Aviator Developments Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09989624 (England and Wales)

Financial Statements

for the Period 5 February 2016 to 30 November 2016

for

Aviator Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R N Bowles

Mrs E N Bowles

REGISTERED OFFICE:

Wingfield House

Cornwall Road

Harrogate

North Yorkshire

HG1 2NB

REGISTERED NUMBER:

09989624 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Oakford House

291 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NU

CURRENT ASSETS

Stocks

1,499,355

Debtors

3

35,116

Cash at bank

28,036

1,562,507

CREDITORS

Amounts falling due within one year

4

1,668,672

NET CURRENT LIABILITIES

(106,165

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(106,165

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(106,167

)

SHAREHOLDERS' FUNDS

(106,165

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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 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 Board of Directors on 2 August 2017 and were signed on its behalf by:

R N Bowles - Director

1.	STATUTORY INFORMATION

Aviator Developments Limited 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 balance sheet shows negative shareholder`s funds. The directors consider the company to be a going

concern due to continuing support of the directors and shareholders.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 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 period 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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

35,116

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

732,917

Other creditors

935,755

1,668,672

5.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

732,917

Lloyds bank Plc holds a fixed and floating charge over the property.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 November 2016:

£

R N Bowles and Mrs E N Bowles

Balance outstanding at start of period

-

Amounts advanced

1,485

Amounts repaid

(12,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(10,515

)

7.	RELATED PARTY DISCLOSURES

The directors are the controlling party by virtue of their shareholding.

During the year Duchy Properties Limited loaned Aviator Developments Limited £52,500 which is still

outstanding at the year end. This loan is repayable on demand.

During the year Robert Bowles Pension Trust loaned Aviator Developments Limited £750,000 which is still

outstanding at the year end. This loan is repayable on demand.