Avionics Support Sales Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09418864 (England and Wales)

Financial Statements

for the Year Ended 31st October 2020

for

AVIONICS SUPPORT SALES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J A Ferrett

M J Ferrett

N T J Duggan

L S Fagence

REGISTERED OFFICE:

The Coach House

The Street

Betchworth

Surrey

RH3 7DJ

REGISTERED NUMBER:

09418864 (England and Wales)

ACCOUNTANTS:

Braidwood Wheeler & Co

Chartered Certified Accountants

Goodman House

13a West Street

Reigate

Surrey

RH2 9BL

FIXED ASSETS

Tangible assets

4

2,780

2,108

CURRENT ASSETS

Stocks

5

20,000

10,000

Debtors

6

173,006

202,454

Cash at bank

168,112

139,063

361,118

351,517

CREDITORS

Amounts falling due within one year

7

210,125

151,771

NET CURRENT ASSETS

150,993

199,746

TOTAL ASSETS LESS CURRENT LIABILITIES

153,773

201,854

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

152,773

200,854

SHAREHOLDERS' FUNDS

153,773

201,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2020 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 applicable to companies subject to the small companies regime.

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 Board of Directors and authorised for issue on 2nd June 2021 and were signed on its behalf by:

Mrs J A Ferrett - Director

L S Fagence - Director

N T J Duggan - Director

M J Ferrett - Director

1.	STATUTORY INFORMATION

Avionics Support Sales 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

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 7 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st November 2019

3,917

Additions

1,599

At 31st October 2020

5,516

DEPRECIATION

At 1st November 2019

1,809

Charge for year

927

At 31st October 2020

2,736

NET BOOK VALUE

At 31st October 2020

2,780

At 31st October 2019

2,108

5.

STOCKS

2020

2019

£

£

Stocks

20,000

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

148,378

166,642

Amounts owed by associates

-

8,793

Other debtors

100

-

VAT

24,102

26,252

Prepayments

426

767

173,006

202,454

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

126,867

95,788

Amounts owed to associates

37,947

-

Corporation tax

16,510

16,844

Social security and other taxes

6,101

9,114

Other creditors

17,056

22,770

Sundry creditors

3,694

5,405

Accrued expenses

1,950

1,850

210,125

151,771

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	ULTIMATE CONTROLLING PARTY

The controlling party is L S Fagence.