UK Data Ltd Full Report

FAIRFLIGHT CORPORATE JETS LIMITED

Statutory Information
Previous Name(s):	AIR FALCON EUROPE LIMITED (until 03/07/2000)
Registered Number:	03910753
Incorporation Date:	20/01/2000

Registered Office:	GALLA HOUSE
	695 HIGH ROAD
	LONDON
	N12 0BT

Latest Filed Accounts:	31/12/2002	Date Accounts Lodged:	05/11/2003
Analysed Accounts:	31/12/2002	Accounts Ref. Date:	31/12
Latest Annual Return:	20/01/2004	Issued Capital: (GBP)	5,000
Company Status:	Small	Type of Accounts:	Total Exemption Small

Directory Information

Trading Address:	-

Telephone Number:	01372 466244	Fax Number:	-

Region:	HOME COUNTIES AND OUTER LONDON
Bankers:	BANK OF CYPRUS
Auditors:	<Missing>
Audit Opinion or Qualification:	The company has taken advantage of exemptions under the Companies Act such that the accounts have not been audited or examined.
Principal Activities:

UK SIC Code(s):	62100 Scheduled air transport

Score Key
Risk Information
Risk Score		Credit Limit (GBP)
Todays:	20	Todays:	0
until:	09/09/2004	until:	09/09/2004
Previous:	28	Previous:	0
Historical Trend		Contract Limit (GBP):	100
31/12/2002	20
31/12/2001	7
31/12/2000	48
1 - 40	Caution. High Risk Potential.
41 - 50	Caution. Moderate Risk Potential. Measured Exposure.
51 - 57	Normal. Limited Risk Potential. Normal Terms.
58 - 100	Confidence. Low Risk Potential.

The score has been revised to reflect adverse information re CCJs. For further details please refer to the full list.

The latest and previous accounts were both late in being filed.

Cash balances fell from £13,000 to £3,000 over the latest period.

Latest Net Worth became negative, it fell from £15,000 to £-14,000.

Reported Assets fell from £211,000 to £7,000 over the latest period.

County Court Judgments Summary:	Number of exact unsatisfied CCJs: 2 Totalling: £2390.00
	Number of probable unsatisfied CCJs: None
	Number of possible unsatisfied CCJs: None

Cumulative Total of Exact CCJs over:	3 Months	6 Months	12 Months
	GBP	GBP	GBP
Exact Match	1,669.00	1,669.00	1,669.00
Probable Match	-	-	-
Possible Match	-	-	-

Latest Ten Judgments
On 05/08/2004, a judgment of £1669.00 was made in NOTTINGHAM court (Case No. 4NG09296) against FAIRFLIGHT CORPORATE JETS LTD <, R/O GALLA HOUSE, 695 HIGH ROAD, LONDON, N12 0BT, Ref. No. 0709401656 (exact match).
On 06/09/2001, a judgment of £721.00 was made in NORTHAMPTON court (Case No. XJ121836) against FAIRFLIGHT CORPORATE JETS LIMITED <, 7 WEST END GARDENS, ESHER, SURREY, KT10 8LD, Ref. No. 1809197971 (exact match).

Group Structure
Ownership
Holding Company:	None
Ultimate Holding Company:	None

All immediate shareholdings on UK Data Ltd's Database by Turnover
None

Share Capital Structure
Class of Shares	Par Value (pence)	Number of Shares	Issued Capital
ORDINARY	100.000	5000	5,000
Total Issued Capital			£5,000

Shareholders
Shareholder Name & Address	Share Class	No. of Shares	Issued Capital (£)	Shareholding No.
Miss Karajan Mallinder 74 Mortimer Street, London, W1N 8HL	ORDINARY	1	1	2
Mr Paul Anthony Mulligan 7 West End Gardens, Esher, Surrey, KT10 8LD	ORDINARY	4,999	4,999	1

Shareholders

Shareholder Name & Address

Share Class

No. of Shares

Issued Capital (£)

Shareholding No.

Miss Karajan Mallinder

74 Mortimer Street,

London,

W1N 8HL

ORDINARY

Mr Paul Anthony Mulligan

7 West End Gardens,

Esher,

Surrey,

KT10 8LD

ORDINARY

4,999

Profit & Loss Account
Date of Accounts	31/12/2002	31/12/2001	31/12/2000
Consolidated	N	N	N
Subsidiary	N	N	N
No. of Weeks	52	52	50
Currency	(GBP '000)	(GBP '000)	(GBP '000)
Audit Qual./Comment

Turnover [1]	-	-	-
Cost of Sales	-	-	-
Gross Profit	-	-	-
Operating Profit [2]	-	-	-
Non-Trading Income	-	-	-
Interest Payable	-	-	-
Pre-Tax Profit	-	-	-
Taxation	-	-	-
Profit After Tax	-	-	-
Retained Profit	-	-	-

Value Added	-	-	-

Balance Sheet
Date of Accounts	31/12/2002	31/12/2001	31/12/2000
Consolidated	N	N	N
Subsidiary	N	N	N
No. of Weeks	52	52	50
Currency	(GBP '000)	(GBP '000)	(GBP '000)

