Aero Engine Invest Limited - Period Ending 2016-06-30

Registration number: 07688819

Aero Engine Invest Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Aero Engine Invest Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Aero Engine Invest Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aero Engine Invest Limited for the year ended 30 June 2016 set out on pages 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 (ICAEW), 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 Aero Engine Invest Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aero Engine Invest Limited and state those matters that we have agreed to state to them, 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 Aero Engine Invest Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aero Engine Invest Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Aero Engine Invest Limited. You consider that Aero Engine Invest 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 accounts of Aero Engine Invest 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 accounts.

Thomas Quinn
Accountants
The Station House
15 Station Road
St Ives
Cambridgeshire
PE27 5BH

31 March 2017

Page 1

Aero Engine Invest Limited
(Registration number: 07688819)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 $			2015 $
Fixed assets
Investments					1,767,569			1,767,569
Current assets
Debtors					160			223
Cash at bank and in hand					1,991			91,066
					2,151			91,289
Creditors: Amounts falling due within one year					(179,951)			(155,361)
Net current liabilities					(177,800)			(64,072)
Total assets less current liabilities					1,589,769			1,703,497
Creditors: Amounts falling due after more than one year					(1,752,182)			(1,763,450)
Net liabilities					(162,413)			(59,953)
Capital and reserves
Called up share capital		3			160			160
Profit and loss account					(162,573)			(60,113)
Shareholders' deficit					(162,413)			(59,953)

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 31 March 2017

Mr M De Maere
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Aero Engine Invest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis. The directors and shareholders have stated that they will continue to support the company financially.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Investments $			Total $
Cost
Additions		1,767,569			1,767,569
At 30 June 2016		1,767,569			1,767,569
Depreciation
At 30 June 2016		-			-
Net book value
At 30 June 2016		1,767,569			1,767,569

Page 3

Aero Engine Invest Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			$			No.			$
Ordinary shares of €1.60 each		100			160			100			160

4

Control

The company is controlled by AeroConsult BVBA, a company registered in Belgium. The ultimate controlling party is M De Maere.

Page 4