LNG_AVIATION_LIMITED - Accounts

LNG AVIATION LIMITED - Company Information

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Company Registration No. 05325976 (England and Wales)

LNG AVIATION LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

LNG AVIATION LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

LNG AVIATION LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LNG AVIATION LIMITED FOR THE YEAR ENDED 31 JANUARY 2016

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 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 LNG Aviation Limited for the year ended 31 January 2016 set out on pages 3 to 8 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of LNG Aviation Limited, as a body, in accordance with the terms of our engagement letter dated 1 June 2012. Our work has been undertaken solely to prepare for your approval the financial statements of LNG Aviation Limited and state those matters that we have agreed to state to the Board of Directors of LNG Aviation Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LNG Aviation Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that LNG Aviation Limited 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 LNG Aviation Limited. You consider that LNG Aviation Limited 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 LNG Aviation Limited. 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.

Pearson May

19 October 2016

Chartered Accountants

37 Great Pulteney Street

Bath

BA2 4DA

LNG AVIATION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

1,794

1,120

Current assets

Debtors

1,935

4,756

Cash at bank and in hand

14,186

17,928

16,121

22,684

Creditors: amounts falling due within one year

(5,469)

(5,474)

Net current assets

10,652

17,210

Total assets less current liabilities

12,446

18,330

Provisions for liabilities

(224)

12,446

18,106

Capital and reserves

Called up share capital

100

Profit and loss account

12,346

18,006

Shareholders' funds

12,446

18,106

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 October 2016

L Gray

Director

Company Registration No. 05325976

LNG AVIATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Computer equipment

33% reducing balance

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Fixed assets

Tangible assets

Cost

At 1 February 2015

6,899

Additions

1,336

At 31 January 2016

8,235

Depreciation

At 1 February 2015

5,779

Charge for the year

662

At 31 January 2016

6,441

Net book value

At 31 January 2016

1,794

At 31 January 2015

1,120

LNG AVIATION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 4 -

Share capital

2016

2015

Allotted, called up and fully paid

100 ordinary shares of £1 each

100