Specialist Aviation Manufacturing Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 01179848 (England and Wales)

Financial Statements for the Year Ended 31 August 2018

for

Specialist Aviation Manufacturing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D F Hammond

D E Spencer

SECRETARY:

D F Hammond

REGISTERED OFFICE:

Aerospace Logistics Centre

Fifth Avenue

Letchworth

Hertfordshire

SG6 2TS

REGISTERED NUMBER:

01179848 (England and Wales)

AUDITORS:

Godfrey Laws & Co Limited

69 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

CURRENT ASSETS

Debtors

4

6,229

89,585

Cash at bank

503

1,704

6,732

91,289

CREDITORS

Amounts falling due within one year

5

3,135

87,692

NET CURRENT ASSETS

3,597

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,597

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

3,497

SHAREHOLDERS' FUNDS

3,597

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 31 May 2019 and were signed on its behalf by:

D F Hammond - Director

1.	STATUTORY INFORMATION

Specialist Aviation Manufacturing Ltd 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

Trade debtors

-

74,341

Amounts owed by group undertakings

5,989

2,000

Other debtors

240

13,244

6,229

89,585

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

Trade creditors

-

3,712

Amounts owed to group undertakings

935

7,439

Other creditors

2,200

76,541

3,135

87,692

6.	SECURED DEBTS

Securities include:

Fixed and floating charge created in favour of Svenska Handelsbanken AB (PUBL) to cover all property or

undertaking of the company. The charge includes a negative pledge.

The company has a cross guarantee with it's fellow group companies:

Cabinair Services Ltd

SATTO Solutions Ltd

HSM Aero Ltd

Specialist Aviation Holding Ltd

Specialist Aviation Ltd

Hermitage S M Ltd

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Howard Ashmore FCA (Senior Statutory Auditor)

for and on behalf of Godfrey Laws & Co Limited

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts are due from companies under common control:

Specialist Aviation Holdings Limited - £2,000

HSM Aero Limited - £3,989

At the balance sheet date the following amounts are due to companies under common control:

Specialist Aviation Limited - £935

The controlling party is D F Hammond.

9.	ULTIMATE PARENT COMPANY

The ultimate parent company is Specialist Aviation Holdings Limited, the registered office is: Aerospace

Logistics Centre, Fifth Avenue, Letchworth Garden City, Herts, SG6 2TS.

Specialist Aviation Manufacturing Ltd - Accounts to registrar (filleted) - small 18.2

Specialist Aviation Manufacturing Ltd - Accounts to registrar (filleted) - small 18.2