First Air Limited - Limited company - abbreviated - 11.6
First Air Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| FOR |
| FIRST AIR LIMITED |
| FIRST AIR LIMITED (REGISTERED NUMBER: 04401539) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 March 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| FIRST AIR LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2014 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| FIRST AIR LIMITED (REGISTERED NUMBER: 04401539) |
| ABBREVIATED BALANCE SHEET |
| 31 March 2014 |
| 2014 | 2013 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the director on |
| FIRST AIR LIMITED (REGISTERED NUMBER: 04401539) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 March 2014 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on a going concern basis. The company is reliant on the continued support of |
| the holding company and the director and both parties have confirmed their continued support. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Aircraft | - |
| Computer equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2013 |
| and 31 March 2014 |
| DEPRECIATION |
| At 1 April 2013 |
| Charge for year |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| The company has carried out an impairment review of the aircraft which has resulted in an impairment loss of |
| £45,000. |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| FIRST AIR LIMITED (REGISTERED NUMBER: 04401539) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 March 2014 |
| 4. | ULTIMATE PARENT COMPANY |
| The company's ultimate parent company at the balance sheet date was Janus Medical Reporting Limited a |
| company incorporated in England and Wales. The ultimate parent undertaking is controlled by Mr D J Woodnutt |
| who is a majority shareholder. |
| 5. | RELATED PARTY DISCLOSURES |
| Mr D J Woodnutt is a director and shareholder in Janus Medical Reporting Limited and has a material interest in |
| transactions with that company. First Air Limited is also a wholly owned subsidiary of Janus Medical Reporting |
| Limited. |
| At 31 March 2014 the company owed Janus Medical Reporting Limited an amount totalling £470,023 (2013: |
| £348,583). |
| During the year Janus Medical Reporting Limited provided a further loan of £90,140. |
| Mr D J Woodnutt (director) has also loaned funds to the company, with an amount of £344,982 owed to him as |
| at 31 March 2014 (2013: £397,025). During the year further loans were made to the company totalling £54,097 |
| by way of paying suppliers on behalf of the company and loan repayments were made of £106,140. |