Aerovision (UK) Ltd |
Notes to the Accounts |
for the year ended 31 January 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at the following rates: |
|
|
Plant and machinery |
15% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is the invoice price). |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 February 2022 |
5,519 |
|
27,950 |
|
33,469 |
|
At 31 January 2023 |
5,519 |
|
27,950 |
|
33,469 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2022 |
3,223 |
|
21,317 |
|
24,540 |
|
Charge for the year |
344 |
|
1,658 |
|
2,002 |
|
At 31 January 2023 |
3,567 |
|
22,975 |
|
26,542 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2023 |
1,952 |
|
4,975 |
|
6,927 |
|
At 31 January 2022 |
2,296 |
|
6,633 |
|
8,929 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
2,193 |
|
4,838 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
29,390 |
|
33,590 |
|
Trade creditors |
2,813 |
|
4,006 |
|
Taxation and social security costs |
4,902 |
|
7,143 |
|
Other creditors |
49,149 |
|
32,891 |
|
|
|
|
|
|
86,254 |
|
77,630 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
G R Suggett |
|
Directors loan account |
32,891 |
|
(3,252) |
|
19,510 |
|
49,149 |
|
|
|
32,891 |
|
(3,252) |
|
19,510 |
|
49,149 |
|
|
|
|
|
|
|
|
|
|
7 |
Controlling party |
|
|
The company is controlled by its director. |
|
|
8 |
Other information |
|
|
Aerovision (UK) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
22 Mountfield Gardens |
|
Newcastle Upon Tyne |
|
NE3 3DB |