Linford Aviation Limited Company Accounts

LINFORD AVIATION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06604146

LINFORD AVIATION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 May 2017

LINFORD AVIATION LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

LINFORD AVIATION LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	J J G Moutinho
	R G Moutinho

Company secretary	R G Moutinho

Registered office	44 Linford Street
	London
	SW8 4UN

LINFORD AVIATION LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2017

	2017		2016
Note	£	£	£	£

Current assets

Stocks	489,202	489,202
Cash at bank and in hand	18,442	16,295
	---------	---------
	507,644	505,497

Creditors: amounts falling due within one year	4	( 659,406)		( 659,406)
		---------		---------
Net current liabilities			( 151,762)		( 153,909)
			---------		---------
Total assets less current liabilities			( 151,762)		( 153,909)
			---------		---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 151,764)	( 153,911)
	---------	---------
Shareholders deficit	( 151,762)	( 153,909)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 26 February 2018 , and are signed on behalf of the board by:

R G Moutinho
Director

Company registration number: 06604146

LINFORD AVIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 44 Linford Street, London, SW8 4UN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	659,406	659,406
	---------	---------

5. Controlling party

The company has no ultimate controlling party.

6. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.

No transitional adjustments were required in equity or profit or loss for the year.