Partlease Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01573935 (England and Wales)

PARTLEASE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A.N. Turner

R.A. Fern

SECRETARY:

A.N. Turner

REGISTERED OFFICE:

135/137, Station Road,

Chingford,

London

E4 6AG

REGISTERED NUMBER:

01573935 (England and Wales)

ACCOUNTANTS:

Findlay, Wetherfield, Scott & Co.,

Chartered Accountants

135/137, Station Road,

Chingford,

London

E4 6AG

FIXED ASSETS

Tangible assets

3

1

1

CURRENT ASSETS

Debtors

4

570

522

CREDITORS

Amounts falling due within one year

5

20,281

20,233

NET CURRENT LIABILITIES

(19,711

)

(19,711

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,710

)

(19,710

)

CAPITAL AND RESERVES

Called up share capital

5

5

Retained earnings

(19,715

)

(19,715

)

SHAREHOLDERS' FUNDS

(19,710

)

(19,710

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24th July 2019 and were signed on its behalf by:

A.N. Turner - Director

R.A. Fern - Director

1.	STATUTORY INFORMATION

Partlease Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The company exists for the purposes of owning and operating an aeroplane. It is non-profit making and the

turnover represents amounts disbursed by the participators.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Aeroplane

-

10% on cost

No charge has been made as the aeroplane was fully depreciated at the end of the previous financial year.

3.	TANGIBLE FIXED ASSETS

Aeroplane

£

COST

At 1st August 2017

and 31st July 2018

12,167

DEPRECIATION

At 1st August 2017

and 31st July 2018

12,166

NET BOOK VALUE

At 31st July 2018

1

At 31st July 2017

1

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

570

522

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Loans

19,711

19,711

Accrued expenses

570

522

20,281

20,233

The loans are from participators, interest free and repayable on demand.

6.	RELATED PARTY DISCLOSURES

There is no controlling party.