Micro-entity Accounts - APMS AVIATION LIMITED

Micro-entity Accounts - APMS AVIATION LIMITED

APMS AVIATION LIMITED - Company Information

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Registered Number 07411839

APMS AVIATION LIMITED

Micro-entity Accounts

31 December 2016

APMS AVIATION LIMITED Registered Number 07411839

Micro-entity Balance Sheet as at 31 December 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 179,662 132,427
179,662 132,427
Current assets
Debtors 149,258 129,742
Cash at bank and in hand 675,546 511,924
824,804 641,666
Creditors: amounts falling due within one year (215,619) (182,749)
Net current assets (liabilities) 609,185 458,917
Total assets less current liabilities 788,847 591,344
Provisions for liabilities (40,000) (25,000)
Total net assets (liabilities) 748,847 566,344
Capital and reserves
Called up share capital 2 2
Profit and loss account 748,845 566,342
Shareholders' funds 748,847 566,344
  • For the year ending 31 December 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
  • The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 September 2017

And signed on their behalf by:
John Leo Larkin, Director

APMS AVIATION LIMITED Registered Number 07411839

Notes to the Micro-entity Accounts for the period ended 31 December 2016

1Accounting Policies

Basis of measurement and preparation of accounts
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class - Depreciation method and rate
Plant & machinery - 25% straight line basis
Computer equipment - 33% straight line basis

Other accounting policies
Deferred tax:
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.