Aircraft Chartering Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02020724 (England and Wales)

AIRCRAFT CHARTERING SERVICES LIMITED

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Hugo

Mrs G Hugo

SECRETARY:

Mrs G Hugo

REGISTERED OFFICE:

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

REGISTERED NUMBER:

02020724 (England and Wales)

ACCOUNTANTS:

Tudor John LLP

Chartered Accountants

Nightingale House

46-48 East Street

Epsom

Surrey

KT17 1HQ

FIXED ASSETS

Tangible assets

2

3,048

3,859

Investments

3

12,836

971

15,884

4,830

CURRENT ASSETS

Debtors

2,452

2,762

Cash at bank and in hand

2,361,267

2,365,644

2,363,719

2,368,406

CREDITORS

Amounts falling due within one year

1,077,654

1,070,893

NET CURRENT ASSETS

1,286,065

1,297,513

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,301,949

1,302,343

CAPITAL AND RESERVES

Called up share capital

4

100,000

Profit and loss account

1,201,949

1,202,343

SHAREHOLDERS' FUNDS

1,301,949

1,302,343

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 17 February 2017 and were signed on its behalf
by:

M Hugo - 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).

TURNOVER

Turnover represents net invoiced sales of services, 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

52,323

DEPRECIATION

At 1 June 2015

48,464

Charge for year

811

At 31 May 2016

49,275

NET BOOK VALUE

At 31 May 2016

3,048

At 31 May 2015

3,859

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2015

971

Additions

12,736

Disposals

(871

)

At 31 May 2016

12,836

NET BOOK VALUE

At 31 May 2016

12,836

At 31 May 2015

971

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100,000

Ordinary

£1

100,000