K&M Aviation Limited - Accounts

K&M Aviation Limited - Accounts

K&M AVIATION LIMITED - Company Information

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K&M Aviation Limited
Report and Accounts
For the Period Ended
31 August 2017
Company Number
10357617
K&M Aviation Limited
Report and Accounts
Period Ending 31 August 2017
Contents Page
Company Information 2
Report of the Directors 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Accounts 6 to 7
Company Information
Director
Mr. Keith Tarrant
Mrs Moira Tarrant
Registered Office
2 The Precinct
Rest Bay
Porthcawl
Glamorgan
CF36 3RF
K&M Aviation Limited
Report of the Directors
The director presents a report and financial statements for the year ended 31 August 2017
Principal Activities
The principal activity of the company is the provision of contract services.
Directors
The directors who served during the period and their interest in the shares of the company at the
beginning and end of the period were as follows:
Ordinary Shares of one GBP each
31 August 2017 31 August 2016
Mr. Keith Tarrant 50 50
Mrs Moira Tarrant 50 50
Small Company
Advantage has been taken of special exemptions applicable to small companies in the preparation
of this report
Registered Office On behalf of the board
2 The Precinct
Rest Bay
Porthcawl _________________
CF36 3RF Mr. Keith Tarrant
This report was approved by the board on 10 December 2017 and signed on its behalf
K&M Aviation Limited
Trading and Profit and Loss Account
Period Ending 31 August 2017
Note 2017 2016
No. £ £
Turnover 1 36359 0
Less Cost of Sales 0 0
-------- --------
Gross Profit 36359 0
Administrative Expenses 31216 0
-------- --------
Operating Profit 2 5143 0
Interest Received 0 0
Interest Payable 0 0
-------- --------
Profit on Ordinary Activities Before Taxation 5143 0
Taxation 4 761 0
-------- --------
Profit on Ordinary Activities After Taxation 4382 0
Dividends Paid 5000 0
-------- --------
Retained Surplus Transferred to Reserves 8 -618 0
===== =====
Total Recognised Gains And Losses
There are no other gains or losses for the year other than those going through the profit and loss
account.
Continuing Activities
All income and expenses are from continuing activities.
K&M Aviation Limited
Balance Sheet As At
31 August 2017
Note 2017 2017 2016 2016
No. £ £ £ £
Fixed Assets Intangible Assets 5 0 0
Tangible Assets 5 2704 0
-------- --------
Total Fixed Assets 5 2704 0
Current Assets:
Bank account 11029 0
Trade debtors 659 0
Work in progress 0 0
Directors loan account 0 0
-------- --------
11688 0
Creditors:
Amounts Falling due Within One Year 6 14910 0
-------- --------
Net Current Assets -3222 0
-------- --------
Total Assets Less Current Liabilities -518 0
===== =====
Capital and Reserves 2017 2016
£ £
Called up Share Capital 7 100 100
Profit and Loss Account 8 -618 0
-------- --------
Shareholders Funds 8 -518 100
===== =====
The financial statements are hereby approved by the board of directors.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit
under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act
2006 with respect to accounting records and the preperation of accounts. This statement fully complies
with section 475 of the Companies Act 2006.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006
applicable to companies subject to the small companies regime.
Mr. Keith Tarrant 10 December 2017
____________________ (director) _________________ Date
K&M Aviation Limited
Notes to the Accounts
Period Ending 31 August 2017
1. Accounting Policies
(a) The accounts have been prepared under the Historical Cost Convention. The principal policies
which the directors have adopted within that convention are set out below.
(b) Depreciation is provided on tangible fixed assets each year in order to write their value down
over their estimated lives. The rates that apply are as follows:
Office equipment 40%
Plant and equipment 15%
(c) The charge for taxation is based on the profit for the year and takes into account taxation
deferred because of timing differences between the treatment of certain items for accounting and
taxation purposes. Provision for deferred taxation is made under the liability method only to the
extent that it is probable that the liability will become payable in the foreseeable future.
(d) Turnover is stated as invoices issued, net of value added tax payable.
2. Operating Profit 2017
£
Operating profit is arrived at after charging:
Depreciation on tangible fixed assets 853
3. Directors Emoluments
The amounts received by the directors were as follows:
Management remuneration 9876
4. Deferred Tax
No provision has been made in respect of deferred taxation. The total potential provision
would have been nil.
5. Fixed Assets Intangible
Fixed Asset Tangible Fixed Assets
Plant & Office Total
Cost Goodwill Cost Equipment Equipment £
Opening balance 0 Opening balance 0 0 0
Additions 0 Additions 2276 1281 3557
Disposals 0 Revaluations 0 0 0
Closing balance 0 Closing balance 2276 1281 3557
Depreciation Depreciation
Opening balance 0 Opening balance 0 0 0
Charge for the year 0 Charge for the year 341 512 853
Disposals 0 Revaluations 0 0 0
Closing balance 0 Closing balance 341 512 853
Net Book Value Net Book Value
Closing balance 0 Closing balance 1935 769 2704
K&M Aviation Limited
Notes to the Accounts (Continued)
Period Ending 31 August 2017
6. Creditors: due within one year. 2017 2016
£ £
Creditors and accruals 657 0
Corporation tax 761 0
Paye and ni 275 0
VAT 691 0
Directors loan account 12526 0
---------- ----------
14910 0
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7. Share Capital
Allocated, called up and fully paid
Ordinary shares of one GBP each 100 100
====== ======
8. Shareholders Funds Share Profit & Shareholders
Capital Loss a/c Funds
£ £ £
Opening balance 100 0 100
Results for the year 0 -618 -618
---------- ---------- ----------
31 August 2017 100 -618 -518
====== ====== ======
9. Controlling Parties
Directors and a controlling party of the company within the definition contained in FRS 8 are identified as:
Mr. Keith Tarrant Mrs Moira Tarrant
This is the end of the statutory financial statements
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