Aerospace Resources Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06153729 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

for

AEROSPACE RESOURCES LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

Directors:

R T Blain

K E Skinner

Secretary:

D M Dear

Registered office:

21 East Street

Bromley

Kent

BR1 1QE

Registered number:

06153729 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

21 East Street

Bromley

Kent

BR1 1QE

Bankers:

HSBC

550 Ashton New Road

Clayton

Manchester

M11 4AX

Fixed assets

Tangible assets

2

99,045

115,973

Current assets

Stocks

164,819

169,024

Debtors

354,641

627,151

Cash at bank

74,179

625

593,639

796,800

Creditors

Amounts falling due within one year

1,373,812

1,434,736

Net current liabilities

(780,173

)

(637,936

)

Total assets less current liabilities

(681,128

)

(521,963

)

Provisions for liabilities

19,620

22,989

Net liabilities

(700,748

)

(544,952

)

Capital and reserves

Called up share capital

3

100

100

Profit and loss account

(700,848

)

(545,052

)

Shareholders' funds

(700,748

)

(544,952

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2016 and were signed on its behalf by:

R T Blain - Director

1.	Accounting policies

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis on the assumption that the main shareholder and

related party will continue to provide financial support to the company.

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	Tangible fixed assets

Total

£

Cost

At 1 April 2014

159,220

Additions

325

Disposals

(1,500

)

At 31 March 2015

158,045

Depreciation

At 1 April 2014

43,247

Charge for year

15,753

At 31 March 2015

59,000

Net book value

At 31 March 2015

99,045

At 31 March 2014

115,973

3.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Aerospace Resources Ltd for the year ended 31 March 2015 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes 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 Aerospace Resources Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aerospace Resources Ltd and state those matters that we have agreed to state to the Board of Directors of Aerospace Resources Ltd, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aerospace Resources Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aerospace Resources Ltd. You consider that Aerospace Resources Ltd 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 financial statements of Aerospace Resources Ltd.

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 financial statements.

Haines Watts

Chartered Accountants

21 East Street

Bromley

Kent

BR1 1QE

31 March 2016