Aircraft Paint Services Limited - Period Ending 2023-05-31

Aircraft Paint Services Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Aircraft Paint Services Limited

Balance Sheet

31 May 2023

	Note	2023 £	2022 £
Current assets
Debtors	4	58,161	74,661
Cash at bank and in hand		123	179
		58,284	74,840
Creditors: Amounts falling due within one year	5	(26,934)	(43,429)
Net assets		31,350	31,411
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		31,250	31,311
Shareholders' funds		31,350	31,411

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 March 2024
 

......................................... W H Crook Director

Company Registration Number: 08874351

Aircraft Paint Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
Unit 1, First Floor
Exeter International Office Park
Clyst Honiton
Exeter
Devon
EX5 2HL

These financial statements were authorised for issue by the director on 26 March 2024.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' incorporating Section 1A and the Companies Act 2006. There are no material departures from FRS 102 Section 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. All exchange differences are included in the statement of income and retained earnings.

Aircraft Paint Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

Financial instruments

Classification
The company holds short term other debtors and creditors as financial instruments. All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

	2023 £	2022 £
Amounts owed by group undertakings	53,661	70,161
Other debtors	4,500	4,500
	58,161	74,661

5

Creditors

	2023  £	2022  £
Due within one year
Amounts due to group undertakings	24,934	39,934
Social security and other taxes	-	1,495
Accrued expenses	2,000	2,000
	26,934	43,429

Aircraft Paint Services Limited

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

6	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

7	Parent and ultimate parent undertaking

The company's immediate parent is JMC-Group Limited, incorporated in England and Wales. The financial statements are available upon request from Companies House.