R B Air Limited Small abbreviated accounts

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COMPANY REGISTRATION NUMBER 04750192

R B Air Limited

Unaudited

Abbreviated accounts

30 September 2016

R B Air Limited

Abbreviated balance sheet

30 September 2016

		2016		2015
Note		£	£	£
Fixed assets	2
Tangible assets			861,169	854,437
			---------	---------

Current assets

Stocks		29,352		-
Debtors		52,156		131,240
Cash at bank and in hand		72,310		32,825
		---------		---------
		153,818		164,065
Creditors: Amounts falling due within one year	3	77,671		93,004
		---------		---------
Net current assets			76,147	71,061
			---------	---------
Total assets less current liabilities			937,316	925,498

Creditors: Amounts falling due after more than one year	4		334,707	384,118

Provisions for liabilities	4,788	-
	---------	---------
	597,821	541,380
	---------	---------

Capital and reserves

Called up equity share capital	6	100	100
Profit and loss account		597,721	541,280
		---------	---------
Shareholders' funds		597,821	541,380
		---------	---------

For the year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

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

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

These abbreviated accounts were approved and signed by the director and authorised for issue on 29 June 2017 .

Mr J Willock Director

Company Registration Number: 04750192

R B Air Limited

Notes to the abbreviated accounts

Year ended 30 September 2016

1. Accounting policies

(a) Basis of accounting

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).

(b) Turnover

The turnover shown in the profit and loss account represents the invoice value of rents receivable during the year, exclusive of Value Added Tax.

All fixed assets are initially recorded at cost. Fixed assets held by the company for use in operating leases are recorded as fixed assets and depreciated over their useful lives. Income from operating leases represents the aggregate rentals receivable in respect of the accounting period.

(d) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property-2% straight line

Leasehold Property-2% straight line

Motor Vehicles-25% straight line

No depreciation is provided on freehold land .

(e) Work in progress

Work in progress is valued at cost.

(f) Deferred taxation

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 average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

(g) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

2. Fixed assets

	Tangible Assets
	£

Cost

At 1 October 2015	1,043,358
Additions	27,000
	------------
At 30 September 2016	1,070,358
	------------

Depreciation

At 1 October 2015	188,921
Charge for year	20,268
	---------
At 30 September 2016	209,189
	---------

Net book value

At 30 September 2016	861,169
	---------

At 30 September 2015	854,437
	---------

At the year end the gross value of assets held for use in operating leases was £923,358 (2015 - £923,358). The related accumulated depreciation amounted to £207,389 (2015 - £188,921).

3. Creditors: Amounts falling due within one year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2016	2015
	£	£
Bank loans and overdrafts	54,766	62,713
	--------	--------

4. Creditors: Amounts falling due after more than one year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2016	2015
	£	£
Bank loans and overdrafts	334,707	384,118
	---------	---------

Included within creditors falling due after more than one year is an amount of £115,642 (2015 - £133,270) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.

5. Transactions with the director

Included within other debtors is an interest bearing advance made by the company to the director, Mr J Willock. The advance made by the company amounted to £45,000. A total of £0 was repaid to the company during the year and the balance outstanding at the year end amounted to £ 45,000 . The maximum outstanding advance during the year was £45,000. The advance outstanding at the year end was repaid in cash in the next financial period.

6. Share capital

Allotted, called up and fully paid:

	2016		2015
	No	£	No	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

7. Ultimate parent company

At the year end the company was controlled by RB Air Northwest Limited , a company registered in England and Wales.