Aviation Engineering Support Ltd - Period Ending 2014-10-31

Registration number: 7827762

Aviation Engineering Support Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2014
 

Delyth Bending Accountancy Ltd
4 The Paddock
Lower Boddington
Nr Daventry
Northants
NN11 6YF

Aviation Engineering Support Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aviation Engineering Support Ltd
for the Year Ended 31 October 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aviation Engineering Support Ltd for the year ended 31 October 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Aviation Engineering Support Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aviation Engineering Support Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aviation Engineering Support Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aviation Engineering Support Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aviation Engineering Support Ltd. You consider that Aviation Engineering Support Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Aviation Engineering Support Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Delyth Bending Accountancy Ltd
4 The Paddock
Lower Boddington
Nr Daventry
Northants
NN11 6YF

17 July 2015

Page 1

Aviation Engineering Support Ltd
(Registration number: 7827762)
Abbreviated Balance Sheet at 31 October 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					17,488			-
Current assets
Stocks					453			-
Debtors					5,097			-
Cash at bank and in hand					14,404			2
					19,954			2
Creditors: Amounts falling due within one year					(21,498)			-
Net current (liabilities)/assets					(1,544)			2
Total assets less current liabilities					15,944			2
Provisions for liabilities					(3,189)			-
Net assets					12,755			2
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					12,753			-
Shareholders' funds					12,755			2

For the year ending 31 October 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 17 July 2015 and signed on its behalf by:

.........................................
Mr Paul Broadaway
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Aviation Engineering Support Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Vehicles, plant and machinery	25% straight line
Fixtures, fittings, tools and equipment	25% straight line
Office and computer equipment	33% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Aviation Engineering Support Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		20,423			20,423
At 31 October 2014		20,423			20,423
Depreciation
Charge for the year		2,935			2,935
At 31 October 2014		2,935			2,935
Net book value
At 31 October 2014		17,488			17,488

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr Paul Broadaway
Amounts loaned to the company during the year	(6,968)	(6,968)	-	-
Mr Brian Coombs-Prole
Amounts loaned to the company during the year	(9,887)	(9,887)	-	-

Page 4