Air Jump (Southern) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10261919 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Air Jump (Southern) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A A Locke

D G Locke

REGISTERED OFFICE:

Parkgate House

33a Pratt Street

London

NW1 0BG

REGISTERED NUMBER:

10261919 (England and Wales)

ACCOUNTANTS:

Creasey Alexander & Co

Chartered Accountants

Parkgate House

33a Pratt Street

London

NW1 0BG

FIXED ASSETS

Tangible assets

4

24,494

90,174

CURRENT ASSETS

Stocks

2,000

2,500

Debtors

5

161,150

163,638

Cash at bank

2,365

39,902

165,515

206,040

CREDITORS

Amounts falling due within one year

6

465,051

505,324

NET CURRENT LIABILITIES

(299,536

)

(299,284

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(275,042

)

(209,110

)

CREDITORS

Amounts falling due after more than one year

7

40,000

50,000

NET LIABILITIES

(315,042

)

(259,110

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(315,044

)

(259,112

)

SHAREHOLDERS' FUNDS

(315,042

)

(259,110

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 25 January 2022 and were signed on its behalf by:

A A Locke - Director

1.	STATUTORY INFORMATION

Air Jump (Southern) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 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.

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

and 31 May 2021

354,705

DEPRECIATION

At 1 June 2020

264,531

Charge for year

65,680

At 31 May 2021

330,211

NET BOOK VALUE

At 31 May 2021

24,494

At 31 May 2020

90,174

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Amounts owed by associates

161,150

155,650

Other debtors

-

7,988

161,150

163,638

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans and overdrafts

10,000

-

Trade creditors

4,288

20,229

Amounts owed to associates

118,332

137,692

Taxation and social security

18,271

16,287

Other creditors

314,160

331,116

465,051

505,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Bank loans

40,000

50,000