Avionics Support Sales Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09418864 (England and Wales)

Financial Statements

for the Year Ended 31st October 2017

for

Avionics Support Sales Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs J A Ferrett

M J Ferrett

N T J Duggan

L S Fagence

REGISTERED OFFICE:

The Coach House

The Street

Betchworth

Surrey

RH3 7DJ

REGISTERED NUMBER:

09418864 (England and Wales)

ACCOUNTANTS:

Braidwood Wheeler & Co

Chartered Certified Accountants

Goodman House

13a West Street

Reigate

Surrey

RH2 9BL

FIXED ASSETS

Tangible assets

4

1,079

1,438

CURRENT ASSETS

Debtors

5

147,706

123,951

Cash at bank and in hand

30,225

51,879

177,931

175,830

CREDITORS

Amounts falling due within one year

6

100,253

116,879

NET CURRENT ASSETS

77,678

58,951

TOTAL ASSETS LESS CURRENT LIABILITIES

78,757

60,389

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

77,757

59,389

SHAREHOLDERS' FUNDS

78,757

60,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 17th July 2018 and were signed on its behalf by:

Mrs J A Ferrett - Director

1.	STATUTORY INFORMATION

Avionics Support Sales 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Taxation

Taxation for the year comprises current 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st November 2016

and 31st October 2017

1,918

DEPRECIATION

At 1st November 2016

480

Charge for year

359

At 31st October 2017

839

NET BOOK VALUE

At 31st October 2017

1,079

At 31st October 2016

1,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

133,933

123,951

Amounts owed by associates

1,296

-

VAT

8,977

-

Prepayments

3,500

-

147,706

123,951

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other loans

25,000

25,000

Trade creditors

33,002

63,755

Corporation tax

17,134

14,530

VAT

-

2,265

Credit card balance due

22,535

8,746

Directors' current accounts

782

783

Accrued expenses

1,800

1,800

100,253

116,879

7.	ULTIMATE CONTROLLING PARTY

The controlling party is M J Ferrett.