AIRPOWER_(U.K.)_LIMITED - Accounts

AIRPOWER (U.K.) LIMITED - Company Information

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Company Registration No. 03965250 (England and Wales)

AIRPOWER (U.K.) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

AIRPOWER (U.K.) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

AIRPOWER (U.K.) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

12,322

4,495

Current assets

Stocks

10,424

9,358

Debtors

54,063

65,872

Cash at bank and in hand

28,388

44,459

92,875

119,689

Creditors: amounts falling due within one year

(74,679)

(99,236)

Net current assets

18,196

20,453

Total assets less current liabilities

30,518

24,948

Provisions for liabilities

(2,464)

(899)

28,054

24,049

Capital and reserves

Called up share capital

100

Profit and loss account

27,954

23,949

Shareholders' funds

28,054

24,049

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their 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 22 May 2015

R Bachini

Director

Company Registration No. 03965250

AIRPOWER (U.K.) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 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).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT. The value of work in progress not invoiced at the year end is included within turnover and trade debtors.

1.4

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

25% per annum of cost

Fixtures, fittings & equipment

25% per annum of cost

Motor vehicles

25% per annum of cost

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

1.6

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.

AIRPOWER (U.K.) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

17,883

Additions

14,491

Disposals

(3,320)

At 31 December 2014

29,054

Depreciation

At 1 January 2014

13,387

On disposals

(1,660)

Charge for the year

5,005

At 31 December 2014

16,732

Net book value

At 31 December 2014

12,322

At 31 December 2013

4,495

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100