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K&M Aviation Limited |
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Report and Accounts |
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For the Period Ended |
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31 August 2018 |
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Company Number |
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10357617 |
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K&M Aviation Limited |
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Report and Accounts |
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Year Ending 31 August 2018 |
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| Contents |
Page |
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| Company Information |
2 |
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| Report of the Directors |
3 |
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| Profit and Loss Account |
4 |
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| Balance Sheet |
5 |
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| Notes to the Accounts |
6 to 7 |
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Company Information |
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Director |
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Mr. Keith Tarrant |
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Mrs Moira Tarrant |
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Registered Office |
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2 The Precinct |
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Rest Bay |
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Porthcawl |
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Glamorgan |
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CF36 3RF |
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K&M Aviation Limited |
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Report of the Directors |
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| The director presents a report and financial statements for the year ended 31 August 2018 |
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Principal Activities |
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| The principal activity of the company is the provision of contract services. |
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Directors |
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| The directors who served during the period and their interest in the shares of the company at the |
| beginning and end of the period were as follows: |
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Ordinary Shares of one GBP each |
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31 August 2018 |
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31 August 2017 |
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| Mr. Keith Tarrant |
50 |
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50 |
| Mrs Moira Tarrant |
50 |
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50 |
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Small Company |
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| Advantage has been taken of special exemptions applicable to small companies in the preparation |
| of this report |
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| Registered Office |
On behalf of the board |
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| 2 The Precinct |
| Rest Bay |
| Porthcawl |
_________________ |
| CF36 3RF |
Mr. Keith Tarrant |
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This report was approved by the board on 10 December 2018 and signed on its behalf |
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K&M Aviation Limited |
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Trading and Profit and Loss Account |
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Year Ending 31 August 2018 |
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Note |
2018 |
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2017 |
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No. |
£ |
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£ |
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| Turnover |
1 |
50813 |
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36359 |
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| Less Cost of Sales |
0 |
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0 |
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| Gross Profit |
50813 |
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36359 |
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| Administrative Expenses |
43484 |
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31216 |
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| Operating Profit |
2 |
7329 |
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5143 |
| Interest Received |
0 |
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0 |
| Interest Payable |
0 |
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0 |
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| Profit on Ordinary Activities Before Taxation |
7329 |
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5143 |
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| Taxation |
4 |
1515 |
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761 |
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| Profit on Ordinary Activities After Taxation |
5814 |
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4382 |
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| Dividends Paid |
5150 |
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5000 |
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| Retained Surplus Transferred to Reserves |
8 |
664 |
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-618 |
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Total Recognised Gains And Losses |
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| There are no other gains or losses for the year other than those going through the profit and loss |
| account. |
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Continuing Activities |
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| All income and expenses are from continuing activities. |
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K&M Aviation Limited |
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Balance Sheet As At |
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31 August 2018 |
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Note |
2018 |
2018 |
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2017 |
2017 |
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No. |
£ |
£ |
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£ |
£ |
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| Fixed Assets |
Intangible Assets |
5 |
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0 |
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2704 |
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Tangible Assets |
5 |
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2106 |
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0 |
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Total Fixed Assets |
5 |
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2106 |
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2704 |
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| Current Assets: |
| Bank account |
15557 |
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11029 |
| Trade debtors |
1327 |
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659 |
| Work in progress |
0 |
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0 |
| Directors loan account |
0 |
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0 |
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16884 |
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11688 |
| Creditors: |
| Amounts Falling due Within One Year |
6 |
18844 |
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11688 |
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| Net Current Assets |
-1960 |
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-3222 |
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| Total Assets Less Current Liabilities |
146 |
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-518 |
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| Capital and Reserves |
2018 |
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2017 |
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£ |
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£ |
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| Called up Share Capital |
7 |
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100 |
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100 |
| Profit and Loss Account |
8 |
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46 |
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-618 |
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| Shareholders Funds |
8 |
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146 |
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-518 |
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| The financial statements are hereby approved by the board of directors. |
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Mr. Keith Tarrant |
10 December 2018 |
| ____________________ |
(director) |
_________________ Date |
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K&M Aviation Limited |
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Notes to the Accounts |
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Year Ending 31 August 2018 |
| 1. Accounting Policies |
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| (a) The accounts have been prepared under the Historical Cost Convention. The principal policies |
| which the directors have adopted within that convention are set out below. |
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| (b) Depreciation is provided on tangible fixed assets each year in order to write their value down |
| over their estimated lives. The rates that apply are as follows: |
| Office equipment |
40% |
| Plant and equipment |
15% |
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| (c) The charge for taxation is based on the profit for the year and takes into account taxation |
| deferred because of timing differences between the treatment of certain items for accounting and |
| taxation purposes. Provision for deferred taxation is made under the liability method only to the |
| extent that it is probable that the liability will become payable in the foreseeable future. |
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| (d) Turnover is stated as invoices issued, net of value added tax payable. |
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| 2. Operating Profit |
2018 |
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2017 |
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£ |
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£ |
| Operating profit is arrived at after charging: |
| Depreciation on tangible fixed assets |
598 |
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0 |
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| 3. Directors Emoluments |
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| The amounts received by the directors were as follows: |
| Management remuneration |
8294 |
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0 |
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| 4. Deferred Tax |
| No provision has been made in respect of deferred taxation. The total potential provision |
| would have been nil. |
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| 5. Fixed Assets |
Intangible |
| Fixed Asset |
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Tangible Fixed Assets |
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Plant & |
Office |
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Total |
| Cost |
Goodwill |
Cost |
Equipment |
Equipment |
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£ |
| Opening balance |
0 |
Opening balance |
2276 |
1281 |
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3557 |
| Additions |
0 |
Additions |
0 |
0 |
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0 |
| Disposals |
0 |
Revaluations |
0 |
0 |
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0 |
| Closing balance |
0 |
Closing balance |
2276 |
1281 |
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3557 |
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| Depreciation |
Depreciation |
| Opening balance |
0 |
Opening balance |
341 |
512 |
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853 |
| Charge for the year |
0 |
Charge for the year |
290 |
308 |
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598 |
| Disposals |
0 |
Revaluations |
0 |
0 |
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0 |
| Closing balance |
0 |
Closing balance |
631 |
820 |
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1451 |
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| Net Book Value |
Net Book Value |
| Closing balance |
0 |
Closing balance |
1645 |
461 |
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2106 |
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K&M Aviation Limited |
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Notes to the Accounts (Continued) |
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Year Ending 31 August 2018 |
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| 6. Creditors: due within one year. |
2018 |
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2017 |
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£ |
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£ |
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| Creditors and accruals |
669 |
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657 |
| Corporation tax |
1515 |
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761 |
| Paye and ni |
0 |
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275 |
| VAT |
1635 |
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691 |
| Directors loan account |
15025 |
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12526 |
| ---------- |
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18844 |
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14910 |
| ====== |
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| 7. Share Capital |
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| Allocated, called up and fully paid |
| Ordinary shares of one GBP each |
100 |
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100 |
| ====== |
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| 8. Shareholders Funds |
Share |
Profit & |
Shareholders |
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Capital |
Loss a/c |
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Funds |
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£ |
£ |
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£ |
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| Opening balance |
100 |
-618 |
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-518 |
| Results for the year |
0 |
664 |
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664 |
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| 31 August 2018 |
100 |
46 |
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146 |
| ====== |
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| 9. Controlling Parties |
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| Directors and a controlling party of the company within the definition contained in FRS 8 are identified as: |
| Mr. Keith Tarrant |
Mrs Moira Tarrant |
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This is the end of the statutory financial statements |
