Reading Aerial Services Limited - Period Ending 2014-03-31

Registration number: 06497412

Reading Aerial Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Reading Aerial Services Limited
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
Reading Aerial Services Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reading Aerial Services Limited for the year ended 31 March 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 Reading Aerial Services Limited, as a body, in accordance with the terms of our engagement letterdated 7 April 2009. Our work has been undertaken solely to prepare for your approval the accounts of Reading Aerial Services Limited 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 Reading Aerial Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reading Aerial Services Limited 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 Reading Aerial Services Limited. You consider that Reading Aerial Services Limited 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 Reading Aerial Services Limited. 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.

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

Morgan Cameron Limited
Chartered Accountants
9 Thorney Leys Park
Witney
Oxfordshire
OX28 4GE

11 September 2014

Page 1

Reading Aerial Services Limited
(Registration number: 06497412)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			8,183			10,555
Current assets
Stocks					18,133			20,021
Debtors					27,605			18,425
Cash at bank and in hand					48,330			44,308
					94,068			82,754
Creditors: Amounts falling due within one year					(96,128)			(93,081)
Net current liabilities					(2,060)			(10,327)
Net assets					6,123			228
Capital and reserves
Called up share capital		3			20			20
Profit and loss account					6,103			208
Shareholders' funds					6,123			228

For the year ending 31 March 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 9 September 2014 and signed on its behalf by:

......................................... D R Ford Director

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

Reading Aerial Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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
Plant and machinery	20% reducing balance
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2013		38,919			38,919
Additions		133			133
At 31 March 2014		39,052			39,052
Depreciation
At 1 April 2013		28,364			28,364
Charge for the year		2,505			2,505
At 31 March 2014		30,869			30,869
Net book value
At 31 March 2014		8,183			8,183
At 31 March 2013		10,555			10,555

Page 3

Reading Aerial Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A shares of £1 each		10			10			10			10
Ordinary B shares of £1 each		10			10			10			10
		20			20			20			20

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
D R Ford
Short-term interest-free loan (repaid April 2014)	7,635	-	-	-

Page 4