Premier Flight Services Limited - Abbreviated accounts 16.1
Premier Flight Services Limited - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 December 2015 |
| for |
| Premier Flight Services Limited |
| Premier Flight Services Limited (Registered number: 01198119) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Premier Flight Services Limited |
| Company Information |
| for the Year Ended 31 December 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Premier Flight Services Limited (Registered number: 01198119) |
| Abbreviated Balance Sheet |
| 31 December 2015 |
| 31.12.15 | 31.12.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Premier Flight Services Limited (Registered number: 01198119) |
| Abbreviated Balance Sheet - continued |
| 31 December 2015 |
| The financial statements were approved by the Board of Directors on by: |
| Premier Flight Services Limited (Registered number: 01198119) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 December 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Turnover |
| Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional |
| rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company |
| has delivered product to the customer, the customer has accepted the products and collectability of the related |
| receivable is reasonably assured. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
| different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
| timing differences which result in an obligation to pay more (or less) tax at a future date, at the tax average rates |
| that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 January 2015 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2015 |
| DEPRECIATION |
| At 1 January 2015 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2015 |
| NET BOOK VALUE |
| At 31 December 2015 |
| At 31 December 2014 |
| Premier Flight Services Limited (Registered number: 01198119) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 December 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | RELATED PARTY DISCLOSURES |
| Premier Freight Services |
| A company owned and controlled by the directors. |
| Included within Creditors: Amounts falling due within one year is £66,189 (2014: £115,986) owing to Premier |
| Freight Services Limited. |
| During the year company made commercial sales of £132,255 (2014: £95,243); sold motor vehicle assets |
| amounting to £114,200 (2014: £58,000) and incurred management fees of £ nil (2014: £15,000). |
| All related party transactions were conducted at arms length during the normal course of business. |
| Evradale Limited |
| A company in which the director, Mr RK Pugh, has a controlling interest |
| Included within Debtors: amounts falling due within one year is £66,647 (2014: £66,647) owed by Evradale |
| Limited. |
| 6. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party of the company during this year and last year, owing to his overall control of the |
| shareholdings is Mr R K Pugh a director and majority shareholder of the company. |