KINGS_AVIATION_LIMITED - Accounts

KINGS AVIATION LIMITED - Company Information

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Company Registration No. 02887078 (England and Wales)

KINGS AVIATION LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2013

KINGS AVIATION LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

KINGS AVIATION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

1,294

1,830

Current assets

Debtors

145,900

170,238

Cash at bank and in hand

41,343

30,826

187,243

201,064

Creditors: amounts falling due within one year

(423,364)

(350,017)

Net current liabilities

(236,121)

(148,953)

Total assets less current liabilities

(234,827)

(147,123)

Creditors: amounts falling due after more than one year

(100,701)

(335,528)

(247,824)

Capital and reserves

Called up share capital

100

Profit and loss account

(335,628)

(247,924)

Shareholders' funds

(335,528)

(247,824)

For the financial period ended 30 September 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 May 2015

Mr G I King

Director

Company Registration No. 02887078

KINGS AVIATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2013

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through loans from related parties which are not repayable on demand.

The related party has confirmed that it will provide any financial support required by the company to enable it to continue trading for the foreseeable future. In this way the directors consider that the company will continue to operate and have therefore prepared the financial statements on a going concern basis.

The financial statements do not include any adjustments that would result from the related company withdrawing its support.

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

Plant & machinery

25% Reducing balance

Fixtures, fittings & equipment

33.33% Straight line

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 2 October 2012 & at 30 September 2013

10,709

Depreciation

At 2 October 2012

8,879

Charge for the period

536

At 30 September 2013

9,415

Net book value

At 30 September 2013

1,294

At 1 October 2012

1,830

KINGS AVIATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 30 SEPTEMBER 2013

- 3 -

Share capital

2013

2012

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Ultimate parent company

The parent and ultimate parent company is Kings Leisure Limited, a company registered in England and Wales.