FLIGHT & PARTNERS LIMITED

FLIGHT & PARTNERS LIMITED

FLIGHT & PARTNERS LIMITED - Company Information

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FLIGHT & PARTNERS LIMITED

Company Registration Number:
06316259 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2019

Period of accounts

Start date: 1 January 2019

End date: 31 December 2019

FLIGHT & PARTNERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

FLIGHT & PARTNERS LIMITED

Directors' report period ended 31 December 2019

The directors present their report with the financial statements of the company for the period ended 31 December 2019

Principal activities of the company

Fund Management



Directors

The directors shown below have held office during the whole of the period from
1 January 2019 to 31 December 2019

Lord Flight
 M W A Warde-Norbury
 P S Valia

Secretary M W A Warde-Norbury

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
14 July 2020

And signed on behalf of the board by:
Name: Lord Flight
Status: Director

FLIGHT & PARTNERS LIMITED

Profit And Loss Account

for the Period Ended 31 December 2019

2019 2018


£
£
Turnover: 249,652 205,504
Cost of sales: 0 0
Gross profit(or loss): 249,652 205,504
Administrative expenses: ( 85,558 ) ( 77,209 )
Other operating income: 27,163 3,749
Operating profit(or loss): 191,257 132,044
Interest receivable and similar income: 102 54
Profit(or loss) before tax: 191,359 132,098
Tax: ( 40,544 ) ( 21,871 )
Profit(or loss) for the financial year: 150,815 110,227

FLIGHT & PARTNERS LIMITED

Balance sheet

As at 31 December 2019

Notes 2019 2018


£
£
Fixed assets
Investments: 3 112,494 85,331
Total fixed assets: 112,494 85,331
Current assets
Debtors: 4 70,146 119,558
Cash at bank and in hand: 130,806 61,497
Total current assets: 200,952 181,055
Creditors: amounts falling due within one year: 5 ( 64,168 ) ( 47,923 )
Net current assets (liabilities): 136,784 133,132
Total assets less current liabilities: 249,278 218,463
Total net assets (liabilities): 249,278 218,463
Capital and reserves
Called up share capital: 75 75
Share premium account: 49,927 49,927
Profit and loss account: 199,276 168,461
Total Shareholders' funds: 249,278 218,463

The notes form part of these financial statements

FLIGHT & PARTNERS LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 14 July 2020
and signed on behalf of the board by:

Name: Lord Flight
Status: Director

The notes form part of these financial statements

FLIGHT & PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

FLIGHT & PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

  • 2. Employees

    2019 2018
    Average number of employees during the period 3 3

FLIGHT & PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Fixed assets investments note

FIXED ASSET INVESTMENTSTotal£Cost or valuationAt 1 January 2019 85,331Revaluations 27,163At 31 December 2019 112,494Net book valueAt 31 December 2019 112,494At 31 December 2018 85,331Fixed asset investments comprise Sterling Redeemable Preference Shares in Flight and PartnersRecovery Fund Limited, a Guernsey registered closed-ended investment fund. The Company owns0.86% (2018 - 0.86%) of the equity share capital of Flight and Partners Recovery Fund Limited. Duringthe year the Company did not receive any dividends from Flight and Partners Recovery Fund Limited.The Flight and Partners Recovery Fund Limited's Net Asset Valuation, as at 31 December 2019, wasused to determine the fair value of the investments held by the Company. The investment in the fund isclassified as a level 2 investment in accordance with the fair value hierarchy in FRS 102. Level 2 relatesto investments where the inputs other than quoted prices that are observable for the asset or liability,either directly (i.e as prices) or indirectly (i.e derived from prices).Page

FLIGHT & PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Debtors

2019 2018
£ £
Other debtors 70,146 119,558
Total 70,146 119,558

FLIGHT & PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

5. Creditors: amounts falling due within one year note

2019 2018
£ £
Trade creditors 54,114 47,923
Other creditors 10,054
Total 64,168 47,923