Latitude Aviation English Services Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08406339 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

Latitude Aviation English Services Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Directors:

H J Emery

D Gliddon

Registered office:

Abacus House

129 North Hill

Plymouth

Devon

PL4 8JY

Business address:

15 Whiteford Road

Mannamead

Plymouth

Devon

PL3 5LU

Registered number:

08406339 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

146

293

146

293

Current assets

Debtors

6

4,643

323

Cash at bank

8,463

7,927

13,106

8,250

Creditors

Amounts falling due within one year

7

42,238

45,082

Net current liabilities

(29,132

)

(36,832

)

Total assets less current liabilities

(28,986

)

(36,539

)

Capital and reserves

Called up share capital

8

146

146

Share premium

11,956

11,956

Retained earnings

(41,088

)

(48,641

)

Shareholders' funds

(28,986

)

(36,539

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by:

H J Emery - Director

1.	STATUTORY INFORMATION

Latitude Aviation English Services Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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.

These financial statements have been prepared under the historical cost convention using the going concern basis. The company is dependent on the support of the directors who, at the balance sheet date, were owed £37,330. The directors have confirmed that funds will continue to be made available into the foreseeable future.

Turnover

Turnover represents amounts receivable in respect of services. Turnover is recognised upon delivery of the service to the customer.

Goodwill

Goodwill being the amount paid in connection with the aquisition of a business in 2014, was amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment

50% reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 April 2022

and 31 March 2023

3,540

Amortisation

At 1 April 2022

and 31 March 2023

3,540

Net book value

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 April 2022

and 31 March 2023

6,084

Depreciation

At 1 April 2022

5,791

Charge for year

147

At 31 March 2023

5,938

Net book value

At 31 March 2023

146

At 31 March 2022

293

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

4,643

323

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

39

25

Other creditors

42,199

45,057

42,238

45,082

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

14,620

Ordinary shares

£0.01

146

146

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the following amounts to related parties in respect of their shareholder loan accounts:

H J Emery

Director and shareholder

£27,922

D Gliddon

Director and shareholder

£9,408

10.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the directors.