Aviation Solutions Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03524551 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

AVIATION SOLUTIONS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T W Blakeman

M P Timson

SECRETARY:

J D Evans FCCA

REGISTERED OFFICE:

Cargo West

East Midlands Airport

Castle Donington

DERBY

Derbyshire

DE74 2TR

REGISTERED NUMBER:

03524551 (England and Wales)

ACCOUNTANTS:

Atkinson Evans Limited

Chartered Certified Accountants

The Old Drill Hall

10 Arnot Hill Road

Arnold

Nottingham

Nottinghamshire

NG5 6LJ

FIXED ASSETS

Tangible assets

4

14,319

19,369

Investments

5

1

1

14,320

19,370

CURRENT ASSETS

Debtors

173,615

182,297

Cash at bank and in hand

317,941

371,406

491,556

553,703

CREDITORS

Amounts falling due within one year

330,084

360,090

NET CURRENT ASSETS

161,472

193,613

TOTAL ASSETS LESS CURRENT LIABILITIES

175,792

212,983

PROVISIONS FOR LIABILITIES

2,868

2,289

NET ASSETS

172,924

210,694

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

172,724

210,494

SHAREHOLDERS' FUNDS

172,924

210,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

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 30th August 2017 and were signed on its behalf by:

T W Blakeman - Director

1.	STATUTORY INFORMATION

Aviation Solutions 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.

Turnover

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

value added tax and other sales taxes.

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

-

33% on reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 5 (2015 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2016

49,421

Additions

8,050

Disposals

(18,698

)

At 31st December 2016

38,773

DEPRECIATION

At 1st January 2016

30,052

Charge for year

3,971

Eliminated on disposal

(9,569

)

At 31st December 2016

24,454

NET BOOK VALUE

At 31st December 2016

14,319

At 31st December 2015

19,369

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st January 2016

and 31st December 2016

1

NET BOOK VALUE

At 31st December 2016

1

At 31st December 2015

1

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

11,411

2,656

Between one and five years

12,978

3,983

24,389

6,639

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2016 and

31st December 2015:

2016

2015

£

£

T W Blakeman

Balance outstanding at start of year

1,277

-

Amounts advanced

3,780

1,277

Amounts repaid

(1,277

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,780

1,277