Enstone Flying Club Ltd - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05362601 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Enstone Flying Club Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr P Fowler

REGISTERED OFFICE:

Enstone Airfield

Church Enstone

Chipping Norton

Oxfordshire

OX7 4NP

REGISTERED NUMBER:

05362601 (England and Wales)

ACCOUNTANTS:

Brookwood Accountancy

The Old Post Office

19 Banbury Road

Kidlington

Oxfordshire

OX5 1AQ

FIXED ASSETS

Tangible assets

2

8,380

11,173

CURRENT ASSETS

Stocks

10,958

10,978

Debtors

3,869

66,570

Cash at bank

24,258

12,143

39,085

89,691

CREDITORS

Amounts falling due within one year

32,861

97,158

NET CURRENT ASSETS/(LIABILITIES)

6,224

(7,467

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,604

3,706

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

14,602

3,704

SHAREHOLDERS' FUNDS

14,604

3,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 27 June 2014 and were signed by:

Mr P Fowler - Director

1.	ACCOUNTING POLICIES

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 reducing balance

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.

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 2013

and 31 March 2014

37,513

DEPRECIATION

At 1 April 2013

26,340

Charge for year

2,793

At 31 March 2014

29,133

NET BOOK VALUE

At 31 March 2014

8,380

At 31 March 2013

11,173

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

2

ordinary

£1.00

2

2