Brimpton Airfield Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 08418821 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

BRIMPTON AIRFIELD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J House

R Greatrex

Mrs G Greatrex

REGISTERED OFFICE:

1 High Street

Thatcham

Berks

RG19 3JG

REGISTERED NUMBER:

08418821 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Tangible assets

4

4,500

-

CURRENT ASSETS

Debtors

5

10,267

8,267

Cash at bank

10,525

2,118

20,792

10,385

CREDITORS

Amounts falling due within one year

6

9,310

7,155

NET CURRENT ASSETS

11,482

3,230

TOTAL ASSETS LESS CURRENT LIABILITIES

15,982

3,230

PROVISIONS FOR LIABILITIES

855

-

NET ASSETS

15,127

3,230

CAPITAL AND RESERVES

Called up share capital

100

1

Retained earnings

15,027

3,229

SHAREHOLDERS' FUNDS

15,127

3,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 2 May 2017 and were signed on its behalf by:

A J House - Director

1.	STATUTORY INFORMATION

Brimpton Airfield Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Plant and machinery

-

25% 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 that have been enacted or

substantively enacted by the balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

Additions

6,000

At 28 February 2017

6,000

DEPRECIATION

Charge for year

1,500

At 28 February 2017

1,500

NET BOOK VALUE

At 28 February 2017

4,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

28.2.16

£

£

Trade debtors

2,356

717

Amounts owed by group undertakings

7,911

7,550

10,267

8,267

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

28.2.16

£

£

Trade creditors

1,648

2,887

Taxation and social security

2,038

629

Other creditors

5,624

3,639

9,310

7,155

7.	CONTINGENT LIABILITIES

There were no contingent liabilities on 28th February 2017 or 28th February 2016.

8.	RELATED PARTY DISCLOSURES

The company is associated with Sylmar Aviation & Services Ltd which is controlled by Mr A. J. House. During

the year, the company incurred costs for management charges of Nil (2016 : £7,000) The balance outstanding, as

shown in debtors, was £7,911 (2016 : £7,550)

9.	ULTIMATE CONTROLLING PARTY

On 29 June 2016 the company alloted 999 10p ordinary shares. The director of the company, Mr R Greatrex, is

now considered to be the ultimate controlling party by virtue of a controlling interest of the issued ordinary share

capital.