International Plywood (Aviation) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08749855 (England and Wales)

Audited Financial Statements

For The Year Ended 30th April 2023

for

International Plywood (Aviation) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D J Attwood

Mrs D G Attwood

R Attwood

I D Attwood

SECRETARY:

M C Walker

REGISTERED OFFICE:

Unit 5, Javelin Park

Halpern Way

Haresfield

Stonehouse

Gloucestershire

GL10 3WT

REGISTERED NUMBER:

08749855 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Wildin

AUDITORS:

Wildin (Auditors) Limited

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

CURRENT ASSETS

Debtors

4

1,816,594

1,745,265

CREDITORS

Amounts falling due within one year

5

2,149,872

1,875,338

NET CURRENT LIABILITIES

(333,278

)

(130,073

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(333,278

)

(130,073

)

CAPITAL AND RESERVES

Called up share capital

8

1,500,100

1,500,100

Retained earnings

9

(1,833,378

)

(1,630,173

)

SHAREHOLDERS' FUNDS

(333,278

)

(130,073

)

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 27th July 2023 and were signed on its behalf by:

Mrs D G Attwood - Director

1.	STATUTORY INFORMATION

International Plywood (Aviation) 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Trade debtors

187,951

73,555

Amounts owed by group undertakings

1,526,833

1,526,833

Tax

49,225

82,440

VAT

5,990

4,342

Prepayments

46,595

58,095

1,816,594

1,745,265

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.23

30.4.22

£

£

Bank loans and overdrafts (see note 6)

1,033,174

464,034

Trade creditors

172,662

102,961

Amounts owed to group undertakings

931,679

1,014,119

Accrued expenses

12,357

294,224

2,149,872

1,875,338

6.

LOANS

An analysis of the maturity of loans is given below:

30.4.23

30.4.22

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

1,033,174

464,034

7.	SECURED DEBTS

The company is part of a group cross guarantee with it's bankers,HSBC Bank plc, whereby all monies due to the bank are covered by debentures over each of the companies within the group on a floating charge basis.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.23

30.4.22

value:

£

£

750,100

Ordinary

£1

1,500,100

1,500,100

9.

RESERVES

Retained

earnings

£

At 1st May 2022

(1,630,173

)

Deficit for the year

(203,205

)

At 30th April 2023

(1,833,378

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham Wildin (Senior Statutory Auditor)

for and on behalf of Wildin (Auditors) Limited

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D J Attwood.

David Attwood is the ultimate controlling party by virtue of his controlling shareholding in International Plywood plc.

12.	ULTIMATE PARENT COMPANY

The company is part of a group and is a 100% owned subsidiary of that group. The ultimate parent of the group is International Plywood plc, registered office Unit 5, Javelin Park, Halpern Way, Haresfield, Stonehouse, Gloucestershire, GL10 3WT.