1013 Aviation Ltd - Limited company accounts 17.3

REGISTERED NUMBER: 06136256 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

1013 AVIATION LTD

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

A C Gray

REGISTERED OFFICE:

Unit C3

Fairoaks Airport

Chobham

Surrey

GU24 8HU

REGISTERED NUMBER:

06136256 (England and Wales)

ACCOUNTANTS:

L E Marshall & Co

Chartered Accountants

Unit C3

Fairoaks Airport

Chobham

Surrey

GU24 8HU

The director presents his report with the financial statements of the company for the year ended 31 March 2017.

DIRECTOR

A C Gray held office during the whole of the period from 1 April 2016 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

A C Gray - Director

16 November 2017

TURNOVER

76,532

206,521

Cost of sales

18,125

116,764

GROSS PROFIT

58,407

89,757

Administrative expenses

61,663

72,706

OPERATING (LOSS)/PROFIT

4

(3,256

)

17,051

Interest receivable and similar income

3

7

(3,253

)

17,058

Interest payable and similar expenses

2

89

(LOSS)/PROFIT BEFORE TAXATION

(3,255

)

16,969

Tax on (loss)/profit

795

1,316

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(4,050

)

15,653

FIXED ASSETS

Tangible assets

5

33,718

39,543

CURRENT ASSETS

Debtors

6

13,963

20,240

Cash at bank

2,912

23,761

16,875

44,001

CREDITORS

Amounts falling due within one year

7

4,574

9,383

NET CURRENT ASSETS

12,301

34,618

TOTAL ASSETS LESS CURRENT LIABILITIES

46,019

74,161

CREDITORS

Amounts falling due after more than one year

8

8,908

-

NET ASSETS

37,111

74,161

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

37,110

74,160

SHAREHOLDERS' FUNDS

37,111

74,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 16 November 2017 and were signed by:

A C Gray - Director

1.	STATUTORY INFORMATION

1013 Aviation Ltd 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 cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

4.	OPERATING (LOSS)/PROFIT

The operating loss (2016 - operating profit) is stated after charging:

31.3.17

31.3.16

£

£

Depreciation - owned assets

19,193

17,948

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

32,897

3,399

32,620

3,551

72,467

Additions

3,065

-

10,303

-

13,368

Disposals

-

-

(6,220

)

(2,161

)

(8,381

)

At 31 March 2017

35,962

3,399

36,703

1,390

77,454

DEPRECIATION

At 1 April 2016

16,491

680

12,820

2,933

32,924

Charge for year

8,990

680

9,176

347

19,193

Eliminated on disposal

-

-

(6,220

)

(2,161

)

(8,381

)

At 31 March 2017

25,481

1,360

15,776

1,119

43,736

NET BOOK VALUE

At 31 March 2017

10,481

2,039

20,927

271

33,718

At 31 March 2016

16,406

2,719

19,800

618

39,543

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

8,400

10,038

Other debtors

5,563

10,202

13,963

20,240

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

1,441

-

Trade creditors

262

1,653

Taxation and social security

1,672

6,720

Other creditors

1,199

1,010

4,574

9,383

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

8,908

-

9.	RELATED PARTY DISCLOSURES

The company is controlled by the director as he owns all of the issued share capital.