Blue Marble Aviation Limited - Period Ending 2018-04-30
Blue Marble Aviation Limited - Period Ending 2018-04-30
Registration number:
Blue Marble Aviation Limited
for the Year Ended 30 April 2018
102 Fulham Palace Road
London
W6 9PL
Blue Marble Aviation Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Blue Marble Aviation Limited
Company Information
Directors |
Mr Oliver Mayes Mr Garry Ramsden |
Registered office |
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Accountants |
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Page 1 |
Blue Marble Aviation Limited
(Registration number: 08493749)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
Page 2 |
Blue Marble Aviation Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements
The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 3 |
Blue Marble Aviation Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 4 |
Blue Marble Aviation Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Financial instruments
Classification
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Blue Marble Aviation Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 May 2017 |
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Disposals |
( |
( |
At 30 April 2018 |
- |
- |
Depreciation |
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At 1 May 2017 |
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Eliminated on disposal |
( |
( |
At 30 April 2018 |
- |
- |
Carrying amount |
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At 30 April 2018 |
- |
- |
At 30 April 2017 |
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Debtors |
2018 |
2017 |
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Trade debtors |
- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Page 6 |
Blue Marble Aviation Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Transactions with directors |
2018 |
At 1 May 2017 |
Advances to directors |
Repayments by director |
At 30 April 2018 |
Mr Garry Ramsden |
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Amount owed to/(from) the director |
47,920 |
( |
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Mr Oliver Mayes |
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Amount owed/(from) the director |
31,654 |
( |
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2017 |
At 1 May 2016 |
Advances to directors |
At 30 April 2017 |
Mr Garry Ramsden |
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Amount owed to/(from) the director |
152,053 |
( |
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Mr Oliver Mayes |
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Amount owed/(from) the director |
150,018 |
( |
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Page 7 |