London Jet Centre (Stanstead) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09093118 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

London Jet Centre (Stanstead) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Prince A Eze

M Foley

Registered office:

Diamond Hangar,

Long Border Road,

London Stansted Airport

Stansted

Essex

CM24 1RE

Registered number:

09093118 (England and Wales)

Accountants:

Benjamin Taylor Diner Limited

120 New Cavendish Street,

London

W1W 6XX

Fixed assets

Tangible assets

5

292,984

364,898

Current assets

Debtors

6

348,644

382,062

Cash at bank

103,918

23,377

452,562

405,439

Creditors

Amounts falling due within one year

7

(491,029

)

(539,556

)

Net current liabilities

(38,467

)

(134,117

)

Total assets less current liabilities

254,517

230,781

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

254,417

230,681

Shareholders' funds

254,517

230,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2022 and were signed on its behalf by:

M Foley - Director

1.	Statutory information

The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is The Diamond Hangar, Long Border Road, London Stansted Airport, Stansted, Essex CM24 1RE.

The principal activity of the company in the year under review was that of hospitality, concierge and handling services supplied to customers in the aviation industry.

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the life of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Improvements to property are depreciated over the life of the lease, which was extended to 12 years in 2020.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade debtors and creditors, loans from banks and other third parties, and loans to and from related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

Government grants

The company accounts for government grants on an accruals basis. During the year ended 31 December 2021, the company recognised grant income receivable from the UK Government's Coronavirus Job Retention Scheme in other operating income.

4.	Employees and directors

The average number of employees during the year was 8 (2020 - 15 ) .

5.	Tangible fixed assets

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 January 2021

410,525

385,424

78,327

11,455

885,731

Additions

-

-

-

1,039

1,039

At 31 December 2021

410,525

385,424

78,327

12,494

886,770

Depreciation

At 1 January 2021

187,602

267,431

56,361

9,439

520,833

Charge for year

37,003

29,498

5,492

960

72,953

At 31 December 2021

224,605

296,929

61,853

10,399

593,786

Net book value

At 31 December 2021

185,920

88,495

16,474

2,095

292,984

At 31 December 2020

222,923

117,993

21,966

2,016

364,898

Improvements to property are depreciated over the life of the lease, which was extended to 12 years in 2020.

6.

Debtors: amounts falling due within one year

31.12.21

31.12.20

£

£

Trade debtors

160,497

153,155

Other debtors

188,147

228,907

348,644

382,062

7.

Creditors: amounts falling due within one year

31.12.21

31.12.20

£

£

Trade creditors

138,609

464,131

Taxation and social security

41,948

18,893

Other creditors

310,472

56,532

491,029

539,556

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

100

Ordinary

£1

100

100

Called-up share capital represents the nominal value of shares that have been issued.

9.

Reserves

Retained

earnings

£

At 1 January 2021

230,681

Profit for the year

23,736

At 31 December 2021

254,417

The retained earnings reserve records retained earnings and accumulated losses.

10.	Related party disclosures

11.	Ultimate controlling party