Aviation Network Associates (Global) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04406875 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

AVIATION NETWORK ASSOCIATES

(GLOBAL) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C S Newport

SECRETARY:

E Park

REGISTERED OFFICE:

30 New Road

Brighton

East Sussex

BN1 1BN

REGISTERED NUMBER:

04406875 (England and Wales)

ACCOUNTANTS:

Galloways

30 New Road

Brighton

East Sussex

BN1 1BN

FIXED ASSETS

Tangible assets

4

826

969

CURRENT ASSETS

Debtors

5

55,859

543

Cash at bank

751,610

760,159

807,469

760,702

CREDITORS

Amounts falling due within one year

6

19,505

12,603

NET CURRENT ASSETS

787,964

748,099

TOTAL ASSETS LESS CURRENT LIABILITIES

788,790

749,068

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

788,789

749,067

788,790

749,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 28 May 2019 and were signed by:

C S Newport - Director

1.	STATUTORY INFORMATION

Aviation Network Associates (Global) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can

be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance

with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the cost incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and

condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the

straight-line method.

Depreciation is provided on the following basis:

Office equipment

- 25% straight line

Computer equipment

- 33% straight line

The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or

if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the

statement of comprehensive income.

Foreign currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the

transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at

historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair

value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end

exchange rates of monetary assets and liabilities denominated in foreign exchange currencies are recognised in the statement

of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings, cash and cash equivalents are presented in the statement of

comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the

statement of comprehensive income within 'operating profit'.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 April 2018

708

6,986

7,694

Additions

583

-

583

At 31 March 2019

1,291

6,986

8,277

DEPRECIATION

At 1 April 2018

708

6,017

6,725

Charge for year

146

580

726

At 31 March 2019

854

6,597

7,451

NET BOOK VALUE

At 31 March 2019

437

389

826

At 31 March 2018

-

969

969

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

55,440

-

Other debtors

-

215

VAT

156

-

Deferred tax asset

263

328

55,859

543

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Corporation tax

9,272

5,020

Other creditors

7,062

4,735

Accruals and deferred income

3,171

2,848

19,505

12,603

7.	DEFERRED TAX

£

Balance at 1 April 2018

(328

)

Movement in year

65

Balance at 31 March 2019

(263

)