REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2021 |
for |
Chady Aero Development Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2021 |
for |
Chady Aero Development Ltd |
Chady Aero Development Ltd (Registered number: SC410572) |
Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chady Aero Development Ltd |
Company Information |
for the Year Ended 30 November 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Chady Aero Development Ltd (Registered number: SC410572) |
Balance Sheet |
30 November 2021 |
30.11.21 | 30.11.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Chady Aero Development Ltd (Registered number: SC410572) |
Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
1. | STATUTORY INFORMATION |
Chady Aero Development Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the continuing support of the creditors. |
Turnover |
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
Chady Aero Development Ltd (Registered number: SC410572) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 December 2020 |
Disposals | ( |
) |
At 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
5. | DEBTORS |
30.11.21 | 30.11.20 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.21 | 30.11.20 |
£ | £ |
Other creditors |
Chady Aero Development Ltd (Registered number: SC410572) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.21 | 30.11.20 |
value: | £ | £ |
Ordinary | £1 | 20,000 | 20,000 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2020 | ( |
) |
Deficit for the year | ( |
) |
At 30 November 2021 | ( |
) |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The company owed two directors £2,381,521 as at 30 November 2021 (2020: the company owed two directors £2,886,221 and a director owed £15,436 to the company). |
11. | RELATED PARTY DISCLOSURES |
Type of Transaction |
Movement in the year ended 30.11.21 |
Movement in the year ended 30.11.20 |
Balance receivable from/(payable to) related party as at 30.11.21 |
Balance receivable from/(payable to) related party as at 30.11.20 |
£ | £ | £ | £ |
Penlaw International Law Firm | Professional fee | 19,866 | 21,433 | nil | nil |
Directors fees | 4,000 | 4,000 | nil | nil |
Shareholder | Loan | nil | 2,864,905 | nil | nil |
Natterbox Limited | Investment | nil | nil | 1,205,190 | 1,205,190 |
Aero Engine Finance LLP | Investment | (484,989) | nil | 687,330 | 1,172,319 |
Current account | (198,136) | 76,954 | (294,307) | (96,171) |
Share of profit/(loss) | (198,136) | 76,954 | nil | nil |
The director of the company, is the director of Penlaw International Law Firm. |
The director of the company, is related to a director of Natterbox Limited. |
Chady Aero Development Limited is a member of Aero Engine Finance LLP. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is D Roth Le Gentil, by virtue of her shareholding in the company. |