Atlas Helicopters Limited - Accounts to registrar - small 17.2
Atlas Helicopters Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| ATLAS HELICOPTERS LIMITED |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ATLAS HELICOPTERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Landport Terrace |
| Portsmouth |
| Hampshire |
| PO1 2RG |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Atlas Helicopters Limited is a |
| 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 |
| Turnover |
| Turnover represents the total receivable value, excluding value added tax, of sales of goods and |
| services. |
| Air operators licence |
| The air operators licence is being written off over its estimated useful life of 10 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Equipment | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Trust |
| The company has created a trust whose beneficiaries will include employees of the company and their |
| dependents. Assets held under this trust will be controlled by trustees who will be acting independently |
| and entirely at their own discretion. |
| Where assets are held in the trust and these are considered by the company to be in respect of |
| services already provided by employees to the company, the company will account for these as assets |
| of the trust when payment is made to the trust. The value transferred will be charged in the company's |
| profit and loss account for the year to which it relates. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| AMORTISATION |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | Equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| ATLAS HELICOPTERS LIMITED (REGISTERED NUMBER: 04330355) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| VAT |
| GAC Ltd account |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation |
| Social security and other taxes |
| VAT | - | 21,628 |
| Company credit card |
| Directors' current accounts | 60,195 | 53,087 |
| Accruals |
| Deferred income | 48,752 | 127,287 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts | 507,000 | 13,561 |
| The hire purchase creditor is secured on the asset concerned. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £35,255 were paid to the director . |
| 11. | FIRST YEAR ADOPTION |
| These financial statements for the year ended 31 March 2017 are the first financial statements that |
| comply with FRS 102 and to include Section 1A small entities. The date of transition is 1 April 2015. |
| The transition to FRS 102 and Section 1A small entities has not resulted in any changes in accounting |
| policies to those used previously. |
| There are no reconciling items to report in either equity or profit during the transitional period to FRS |
| 102 and Section 1A |