STANSTED AEROSPACE LIMITED

STANSTED AEROSPACE LIMITED - Company Information

2022-08-012023-07-312023-07-31false05033118STANSTED AEROSPACE LIMITED2024-03-06iso4217:GBPxbrli:pure050331182022-08-01050331182023-07-31050331182022-08-012023-07-31050331182021-08-01050331182022-07-31050331182021-08-012022-07-3105033118bus:SmallEntities2022-08-012023-07-3105033118bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3105033118bus:AbridgedAccounts2022-08-012023-07-3105033118bus:PrivateLimitedCompanyLtd2022-08-012023-07-3105033118core:WithinOneYear2023-07-3105033118core:AfterOneYear2023-07-3105033118core:WithinOneYear2022-07-3105033118core:AfterOneYear2022-07-3105033118core:ShareCapital2023-07-3105033118core:SharePremium2023-07-3105033118core:RevaluationReserve2023-07-3105033118core:OtherReservesSubtotal2023-07-3105033118core:RetainedEarningsAccumulatedLosses2023-07-3105033118core:ShareCapital2022-07-3105033118core:SharePremium2022-07-3105033118core:RevaluationReserve2022-07-3105033118core:OtherReservesSubtotal2022-07-3105033118core:RetainedEarningsAccumulatedLosses2022-07-3105033118core:LandBuildings2023-07-3105033118core:PlantMachinery2023-07-3105033118core:Vehicles2023-07-3105033118core:FurnitureFittings2023-07-3105033118core:OfficeEquipment2023-07-3105033118core:NetGoodwill2023-07-3105033118core:IntangibleAssetsOtherThanGoodwill2023-07-3105033118core:ListedExchangeTraded2023-07-3105033118core:UnlistedNon-exchangeTraded2023-07-3105033118core:LandBuildings2022-07-3105033118core:PlantMachinery2022-07-3105033118core:Vehicles2022-07-3105033118core:FurnitureFittings2022-07-3105033118core:OfficeEquipment2022-07-3105033118core:NetGoodwill2022-07-3105033118core:IntangibleAssetsOtherThanGoodwill2022-07-3105033118core:ListedExchangeTraded2022-07-3105033118core:UnlistedNon-exchangeTraded2022-07-3105033118core:LandBuildings2022-08-012023-07-3105033118core:PlantMachinery2022-08-012023-07-3105033118core:Vehicles2022-08-012023-07-3105033118core:FurnitureFittings2022-08-012023-07-3105033118core:OfficeEquipment2022-08-012023-07-3105033118core:NetGoodwill2022-08-012023-07-3105033118core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105033118core:ListedExchangeTraded2022-08-012023-07-3105033118core:UnlistedNon-exchangeTraded2022-08-012023-07-3105033118core:MoreThanFiveYears2022-08-012023-07-3105033118core:Non-currentFinancialInstruments2023-07-3105033118core:Non-currentFinancialInstruments2022-07-3105033118dpl:CostSales2022-08-012023-07-3105033118dpl:DistributionCosts2022-08-012023-07-3105033118core:LandBuildings2022-08-012023-07-3105033118core:PlantMachinery2022-08-012023-07-3105033118core:Vehicles2022-08-012023-07-3105033118core:FurnitureFittings2022-08-012023-07-3105033118core:OfficeEquipment2022-08-012023-07-3105033118dpl:AdministrativeExpenses2022-08-012023-07-3105033118core:NetGoodwill2022-08-012023-07-3105033118core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105033118dpl:GroupUndertakings2022-08-012023-07-3105033118dpl:ParticipatingInterests2022-08-012023-07-3105033118dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3105033118core:ListedExchangeTraded2022-08-012023-07-3105033118dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3105033118core:UnlistedNon-exchangeTraded2022-08-012023-07-3105033118dpl:CostSales2021-08-012022-07-3105033118dpl:DistributionCosts2021-08-012022-07-3105033118core:LandBuildings2021-08-012022-07-3105033118core:PlantMachinery2021-08-012022-07-3105033118core:Vehicles2021-08-012022-07-3105033118core:FurnitureFittings2021-08-012022-07-3105033118core:OfficeEquipment2021-08-012022-07-3105033118dpl:AdministrativeExpenses2021-08-012022-07-3105033118core:NetGoodwill2021-08-012022-07-3105033118core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3105033118dpl:GroupUndertakings2021-08-012022-07-3105033118dpl:ParticipatingInterests2021-08-012022-07-3105033118dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3105033118core:ListedExchangeTraded2021-08-012022-07-3105033118dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3105033118core:UnlistedNon-exchangeTraded2021-08-012022-07-3105033118core:NetGoodwill2023-07-3105033118core:IntangibleAssetsOtherThanGoodwill2023-07-3105033118core:LandBuildings2023-07-3105033118core:PlantMachinery2023-07-3105033118core:Vehicles2023-07-3105033118core:FurnitureFittings2023-07-3105033118core:OfficeEquipment2023-07-3105033118core:AfterOneYear2023-07-3105033118core:WithinOneYear2023-07-3105033118core:ListedExchangeTraded2023-07-3105033118core:UnlistedNon-exchangeTraded2023-07-3105033118core:ShareCapital2023-07-3105033118core:SharePremium2023-07-3105033118core:RevaluationReserve2023-07-3105033118core:OtherReservesSubtotal2023-07-3105033118core:RetainedEarningsAccumulatedLosses2023-07-3105033118core:NetGoodwill2022-07-3105033118core:IntangibleAssetsOtherThanGoodwill2022-07-3105033118core:LandBuildings2022-07-3105033118core:PlantMachinery2022-07-3105033118core:Vehicles2022-07-3105033118core:FurnitureFittings2022-07-3105033118core:OfficeEquipment2022-07-3105033118core:AfterOneYear2022-07-3105033118core:WithinOneYear2022-07-3105033118core:Listed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Registered Number
05033118
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

