Aerobatic Tactics Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 07129467 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FOR

AEROBATIC TACTICS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

R J Pickin

SECRETARY:

REGISTERED OFFICE:

20 Havelock Road

HASTINGS

East Sussex

TN34 1BP

REGISTERED NUMBER:

07129467 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

FIXED ASSETS

Tangible assets

4

4,333

6,353

CURRENT ASSETS

Cash at bank

20,355

14,380

CREDITORS

Amounts falling due within one year

5

19,323

29,789

NET CURRENT ASSETS/(LIABILITIES)

1,032

(15,409

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,365

(9,056

)

PROVISIONS FOR LIABILITIES

6

867

-

NET ASSETS/(LIABILITIES)

4,498

(9,056

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

4,494

(9,060

)

SHAREHOLDERS' FUNDS

4,498

(9,056

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 3 April 2017 and were signed by:

R J Pickin - Director

1.	STATUTORY INFORMATION

Aerobatic Tactics Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have made an assessment about the company's ability to continue as a going concern and they do

not consider there to be any material uncertainties. As a result they have adopted the going concern basis of

accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover represents net invoiced sales of goods, 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of

the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2016

6,979

632

3,410

11,021

Additions

-

59

244

303

At 31 January 2017

6,979

691

3,654

11,324

DEPRECIATION

At 1 February 2016

1,745

303

2,620

4,668

Charge for year

1,308

224

791

2,323

At 31 January 2017

3,053

527

3,411

6,991

NET BOOK VALUE

At 31 January 2017

3,926

164

243

4,333

At 31 January 2016

5,234

329

790

6,353

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Payments on account

16,480

10,552

Taxation and social security

861

11,029

Other creditors

1,982

8,208

19,323

29,789

6.	PROVISIONS FOR LIABILITIES

31.1.17

31.1.16

£

£

Deferred tax

Accelerated capital allowances

867

-

Deferred

tax

£

Charge to Income Statement during year

867

Balance at 31 January 2017

867

7.	RELATED PARTY DISCLOSURES

A current account exists between the director and the company with no terms attached. The amount due to

related party at the balance sheet date was £1,022 (2016: £7,248).

8.	ULTIMATE CONTROLLING PARTY

The controlling party is R J Pickin.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the

company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and

certain other primary statements and the Report of the Director are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Aerobatic Tactics Ltd for the year ended 31 January 2017 which comprise the Income Statement,

Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Aerobatic Tactics Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aerobatic Tactics Ltd and state those matters that we have agreed to state to the director of Aerobatic Tactics Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aerobatic Tactics Ltd director for our work or for this report.

It is your duty to ensure that Aerobatic Tactics Ltd 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 profit of Aerobatic Tactics Ltd. You consider that Aerobatic Tactics Ltd 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 Aerobatic Tactics Ltd. 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.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

3 April 2017