Tangible Fixed Assets [3]	1	1	1,274
Intangible Assets	0	0	0
Total Fixed Assets	1	1	1,274

Stocks	0	0	0
Trade Debtors	3	197	115
Cash	3	13	19
Miscellaneous Current Assets [4]	0	0	0
Total Current Assets	6	210	134

Creditors: Amounts falling due within 1 year [5]	21	196	630

Total Assets less Current Liabilities	-14	15	778

Total Liabilities	21	196	1,517

Share Capital & Reserves [7]	5	5	5
P & L Account Reserve	-19	10	-114
Revaluation Reserve	0	0	0
Shareholders Funds	-14	15	-109
Capital Employed	-14	15	778

Net Worth	-14	15	-109
Working Capital	-15	14	-496

Contingent Liabilities	-	-	-

Cash Flow
Date of Accounts	31/12/2002	31/12/2001	31/12/2000
Consolidated	N	N	N
Subsidiary	N	N	N
No. of Weeks	52	52	50
Currency	(GBP '000)	(GBP '000)	(GBP '000)

Net Cash Flow from Operating Activities	-	-	-
Net Cash Flow from Return on Investment and Servicing of Finance	-	-	-
Net Cash Flow before Financing	-	-	-
Net Cash Flow from Financing	-	-	-
Increase in cash	-	-	-

Account Notes
Date of Accounts	31/12/2002	31/12/2001	31/12/2000
Consolidated	N	N	N
Subsidiary	N	N	N
No. of Weeks	52	52	50
Currency	(GBP '000)	(GBP '000)	(GBP '000)

[2] Operating Profit is after charging the following
Employees Remuneration	-	-	-
Directors Remuneration	-	-	-
Audit Fees	-	-	-
Non-Audit Fees	-	-	-
Depreciation	-	-	-

Average Number of Employees (actual)	-	-	-

[3] Tangible Assets consist of
Fixed Assets	-	-	-
Intermediate Assets	-	-	-
which includes:
-Due from Group, Non-Current	0	0	0

[4] Miscellaneous Current Assets includes:
-Due from Group, Current	0	0	0

[5] Creditors: Amounts falling due within one year consists of:
Trade Creditors	21	196	630
a Bank Overdraft	0	0	0
Miscellaneous Current Liabilities includes:	0	0	0
b -Bank Loans - Current Portion	-	-	-
c Other Short-Term Finance, including:	-	-	-
-Due to Group, Current	0	0	0
-Due to Directors, Current	0	0	0

Short-Term Loans (a+b+c)	-	-	-

[6] Total Long-Term Liabilities consists of:
Long-Term Loans, which consists of:	-	-	-
-Long-Term Bank Loans	-	-	-
-Other Long-Term Finance including:	-	-	-
-Due to Group, Non-Current	0	0	0
-Due to Directors, Non-Current	0	0	0
Other Long-Term Liabilities	-	-	-

[7] Share Capital and Reserves consists of:
Called-up Share Capital	-	-	-
Sundry Reserves	-	-	-

Ratios
Date of Accounts	31/12/2002	31/12/2001	31/12/2000
Acid Ratio	0.29	1.07	0.21
Profit/Capital Employed	-	-	-
Current Liquidity	0.29	1.07	0.21
Profit/Sales (%)	-	-	-
Interest Burden	-	-	-
Stock Turnover (days)	-	-	-
Days Sales Outstanding (DSO)	-	-	-
Cash Cycle (days)	-	-	-
Days Purchases Outstanding (DPO)	-	-	-
Creditor Days	-	-	-
Profit/Total Assets (%)	-	-	-
Profit/ Shareholders Funds (%)	-	-	-
Sales/Total Assets (%)	-	-	-
Sales/Fixed Assets	-	-	-
Working Capital/Sales (%)	-	-	-
Total Debt/Net worth (%)	-	-	-
Shareholders Funds/Total Assets	-	0.07	-
Long-term Debt/Net Worth (%)	-	-	-
Interest/Pre-interest Profit	-	-	-
Total Debt/Working Capital (%)	-	-	-
Average Employee Remuneration (£)	-	-	-
Wages/Sales (%)	-	-	-
Profit per Employee (£)	-	-	-
Sales per Employee (£)	-	-	-
Capital Employed per Employee (£)	-	-	-
Total Fixed Assets per Employee (£)	-	-	-
Total Assets per Employee (£)	-	-	-
Creditors/Debtors	7.00	0.99	5.48
Debtors/Total Assets (%)	42.86	93.36	8.17
Current Liabilities/Stocks	-	-	-
Exports/Sales (%)	-	-	-
Sales/Audit Fees	-	-	-
Total Assets/ Audit Fees	-	-	-