STANSTED AEROSPACE LIMITED

Company Information
for the year from 1 August 2022 to 31 July 2023


Directors	HALL, Diarmuid
	MATHIESON, John


Company Secretary	MATHIESON, John


Registered Address	5 Myson Way
	Raynham Close
	Bishop's Stortford
	CM23 5JZ


Registered Number	05033118 (England and Wales)

STANSTED AEROSPACE LIMITED

Balance Sheet as at
31 July 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	4		182,538		100,099
Investments	5		-		178,047
			182,538		278,146
Current assets
Stocks		200,000		200,000
Debtors		700,469		596,627
Cash at bank and on hand		229,573		104,411
		1,130,042		901,038
Creditors amounts falling due within one year	7	(276,546)		(260,808)
Net current assets (liabilities)			853,496		640,230
Total assets less current liabilities			1,036,034		918,376
Creditors amounts falling due after one year			(107,995)		(42,094)
Provisions for liabilities			(27,583)		(19,019)
Net assets			900,456		857,263
Capital and reserves
Called up share capital			4		4
Profit and loss account			900,452		857,259
Shareholders' funds			900,456		857,263

The company was entitled to exemption from audit for this reporting period 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. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2024, and are signed on its behalf by:

MATHIESON, John
Director
Registered Company No. 05033118

STANSTED AEROSPACE LIMITED

Notes to the Financial Statements
for the year ended 31 July 2023

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2023		2022
	Average number of employees during the year	22		20

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 August 22	221,118
	Additions	150,064
	At 31 July 23	371,182
	Depreciation and impairment
	At 01 August 22	121,019
	Charge for year	67,625
	At 31 July 23	188,644
	Net book value
	At 31 July 23	182,538
	At 31 July 22	100,099

5.	Fixed asset investments

		Total
		£
	Cost or valuation
	At 01 August 22	178,047
	At 31 July 23	178,047
	Impairment
	Charge for year	178,047
	At 31 July 23	178,047
	Net book value
	At 31 July 23	-
	At 31 July 22	178,047

6.	Debtors: amounts due within one year

	2023	2022
	£	£
Trade debtors / trade receivables	320,308	258,827
Other debtors	320,863	271,409
Prepayments and accrued income	59,298	66,391
Total	700,469	596,627


	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.

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.

7.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	103,505	50,824
Bank borrowings and overdrafts	9,167	1,397
Taxation and social security	82,725	52,561
Finance lease and HP contracts	17,499	-
Other creditors	63,650	156,026
Total	276,546	260,808


	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.

8.	Obligations under finance leases

		2023		2022
		£		£
	Finance lease and HP contracts	76,977		-