Airline Component Services Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05596134 (England and Wales)

Abbreviated Unaudited Accounts

for the period

1st November 2013 to 31st March 2015

for

AIRLINE COMPONENT SERVICES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G J Higgins

REGISTERED OFFICE:

Unit 12

Trade City Business Park

Cowley Mill Road

Uxbridge

Middlesex

UB8 2DB

REGISTERED NUMBER:

05596134 (England and Wales)

ACCOUNTANTS:

Bakers

(The practising name of

Baker (Midlands) Limited)

Arbor House

Broadway North

Walsall

WS1 2AN

FIXED ASSETS

Tangible assets

2

80,189

62,690

Investments

3

76

-

80,265

62,690

CURRENT ASSETS

Stocks

270,354

173,186

Debtors

529,318

160,550

Cash at bank

101,741

383,704

901,413

717,440

CREDITORS

Amounts falling due within one year

391,134

172,600

NET CURRENT ASSETS

510,279

544,840

TOTAL ASSETS LESS CURRENT LIABILITIES

590,544

607,530

CREDITORS

Amounts falling due after more than one year

(474,526

)

(475,000

)

PROVISIONS FOR LIABILITIES

(4,300

)

(8,200

)

NET ASSETS

111,718

124,330

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

111,716

124,328

SHAREHOLDERS' FUNDS

111,718

124,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5th August 2015 and were signed by:

G J Higgins - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Preparation of consolidated financial statements

The financial statements contain information about Airline Component Services Ltd as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the

option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

slow moving items.

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2013

90,988

Additions

54,581

Disposals

(10,000

)

At 31st March 2015

135,569

DEPRECIATION

At 1st November 2013

28,298

Charge for period

28,957

Eliminated on disposal

(1,875

)

At 31st March 2015

55,380

NET BOOK VALUE

At 31st March 2015

80,189

At 31st October 2013

62,690

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

76

At 31st March 2015

76

NET BOOK VALUE

At 31st March 2015

76

The company's investments at the Balance Sheet date in the share capital of companies include the following:

ACS Aviation Industries Ltd

Nature of business: servicing of airline parts

%

Class of shares:

holding

A ordinary shares

59.40

2015

£

Aggregate capital and reserves

(143,496

)

Loss for the period

(143,624

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2013

value:

£

£

2

ordinary

£1

2

2