Abbreviated Company Accounts - GOLF KILO AVIATION LIMITED

GOLF KILO AVIATION LIMITED - Company Information

07596000 GOLF KILO AVIATION LIMITED 2013-12-31 false 2013-01-01 2013-12-31 true 07596000 2013-01-01 2013-12-31 07596000 2013-12-31 07596000 2012-12-31 07596000 uk-gaap-cd-bus:Director1 2013-01-01 2013-12-31 07596000 uk-gaap-cd-bus:Director2 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-01-01 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2012-12-31 iso4217:GBP shares

Registered Number 07596000

GOLF KILO AVIATION LIMITED

Abbreviated Accounts

31 December 2013

GOLF KILO AVIATION LIMITED Registered Number 07596000

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Fixed assets
Tangible assets	2	42,584	45,029
		42,584	45,029
Current assets
Cash at bank and in hand		11,924	14,118
		11,924	14,118
Prepayments and accrued income		1,837	1,908
Creditors: amounts falling due within one year		(1,632)	(969)
Net current assets (liabilities)		12,129	15,057
Total assets less current liabilities		54,713	60,086
Creditors: amounts falling due after more than one year		(5,000)	(10,000)
Total net assets (liabilities)		49,713	50,086
Capital and reserves
Called up share capital	3	50,000	50,000
Profit and loss account		(287)	86
Shareholders' funds		49,713	50,086

For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 16 September 2014

And signed on their behalf by:
K Jass, Director
J Patel, Director

GOLF KILO AVIATION LIMITED Registered Number 07596000

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.

Turnover policy
Turnover is recognised at fair value of the consideration received or receivable for the sales of goods and services in the ordinary nature of business. Turnover is shown net of Value Added Tax, of goods and services provided.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of a tangible fixed asset, less estimated residual value, over the useful economic life of the asset as follows:

5% straight line

Other accounting policies
The Directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cashflow statement in the financial statements on the grounds that the company is small.

Principal Activities
The principal activity of the company during the year was to operate an aircraft for non-commercial use by members of a flying club. The members of the flying club are also shareholders of the company. This is a not-for-profit company organised on a mutual trading basis.

Related Party Transactions
The turnover of the company is wholly with to members of a flying club who are all also shareholders of the company.

2Tangible fixed assets

	£
Cost
At 1 January 2013	48,900
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	48,900
Depreciation
At 1 January 2013	3,871
Charge for the year	2,445
On disposals	-
At 31 December 2013	6,316
Net book values
At 31 December 2013	42,584
At 31 December 2012	45,029

3Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
50,000 Ordinary shares of £1 each	50,000	50,000