South Coast Aviation
South Coast Aviation
Unaudited Financial Statements
For The Year Ended 31 July 2017
ACCOUNTING SERVICES
FCMA
Field View
Peach Grove
Palestine, Andover
Hants
SP11 7EP
South Coast Aviation
Unaudited Financial Statements
For The Year Ended 31 July 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 3—4 |
South Coast Aviation
Balance Sheet
As at
31 July 2017
Balance Sheet
Registered number:
08144504
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,227 | 1,043 | |||
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Page 1
South Coast Aviation
Balance Sheet (continued)
As at
31 July 2017
The notes on pages 3 to 4 form part of these financial statements.
Page 2
South Coast Aviation
Notes to the Unaudited Accounts
For The Year Ended 31 July 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
4.
Tangible Assets
| Plant & Machinery | Computer Equipment | Total | |
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| Cost | |||
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| Additions |
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Stocks
| 2017 | 2016 | ||
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| £ | £ | ||
| Stock - materials |
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South Coast Aviation
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 July 2017
6.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| VAT |
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7.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Directors' loan accounts |
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9.
Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
10.
General Information
South Coast Aviation is a private company, limited by shares, incorporated in England & Wales, registered number 08144504 . The registered office is Unit 4B, Heritage Business Park, Gosport , Hants, PO12 4BG.
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