REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 August 2022 |
for |
JETAIR (BROKERS) LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 August 2022 |
for |
JETAIR (BROKERS) LIMITED |
JETAIR (BROKERS) LIMITED (REGISTERED NUMBER: 06750486) |
Contents of the Financial Statements |
for the year ended 31 August 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JETAIR (BROKERS) LIMITED |
Company Information |
for the year ended 31 August 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
AUDITORS: |
27 High Street |
Horley |
Surrey |
RH6 7BH |
JETAIR (BROKERS) LIMITED (REGISTERED NUMBER: 06750486) |
Balance Sheet |
31 August 2022 |
2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
JETAIR (BROKERS) LIMITED (REGISTERED NUMBER: 06750486) |
Notes to the Financial Statements |
for the year ended 31 August 2022 |
1. | STATUTORY INFORMATION |
JetAir (Brokers) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 £1. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
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. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Equity Instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
All called up share capital is allotted and fully paid. |
JETAIR (BROKERS) LIMITED (REGISTERED NUMBER: 06750486) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2022 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The financial statements have been prepared on the going concern basis, which presumes that the company will continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of these financial statements. |
The company is reliant on the support from group companies and the group has confirmed its continued support. The directors have considered the working capital requirements across the group as a whole and are satisfied that the healthy cash reserves within the group are sufficient to complete projects and meet its liabilities as they fall due for payment. |
In making this assessment the directors have given consideration to how the COVID-19 pandemic has, and may continue to impact its business. The directors are satisfied that the company has been able to continually adapt its working practices to be compliant with regulations and guidance and provide a safe working environment. |
In view of the above, and after taking into account all other information that could reasonably be expected to be available, the directors are confident that the company will continue in operational existence for the foreseeable future and that the going concern basis is therefore appropriate for the preparation of the company’s financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
The trade and other debtors of certain Speed Group (Holdings) Limited subsidiary companies have been pooled and are reflected in the trade and other debtors balances of JetAir (Central Accounting) Limited, having been settled through the intercompany loan account with JetAir (Central Accounting) Limited. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Taxation and social security |
The trade and other creditors of certain Speed Group (Holdings) Limited subsidiary companies have been pooled and are reflected in the trade and other debtors balances of JetAir (Central Accounting) Limited, having been settled through the intercompany loan account with JetAir (Central Accounting) Limited. |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | ULTIMATE CONTROLLING PARTY |
The smallest group in which the results of the company are consolidated is headed by Speed Group (Holdings) Limited. The registered office is Driftstone Manor, Middle Way, Kingston Gorse, East Preston, West Sussex, England, BN16 1SB. |
The consolidated financial statements of the group are available to the public and may be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. |