365 Aviation Limited - Accounts to registrar (filleted) - small 18.2

365 Aviation Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 07488340 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2021

for

365 Aviation Limited

365 Aviation Limited (Registered number: 07488340)






Contents of the Financial Statements
for the Year Ended 31 March 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


365 Aviation Limited (Registered number: 07488340)

Balance Sheet
31 March 2021

31.3.21 31.3.20
Notes £    £   
FIXED ASSETS
Tangible assets 5 14,988 15,769

CURRENT ASSETS
Debtors 6 75,784 111,318
Cash at bank 189,264 336,922
265,048 448,240
CREDITORS
Amounts falling due within one year 7 (162,696 ) (234,571 )
NET CURRENT ASSETS 102,352 213,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,340

229,438

CREDITORS
Amounts falling due after more than
one year

8

(45,287

)

-

PROVISIONS FOR LIABILITIES (2,848 ) (2,996 )
NET ASSETS 69,205 226,442

365 Aviation Limited (Registered number: 07488340)

Balance Sheet - continued
31 March 2021

31.3.21 31.3.20
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 69,104 226,341
69,205 226,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 23 September 2021 and were signed on its behalf by:




C Tofts - Director



C C Baker - Director


365 Aviation Limited (Registered number: 07488340)

Notes to the Financial Statements
for the Year Ended 31 March 2021

1. STATUTORY INFORMATION

365 Aviation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07488340

Registered office: County House
46 New Broad Street
London
EC2M 1JH

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Fixtures and fittings - 15% on reducing balance

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.


365 Aviation Limited (Registered number: 07488340)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 4 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2020 25,076
Additions 1,725
At 31 March 2021 26,801
DEPRECIATION
At 1 April 2020 9,307
Charge for year 2,506
At 31 March 2021 11,813
NET BOOK VALUE
At 31 March 2021 14,988
At 31 March 2020 15,769

365 Aviation Limited (Registered number: 07488340)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Trade debtors - (99,154 )
Other debtors 75,784 210,472
75,784 111,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.21 31.3.20
£    £   
Bank loans and overdrafts 4,713 -
Trade creditors 2,298 87,275
Taxation and social security - 108
Other creditors 155,685 147,188
162,696 234,571

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.21 31.3.20
£    £   
Bank loans 45,287 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21 31.3.20
£    £   
C Tofts
Balance outstanding at start of year 45,105 34,951
Amounts advanced 18 45,753
Amounts repaid (45,072 ) (35,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51 45,105

10. RELATED PARTY DISCLOSURES

At the 31st March 2021, the company owed Mr C Baker (Director) £95,512 (2020: £95,071) in respect of expenses paid on behalf of the company or funds introduced.