Abbreviated Company Accounts - GOLF KILO AVIATION LIMITED

Abbreviated Company Accounts - GOLF KILO AVIATION LIMITED

GOLF KILO AVIATION LIMITED - Company Information

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Registered Number 07596000

GOLF KILO AVIATION LIMITED

Abbreviated Accounts

31 December 2015

GOLF KILO AVIATION LIMITED Registered Number 07596000

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets - -
Tangible assets 2 22,173 40,139
Investments - -
22,173 40,139
Current assets
Stocks - -
Debtors 2,645 1,989
Investments - -
Cash at bank and in hand 21,111 14,461
23,756 16,450
Prepayments and accrued income 938 -
Creditors: amounts falling due within one year (16,001) (2,081)
Net current assets (liabilities) 8,693 14,369
Total assets less current liabilities 30,866 54,508
Creditors: amounts falling due after more than one year 0 (5,000)
Provisions for liabilities 0 0
Accruals and deferred income 0 (101)
Total net assets (liabilities) 30,866 49,407
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account (19,134) (593)
Shareholders' funds 30,866 49,407
  • For the year ending 31 December 2015 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 28 September 2016

And signed on their behalf by:
Jay Patel, Director

GOLF KILO AVIATION LIMITED Registered Number 07596000

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The company operates an aircraft for the exclusive use of members on a not for profit basis.

Tangible assets depreciation policy
The company owns and operates an aircraft for the exclusive use of members. This is depreciated over it's economic life on a straight line basis

Other accounting policies
The company owned aircraft suffered an incident in October 2015 leaving the aircraft unserviceable. An insurance claim was lodged and the net value of the aircraft was written down to the claim agreed by insurers. Further expenditure was necessary to return the aircraft to flight operations. This work was completed in February 2016

2Tangible fixed assets
£
Cost
At 1 January 2015 48,900
Additions -
Disposals (26,727)
Revaluations -
Transfers -
At 31 December 2015 22,173
Depreciation
At 1 January 2015 8,761
Charge for the year 2,445
On disposals (11,206)
At 31 December 2015 0
Net book values
At 31 December 2015 22,173
At 31 December 2014 40,139