Aviator Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09989624 (England and Wales)

Financial Statements for the Year Ended 30 November 2017

for

Aviator Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R N Bowles

Mrs E N Bowles

REGISTERED OFFICE:

Wingfield House

Cornwall Road

Harrogate

North Yorkshire

HG1 2NB

REGISTERED NUMBER:

09989624 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

2nd Floor, Woodside House

261 Low Lane

Horsforth

Leeds

West Yorkshire

LS18 5NY

CURRENT ASSETS

Stocks

20,130

1,499,355

Debtors

4

1,563,493

35,116

Cash at bank

201,277

28,036

1,784,900

1,562,507

CREDITORS

Amounts falling due within one year

5

976,495

1,668,672

NET CURRENT ASSETS/(LIABILITIES)

808,405

(106,165

)

TOTAL ASSETS LESS CURRENT LIABILITIES

808,405

(106,165

)

CAPITAL AND RESERVES

Called up share capital

2

2

Other reserves

82,693

-

Retained earnings

725,710

(106,167

)

SHAREHOLDERS' FUNDS

808,405

(106,165

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 15 May 2018 and were signed on its behalf by:

R N Bowles - Director

1.	STATUTORY INFORMATION

Aviator Developments 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.

Turnover

Turnover is recognised on the sale of properties at the point that the sale is binding. Turnover in

respect of ongoing property development is calculated as a percentage of the attributable profit on

each development as activity progresses.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised costs. Derivative financial instruments are

initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/17

30/11/16

£

£

Amounts recoverable on contract

1,287,500

-

Other debtors

275,993

35,116

1,563,493

35,116

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/17

30/11/16

£

£

Bank loans and overdrafts

-

732,917

Trade creditors

5,533

-

Taxation and social security

180,502

-

Other creditors

790,460

935,755

976,495

1,668,672

6.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/17

30/11/16

£

£

Bank loans

-

732,917

Lloyds bank Plc holds a fixed and floating charge over the property.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 November 2017

and the period ended 30 November 2016:

30/11/17

30/11/16

£

£

R N Bowles and Mrs E N Bowles

Balance outstanding at start of year

(10,515

)

-

Amounts advanced

168,800

1,485

Amounts repaid

(96,370

)

(12,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,915

(10,515

)

8.	RELATED PARTY DISCLOSURES

The directors are the controlling party by virtue of their shareholding.

During the year Aviator Developments Limited paid back to Duchy Properties Limited £185,400, at

the year end the balance owing to Aviator Developments Limited is £132,900 which is shown in other

debtors. In the previous year Aviator Developments Limited owed Duchy Properties Limited £52,500

shown in other creditors. This loan is repayable on demand.

During the year Robert Bowles Pension Trust loaned Aviator Developments Limited £767,307 (2016:

£750,000) which is still outstanding at the year end.