Aeroco Holdings Limited - Period Ending 2017-03-31

Registration number: 08206951

Aeroco Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 March 2017

Alextra Group Ltd
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

Aeroco Holdings Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Aeroco Holdings Limited

(Registration number: 08206951)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Investments	3	302	302
Current assets
Debtors	4	461,595	100
Creditors: Amounts falling due within one year	5	(161,797)	(302)
Net current assets/(liabilities)		299,798	(202)
Net assets		300,100	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		300,000	-
Total equity		300,100	100

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 28 November 2017 and signed on its behalf by:
 

Mr J R Bird

Director

The notes on pages 2 to 5 form an integral part of these financial statements.

Page 1

Aeroco Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales .

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

The principal place of business is:
Hangar 4
Western Maintenance Area
Manchester International Airport
Manchester
M90 5YP

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Page 2

Aeroco Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

3	Investments

	2017 £	2016 £
Investments in subsidiaries	302	302

Subsidiaries	£
Cost or valuation
At 1 April 2016	302
At 31 March 2017	302
Carrying amount
At 31 March 2017	302
At 31 March 2016	302

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2017	2016
Subsidiary undertakings
Aeroco Group International Limited	England and Wales	Ordinary	100%	100%
Aerograph Limited	England and Wales	Ordinary	100%	100%
Aerocol (GB) Limited	England and Wales	Ordinary	100%	100%
Aeroco Group Limited	England and Wales	Ordinary	99%	99%
Aeroco Aircraft Engineering Limited	England and Wales	Ordinary	100%	100%
Aeroco Aircraft Engineering (Manchester) Limited	England and Wales	Ordinary	100%	100%

Page 3

Aeroco Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

The principal activity of Aeroco Group International Limited is that of aircraft maintenance

The principal activity of Aerograph Limited is that of aircraft maintenance

The principal activity of Aerocol (GB) Limited is that of aircraft maintenance

The principal activity of Aeroco Group Limited is that of a non-trading company

The principal activity of Aeroco Aircraft Engineering Limited is that of management services

The principal activity of Aeroco Aircraft Engineering (Manchester) Limited is that of a dormant company

The profit for the financial period of Aeroco Group International Limited was £630,654 and the aggregate amount of capital and reserves at the end of the period was £390,915.

The loss for the financial period of Aerograph Limited was £29,248 and the aggregate amount of capital and reserves at the end of the period was £28,989.

The loss for the financial period of Aerocol (GB) Limited was £12,755 and the aggregate amount of capital and reserves at the end of the period was £(72,588).

The loss for the financial period of Aeroco Group Limited was £1,187 and the aggregate amount of capital and reserves at the end of the period was £(45,559).

The loss for the financial period of Aeroco Aircraft Engineering Limited was £20 and the aggregate amount of capital and reserves at the end of the period was £80.

The profit for the financial period of Aeroco Aircraft Engineering (Manchester) Limited was £- and the aggregate amount of capital and reserves at the end of the period was £1.

4

Debtors

	2017 £	2016 £
Other debtors	461,595	100
Total current trade and other debtors	461,595	100

5

Creditors

	Note	2017 £	2016 £
Due within one year
Amounts owed to group undertakings	6	161,797	302

Page 4

Aeroco Holdings Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

6	Related party transactions

Summary of transactions with other related parties

Mr W J Sheil is the sole shareholder of the company.

During the year, the company made advances to Mr W J Sheil in the sum of £676,495 and repayments were made to the company in the sum of £215,000. At they year end, Mr W J Sheil owed the company the amount of £461,595 (2016: £100) and this amount is included in other debtors. The loan was interest free and repayable on demand.
 

7	Transition to FRS 102

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 (FRS 102), the financial reporting standard applicable in the UK and Republic of Ireland.

The date of transition was 1 April 2016, and there were minimal changes required to the company’s accounting policies.

There is no difference between the financial position or financial performance as a result of the transition.

Page 5