Flightweight Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08773736 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

Flightweight Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S A K Anderson

REGISTERED OFFICE:

Unit 12 Ash Road North

Wrexham Industrial Estate

Wrexham

Clywd

LL13 9JT

REGISTERED NUMBER:

08773736 (England and Wales)

ACCOUNTANTS:

Sinclair Scott Chartered Accountants

3 Wellington Square

Ayr

Ayrshire

KA7 1EN

FIXED ASSETS

Tangible assets

2

305,541

-

CURRENT ASSETS

Debtors

561,904

1,080

Cash at bank and in hand

707

1

562,611

1,081

CREDITORS

Amounts falling due within one year

433,153

1,080

NET CURRENT ASSETS

129,458

1

TOTAL ASSETS LESS CURRENT LIABILITIES

434,999

1

CREDITORS

Amounts falling due after more than one year

(898,733

)

-

PROVISIONS FOR LIABILITIES

(61,108

)

-

NET (LIABILITIES)/ASSETS

(524,842

)

1

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

(524,843

)

-

SHAREHOLDERS' FUNDS

(524,842

)

1

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 18 August 2016 and were signed by:

S A K Anderson - 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 January 2015).

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

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

DEFERRED TAX

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

GOING CONCERN & LIQUIDITY RISK

The objective for the year was to continue to design innovative security products for the Airline industry. The directors are

confident of future sales and growth and will continued to support the company along with its parent company Weight

Reduction & Aerospace Security Products Limited and its related party of Security Seal Technology Limited.

As such, the directors feel that the business will operate a solvent entity and will continue as a going concern.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

381,780

At 31 December 2015

381,780

DEPRECIATION

Charge for year

76,239

At 31 December 2015

76,239

NET BOOK VALUE

At 31 December 2015

305,541

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1