Kilo Aviation Limited - Accounts to registrar (filleted) - small 17.3
Kilo Aviation Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Kilo Aviation Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2017 |
| Kilo Aviation Limited (Registered number: 04149509) |
| Contents of the Financial Statements |
| for the year ended 31 January 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Kilo Aviation Limited |
| Company Information |
| for the year ended 31 January 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 28 Eaton Avenue |
| Matrix Office Park |
| Buckshaw Village |
| Chorley |
| Lancashire |
| PR7 7NA |
| Kilo Aviation Limited (Registered number: 04149509) |
| Balance Sheet |
| 31 January 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| 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. |
| Kilo Aviation Limited (Registered number: 04149509) |
| Balance Sheet - continued |
| 31 January 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the director on |
| Kilo Aviation Limited (Registered number: 04149509) |
| Notes to the Financial Statements |
| for the year ended 31 January 2017 |
| 1. | STATUTORY INFORMATION |
| Kilo Aviation Limited is a |
| 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 |
| Going Concern |
| Notwithstanding the deficiency in net assets, the financial statements have been prepared on the going |
| concern basis as the director considers that the company will be able to continue to operate within its |
| agreed credit facilities, primarily bank and directors loans, and will continue to be able to pay its debts |
| as they fall due. Consequently, the financial statements do not include any adjustments that would |
| result from the withdrawal of facilities or the failure to meet the projected profit and cash flows. |
| Turnover |
| Turnover represents the net invoiced hire of aircraft, excluding value added tax, except in respect of |
| service contracts where turnover is recognised when the company obtains the right consideration. |
| Tangible fixed assets |
| Plant and machinery | - |
| Aircraft | - |
| 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. |
| Kilo Aviation Limited (Registered number: 04149509) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2017 |
| 3. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery | Aircraft | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2017 |
| DEPRECIATION |
| Charge for year |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| VAT | 17,147 | 2,297 |
| Other creditors |
| Accruals and deferred income |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Directors' loan account | 1,433,500 | 827,437 |
| Kilo Aviation Limited (Registered number: 04149509) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2017 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | 1 | 1,000 | 1,000 |
| 9. | RELATED PARTY DISCLOSURES |
| The company is controlled by its director IJN Gee. |
| 10. | FIRST YEAR ADOPTION |
| This is the first year in which the entity has adopted FRS102. The director has reviewed in detail the |
| requirements of FRS102 and having considered all aspects of the entity's accounting policies, the |
| director is able to confirm that there were no adjustments necessary to any comparative amounts as a |
| result of the transition to FRS102. |