Oxford Gliding Company Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00340261

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2014

for

Oxford Gliding Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G L Barrett

P Brooks

J Hanlon

G P Hawkins

P Morrison

I M Shepherd

SECRETARY:

G L Barrett

REGISTERED OFFICE:

Boston House

Henley-on-Thames

RG9 1DY

REGISTERED NUMBER:

00340261

ACCOUNTANTS:

Villars Hayward LLP

Chartered Accountants

Chartered Tax Advisers and Registered Auditors

Boston House

Henley-On-Thames

RG9 1DY

FIXED ASSETS

Tangible assets

2

24,050

24,282

CURRENT ASSETS

Debtors

24,543

28,139

Cash at bank and in hand

40,394

25,972

64,937

54,111

CREDITORS

Amounts falling due within one year

37,733

31,300

NET CURRENT ASSETS

27,204

22,811

TOTAL ASSETS LESS CURRENT LIABILITIES

51,254

47,093

CAPITAL AND RESERVES

Called up share capital

3

4,000

4,000

Aircraft revaluation reserve

21,221

22,007

Other reserves

3,644

3,644

Profit and loss account

22,389

17,442

SHAREHOLDERS' FUNDS

51,254

47,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2014 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 15 November 2014 and were signed on its behalf by:

G L Barrett - Director

I M Shepherd - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008).

Turnover

Turnover represents the value of subscriptions, flying fees and sales of services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated

useful life.

Hangar

- Over term of lease

Aircraft

- Straight line over 40 years

Major winch parts

- Straight line over 25 years

General equipment

- Straight line over 15 years

Cable retrieve vehicles

- Straight line over 3 years

Operating lease rentals

Rentals paid under operating leases are charged to income as incurred.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2013

218,995

Additions

3,964

At 30 September 2014

222,959

DEPRECIATION

At 1 October 2013

194,713

Charge for year

4,196

At 30 September 2014

198,909

NET BOOK VALUE

At 30 September 2014

24,050

At 30 September 2013

24,282

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.14

30.9.13

value:

£

£

4,000

Ordinary

£1

4,000

4,000