Duplex Aviation Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03389736 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

DUPLEX AVIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P M Bird

Mrs A J Bird

SECRETARY:

Mrs A J Bird

REGISTERED OFFICE:

17 Cedar Close

Market Deeping

Peterborough

PE6 8BD

REGISTERED NUMBER:

03389736 (England and Wales)

ACCOUNTANTS:

Philip Barnes & Co Limited

Chartered Accountants

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

FIXED ASSETS

Tangible assets

3

324

537

CURRENT ASSETS

Debtors

4

4,112

1,700

Cash at bank

10,149

15,166

14,261

16,866

CREDITORS

Amounts falling due within one year

5

6,838

13,923

NET CURRENT ASSETS

7,423

2,943

TOTAL ASSETS LESS CURRENT LIABILITIES

7,747

3,480

PROVISIONS FOR LIABILITIES

-

100

NET ASSETS

7,747

3,380

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7,745

3,378

SHAREHOLDERS' FUNDS

7,747

3,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 Board of Directors on 23 March 2018 and were signed on its behalf by:

Mrs A J Bird - Director

1.	STATUTORY INFORMATION

Duplex Aviation Limited is a private company, limited by shares , registered in England and Wales. 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of the financial statements are set out below.

These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover

Turnover represents invoiced sales of services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost and 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2016

and 30 June 2017

3,362

DEPRECIATION

At 1 July 2016

2,825

Charge for year

213

At 30 June 2017

3,038

NET BOOK VALUE

At 30 June 2017

324

At 30 June 2016

537

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

4,112

1,700

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

1

Taxation and social security

6,118

5,300

Other creditors

720

8,622

6,838

13,923

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2017 and

30 June 2016:

2017

2016

£

£

Mrs A J Bird and P M Bird

Balance outstanding at start of year

(5,403

)

20,415

Amounts advanced

45,389

39,518

Amounts repaid

(35,875

)

(65,336

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,111

(5,403

)

Interest at the applicable beneficial loan rate has been charged on the directors' loan. The total interest paid

during the year was £214 (2016 - £612).

8.	FIRST YEAR ADOPTION

There have been no transitional adjustments required to the accounts as a result of the adoption of the new

accounting standard FRS 102.