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REGISTERED NUMBER: 11367723 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2023

for

Avtec Flight Training Europe Limited

Avtec Flight Training Europe Limited (Registered number: 11367723)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Avtec Flight Training Europe Limited (Registered number: 11367723)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,521 4,662

CURRENT ASSETS
Debtors 5 17,225 15,212
Cash at bank 4,537 -
21,762 15,212
CREDITORS
Amounts falling due within one year 6 14,208 5,113
NET CURRENT ASSETS 7,554 10,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,075

14,761

CREDITORS
Amounts falling due after more than one
year

7

(8,999

)

(12,000

)

PROVISIONS FOR LIABILITIES (4,089 ) (960 )
NET ASSETS 15,987 1,801

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings 15,886 1,700
SHAREHOLDERS' FUNDS 15,987 1,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 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 applicable to companies subject to the small companies regime.

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 6th October 2023 and were signed on its behalf by:





Captain G P Waudby - Director


Avtec Flight Training Europe Limited (Registered number: 11367723)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. COMPANY INFORMATION

Avtec Flight Training Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11367723

Registered office: First Floor
49 Peter Street
Manchester
M2 3NG

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover
Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Computer Equipment - 25% on cost
Plant and Machinery - 20% on cost
Motor Vehicles - 10% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Avtec Flight Training Europe Limited (Registered number: 11367723)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st June 2022 7,000 - 4,680 11,680
Additions - 20,050 - 20,050
At 31st May 2023 7,000 20,050 4,680 31,730
DEPRECIATION
At 1st June 2022 4,900 - 2,118 7,018
Charge for year 1,400 668 1,123 3,191
At 31st May 2023 6,300 668 3,241 10,209
NET BOOK VALUE
At 31st May 2023 700 19,382 1,439 21,521
At 31st May 2022 2,100 - 2,562 4,662

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 17,225 9,550
Directors' current accounts - 5,662
17,225 15,212

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 3,000 4,134
Corporation tax payable 5,548 384
Directors' current accounts 4,184 -
Accrued expenses 1,476 595
14,208 5,113

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 8,999 12,000

The bounce back loan is government backed for the first year and interest is charged at 2.5% for the rest of the loan term, which is up to a maximum of 6 years.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary A 1 100 100
1 Ordinary B 1 1 1
101 101

Avtec Flight Training Europe Limited (Registered number: 11367723)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

8. CALLED UP SHARE CAPITAL - continued

Ordinary A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

Ordinary B Shares do no confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A and B shares rank pari passu in terms of dividend and capital distribution rights.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2023 and 31st May 2022:

31.5.23 31.5.22
£    £   
Captain G P Waudby and Mrs C D Waudby
Balance outstanding at start of year 5,662 13,065
Amounts advanced 13,466 22,665
Amounts repaid (23,312 ) (30,068 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,184 ) 5,662

The loan is repayable on demand and no interest was charged during the year.

10. CONTROL

The controlling party is Captain G P Waudby.