Company Registration No. 13308644 (England and Wales)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
Financial statements
For the year ended 31 December 2022
Pages for filing with registrar
55 L
oudoun Road
St J
ohn's Wood
Lon
don NW8 0DL
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
36,097
42,896
Tangible assets
4
729
1,312
Investments
5
2
2
36,828
44,210
Current assets
Debtors
7
622,978
392,499
Cash at bank and in hand
53,096
80,192
676,074
472,691
Creditors: amounts falling due within one year
8
(729,316)
(516,329)
Net current liabilities
(53,242)
(43,638)
Net (liabilities)/assets
(16,414)
572
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(16,514)
472
Total equity
(16,414)
572
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 May 2023 and are signed on its behalf by:
M Hamid
Director
Company Registration No. 13308644
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
During the year ended 31 December 2022, the company made a loss after tax of £16,987 (2021: £472), at the balance sheet date the company had net current liabilities of £53,242 (2021: £43,638) and net liabilities of £16,414 (2021: net assets of £572). true
The company continues to meet its day to day working capital requirements through loans from group undertakings of £474,274 (2021: £491,459). Accordingly, the directors consider it appropriate to prepare the financial statements on the going concern basis and they do not include any adjustments that would result from a withdrawal of support.
1.3
Reporting period
In the prior period, the company prepared its financial statements for the period from 1 April 2021, when the company incorporated, to 31 December 2021 in order to be coterminous with the parent company's accounts.
As a result the amounts presented in the financial statements are not entirely comparable.
1.4
Turnover
Turnover represents amounts receivable for commission and is shown net of VAT.
1.5
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.6
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Customer list
Straight line over 5 years
1.7
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
Straight line over 3 years
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.8
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.9
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.10
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
1.11
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.12
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.13
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking compromise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 on the Companies Act 2006 not to prepare group accounts.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
4
4
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
3
Intangible fixed assets
Goodwill
Customer list
Total
£
£
£
Cost
At 1 January 2022 and 31 December 2022
27,997
20,001
47,998
Amortisation and impairment
At 1 January 2022
2,101
3,001
5,102
Amortisation charged for the year
2,799
4,000
6,799
At 31 December 2022
4,900
7,001
11,901
Carrying amount
At 31 December 2022
23,097
13,000
36,097
At 31 December 2021
25,896
17,000
42,896
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
1,750
Depreciation and impairment
At 1 January 2022
438
Depreciation charged in the year
583
At 31 December 2022
1,021
Carrying amount
At 31 December 2022
729
At 31 December 2021
1,312
5
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
2
2
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
6
Subsidiaries
Details of the company's subsidiaries at 31 December 2022 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Emerald Global Services Sdn. Bhd.
Malaysia
Ordinary
90.00
7
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
15,657
Amounts owed by group undertakings
598,892
387,624
Other debtors
8,429
4,875
622,978
392,499
8
Creditors
2022
2021
Amounts falling due within one year:
£
£
Trade creditors
56,636
1,523
Amounts owed to group undertakings
636,348
491,459
Taxation and social security
3,058
4,656
Other creditors
33,274
18,691
729,316
516,329
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
4,500
4,500
AERTICKET UK LIMITED (FORMERLY AERTICKET EMERALD UK LIMITED)
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
10
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Nigel Walfisz FCA.
The auditor was MGR Weston Kay LLP.
11
Parent company
The parent company is Aerticket International Conso Holding GmbH, whose registered office is Boppstr. 10, 10967 Berlin, Germany.
12
Company information
AERTICKET UK Limited (Formerly AERTiCKET Emerald UK Limited) is a private company limited by shares incorporated in England and Wales. The registered office and principle place of business is Meridien House, 42 Upper Berkeley Street, London, England, W1H 5PW.
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 £.