Growth Rates
	1 year	2 year
Turnover	-	-
Pre-tax Profit	-	-
Audit Fees	-	-
Directors Remuneration	-	-
Number of Employees	-	-
Employees Remuneration	-	-
Fixed Assets	-	-
Tangible Assets	0.0	-99.9
Total Fixed Assets	0.0	-99.9
Stocks	-	-
Trade Debtors	-98.5	-97.4
Total Current Assets	-97.1	-95.5
Total Assets	-96.7	-99.5
Trade Creditors	-89.3	-96.7
Short-Term Loans	-	-
Total Current Liabilities	-89.3	-96.7
Net Cash	-76.9	-84.2
Shareholders Funds	-	-
Net Worth	-	-
Long-Term Loans	-	-
Long-Term Liabilities	-	-100.0
Capital Employed	-	-

Company/Industry Comparison
This comparison is based on the results of 460 companies in the same industrial sector: 62100 Scheduled air transport
	Company	Industry Averages
	31/12/2002	Lower	Median	Upper
Performance
Profit/Sales (%)	-	-7.36	0.00	9.15
Profit/Capital Employed (%)	-	-11.49	0.00	18.00
Profit/Total Assets (%)	-	-12.62	0.00	7.92
Profit/Shareholders Funds (%)	-	-17.70	2.14	34.17
Turnover
Sales/Total Assets (%)	-	33.95	108.35	244.04
Sales/Fixed Assets (%)	-	1.78	2.81	20.19
Working Capital/Sales (%)	-	11.51	-0.26	-14.87
Stock Turnover (days)	-	14.00	7.00	3.00
Credit Period (days)	-	46.29	21.52	0.00
Creditor Days	-	40.85	15.86	0.00
Liquidity
Current Ratio	0.29	0.39	0.99	1.61
Liquidity Ratio	0.29	0.31	0.95	1.55
Gearing
Total Debt/Net Worth (%)	-	403.25	183.53	75.76
Shareholders Funds/Total Assets	-	0.13	0.35	0.65
Long Term Debt/Net Worth (%)	-	325.99	129.59	23.06
Interest/Pre-interest Profit	-	37.73	11.99	1.82
Total Debt/Working Capital	-	4.57	0.98	0.27
Employee
Average Employee Remuneration (£)	-	22,794	24,684	30,039
Wages/Sales (%)	-	21.18	16.00	12.05
Profit per Employee (£)	-	-10,446	310	7,460
Sales per Employee (£)	-	120,377	158,163	216,642
Capital Employed per Employee (£)	-	11,810	56,781	170,208
Total Fixed Assets per Employee (£)	-	5,465	63,363	127,788
Total Assets per Employee (£)	-	62,310	134,220	264,264
Other
Creditors/Debtors	7.00	0.65	1.31	3.38
Debtors/Total Assets (%)	42.86	0.64	11.03	42.11
Current Liabilities/Stocks	-	6.00	14.25	49.55
Exports/Sales (%)	-	0.00	0.00	4.43
Sales/Audit Fees	-	1,733.45	3,750.00	5,405.06
Total Assets/Audit Fees	-	659.89	2,427.19	5,654.77

Filing History
06/12/2001	Change among the directors of a company
16/08/2000	Alteration in memorandum or articles of association

Officers Company Secretaries
TRACY DIMA MULLIGAN
Appointment Date:	06/12/2001
Date of Birth:	-
Occupation:
Address:	35 REDCLIFFE GARDENS, LONDON, , SW10 9BH
Present Appointment Details:	FAIRFLIGHT CORPORATE JETS LIMITED (RISK SCORE=20)

Current Directors
PAUL ANTHONY MULLIGAN
Appointment Date:	20/01/2000
Date of Birth:	28/02/1948
Occupation:	CONSULTANT ENGINEER
Address:	7 WEST END GARDENS, ESHER, SURREY, KT10 8LD
Present Appointment Details:	FAIRFLIGHT CORPORATE JETS LIMITED (RISK SCORE=20) URBAN SPIRIT LIMITED (RISK SCORE=Suspended)

Previous Directors
KARAJAN MALLINDER
Resignation Date:	13/06/2000
Date of Birth:	22/01/1962
Occupation:	AIR CHARTER BROKER
Address:	136 GOLDHURST TERRACE, LONDON, , NW6 3HR

ALEXANDER RAINER MUNCH
Resignation Date:	06/12/2001
Date of Birth:	09/04/1956
Occupation:	DIRECTOR
Address:	31 PONT STREET, CHELSEA, LONDON,

QA NOMINEES LIMITED
Resignation Date:	20/01/2000
Date of Birth:	-
Occupation:	FORMATION AGENT
Address:	THE STUDIO, ST NICHOLAS CLOSE, ELSTREEE, HERTFORDSHIRE, WD6 3EW

UK Data Ltd Full Report

FAIRFLIGHT CORPORATE JETS LIMITED

Statutory Information

Directory Information

Risk Information

Risk Score

Credit Limit (GBP)

Ownership

Profit & Loss Account

Balance Sheet

Cash Flow

Account Notes

Ratios

Growth Rates

Company/Industry Comparison

Filing History

Officers

Company Secretaries

Current Directors

Previous Directors