Company Registration No. 13308644 (England and Wales)
AERTiCKET Emerald UK Limited
Financial statements
For the period ended 31 December 2021
Pages for filing with registrar
55 L
oudoun Road
St J
ohn's Wood
Lon
don NW8 0DL
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 1 -
2021
Notes
£
£
Fixed assets
Intangible assets
3
42,896
Tangible assets
4
1,312
Investments
5
2
44,210
Current assets
Debtors
7
392,499
Cash at bank and in hand
80,192
472,691
Creditors: amounts falling due within one year
8
(516,329)
Net current liabilities
(43,638)
Net assets
572
Capital and reserves
Called up share capital
100
Profit and loss reserves
472
Total equity
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 April 2022 and are signed on its behalf by:
M Hamid
Director
Company Registration No. 13308644
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 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 period ended 31 December 2021, the company made a profit after tax of £472, at the balance sheet date the company had net current liabilities of £43,638
true
and total equity of £572.
The company continues to meet its day to day working capital requirements through loans from group undertakings of £
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
The accounting period represented in these accounts runs from 1 April 2021, when the company incorporated, to 31 December 2021 in order to be coterminous with the parent company's accounts.
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 EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
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 receive
d
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.
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2021
Number
Total
4
3
Intangible fixed assets
Goodwill
Customer list
Total
£
£
£
Cost
At 1 April 2021
Additions
27,997
20,001
47,998
At 31 December 2021
27,997
20,001
47,998
Amortisation and impairment
At 1 April 2021
Amortisation charged for the period
2,101
3,001
5,102
At 31 December 2021
2,101
3,001
5,102
Carrying amount
At 31 December 2021
25,896
17,000
42,896
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
Additions
1,750
At 31 December 2021
1,750
Depreciation and impairment
At 1 April 2021
Depreciation charged in the period
438
At 31 December 2021
438
Carrying amount
At 31 December 2021
1,312
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 5 -
5
Fixed asset investments
2021
£
Shares in group undertakings and participating interests
2
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2021
-
Additions
2
At 31 December 2021
2
Carrying amount
At 31 December 2021
2
6
Subsidiaries
Details of the company's subsidiaries at 31 December 2021 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Emerald Global Services Sdn. Bhd.
Malaysia
Ordinary
90.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Emerald Global Services Sdn. Bhd.
2,660
188,479
7
Debtors
2021
Amounts falling due within one year:
£
Amounts owed by group undertakings
387,624
Other debtors
4,875
392,499
AERTICKET EMERALD UK LIMITED
AERTiCKET Emerald UK Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2021
- 6 -
8
Creditors: amounts falling due within one year
2021
£
Trade creditors
1,523
Amounts owed to group undertakings
491,459
Taxation and social security
4,656
Other creditors
18,691
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:
2021
£
4,500
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 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 a
mounts
in these financial statements are
rounded to the nearest £.