Aerofoil Energy Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08789020 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

AEROFOIL ENERGY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P F McAndrew

R D Frost

N J Burke

D M Shapland

REGISTERED OFFICE:

Suite F2.1

Adelphi Mill Business Centre

Grimshaw Lane

Bollington

Cheshire

SK10 5JB

REGISTERED NUMBER:

08789020 (England and Wales)

ACCOUNTANTS:

Charles Lamb

Chartered Accountants

3 Blacklands Crescent

Forest Row

East Sussex

RH18 5NN

FIXED ASSETS

Tangible assets

4

14,639

-

CURRENT ASSETS

Debtors

5

370,741

257,282

Cash at bank

13,351

53,223

384,092

310,505

CREDITORS

Amounts falling due within one year

6

264,182

250,708

NET CURRENT ASSETS

119,910

59,797

TOTAL ASSETS LESS CURRENT LIABILITIES

134,549

59,797

CREDITORS

Amounts falling due after more than one year

7

-

25,000

NET ASSETS

134,549

34,797

CAPITAL AND RESERVES

Called up share capital

294

248

Share premium

403,854

184,940

Retained earnings

(269,599

)

(150,391

)

SHAREHOLDERS' FUNDS

134,549

34,797

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 August 2018 and were signed on its behalf by:

N J Burke - Director

1.	STATUTORY INFORMATION

Aerofoil Energy 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.

Plant and machinery

-

25% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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

Plant and

machinery

£

COST

Additions

14,950

At 30 November 2017

14,950

DEPRECIATION

Charge for year

311

At 30 November 2017

311

NET BOOK VALUE

At 30 November 2017

14,639

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

350,773

44,658

Other debtors

19,968

212,624

370,741

257,282

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

163,618

249,733

Taxation and social security

29,004

-

Other creditors

71,560

975

264,182

250,708

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

-

25,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

9.	RELATED PARTY DISCLOSURES