IRIS Accounts Production v23.3.0.418 04149509 Board of Directors 1.2.23 31.8.23 31.8.23 0 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041495092023-01-31041495092023-08-31041495092023-02-012023-08-31041495092022-01-31041495092022-02-012023-01-31041495092023-01-3104149509ns10:Originalns15:EnglandWales2023-02-012023-08-3104149509ns14:PoundSterlingns10:Original2023-02-012023-08-3104149509ns10:Originalns10:Director12023-02-012023-08-3104149509ns10:Original2023-02-012023-08-3104149509ns10:Original2023-08-3104149509ns10:Originalns10:PrivateLimitedCompanyLtd2023-02-012023-08-3104149509ns10:Originalns10:SmallEntities2023-02-012023-08-3104149509ns10:Originalns10:AuditExempt-NoAccountantsReport2023-02-012023-08-3104149509ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-02-012023-08-3104149509ns10:SmallCompaniesRegimeForAccountsns10:Original2023-02-012023-08-3104149509ns10:Originalns10:FullAccounts2023-02-012023-08-3104149509ns10:Original2022-02-012023-01-3104149509ns10:Originalns10:OrdinaryShareClass12023-02-012023-08-3104149509ns10:Originalns10:Director22023-02-012023-08-3104149509ns10:Originalns10:RegisteredOffice2023-02-012023-08-3104149509ns10:Original2023-01-3104149509ns10:Originalns5:CurrentFinancialInstruments2023-08-3104149509ns10:Originalns5:CurrentFinancialInstruments2023-01-3104149509ns10:Originalns5:Non-currentFinancialInstruments2023-08-3104149509ns10:Originalns5:Non-currentFinancialInstruments2023-01-3104149509ns5:ShareCapitalns10:Original2023-08-3104149509ns5:ShareCapitalns10:Original2023-01-3104149509ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3104149509ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3104149509ns10:Originalns5:PlantMachinery2023-02-012023-08-3104149509ns10:Originalns5:MotorVehicles2023-02-012023-08-3104149509ns10:Originalns5:PlantMachinery2023-01-3104149509ns10:Originalns5:MotorVehicles2023-01-3104149509ns10:Original2023-01-3104149509ns10:Originalns5:PlantMachinery2023-08-3104149509ns10:Originalns5:MotorVehicles2023-08-3104149509ns10:Originalns5:PlantMachinery2023-01-3104149509ns10:Originalns5:MotorVehicles2023-01-3104149509ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3104149509ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104149509ns10:Originalns5:CurrentFinancialInstruments2023-02-012023-08-3104149509ns10:Originalns5:Non-currentFinancialInstruments2023-02-012023-08-3104149509ns5:Securedns10:Original2023-08-3104149509ns5:Securedns10:Original2023-01-3104149509ns10:Originalns10:OrdinaryShareClass12023-08-31
REGISTERED NUMBER: 04149509 (England and Wales)















Kilo Aviation Limited

Unaudited Financial Statements

for the Period 1 February 2023 to 31 August 2023






Kilo Aviation Limited (Registered number: 04149509)






Contents of the Financial Statements
for the period 1 February 2023 to 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kilo Aviation Limited

Company Information
for the period 1 February 2023 to 31 August 2023







DIRECTORS: JP Trevor
P Belshaw





REGISTERED OFFICE: 28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA





REGISTERED NUMBER: 04149509 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Kilo Aviation Limited (Registered number: 04149509)

Balance Sheet
31 August 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,430,872

CURRENT ASSETS
Debtors 5 4,672 48,250
Cash at bank 1,540,535 34,573
1,545,207 82,823
CREDITORS
Amounts falling due within one year 6 1,475,384 171,283
NET CURRENT ASSETS/(LIABILITIES) 69,823 (88,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,823

1,342,412

CREDITORS
Amounts falling due after more than one
year

7

-

1,569,599
NET ASSETS/(LIABILITIES) 69,823 (227,187 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 68,823 (228,187 )
SHAREHOLDERS' FUNDS 69,823 (227,187 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 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.

Kilo Aviation Limited (Registered number: 04149509)

Balance Sheet - continued
31 August 2023


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 24 October 2023 and were signed on its behalf by:





JP Trevor - Director


Kilo Aviation Limited (Registered number: 04149509)

Notes to the Financial Statements
for the period 1 February 2023 to 31 August 2023

1. STATUTORY INFORMATION

Kilo Aviation Limited 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.

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


The amounts in the financial statements have been rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoiced hire of aircraft, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right consideration.

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 - 20% on cost
Aircraft - 2% on cost

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the period 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.


Kilo Aviation Limited (Registered number: 04149509)

Notes to the Financial Statements - continued
for the period 1 February 2023 to 31 August 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery Aircraft Totals
£    £    £   
COST
At 1 February 2023 13,641 1,733,135 1,746,776
Disposals (13,641 ) (1,733,135 ) (1,746,776 )
At 31 August 2023 - - -
DEPRECIATION
At 1 February 2023 13,641 302,263 315,904
Eliminated on disposal (13,641 ) (302,263 ) (315,904 )
At 31 August 2023 - - -
NET BOOK VALUE
At 31 August 2023 - - -
At 31 January 2023 - 1,430,872 1,430,872

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 4,672 38,933
Other debtors - 9,317
4,672 48,250

Kilo Aviation Limited (Registered number: 04149509)

Notes to the Financial Statements - continued
for the period 1 February 2023 to 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans and overdrafts - 33,000
Trade creditors 8,821 128,618
Taxation and social security 10,921 3,540
Other creditors 1,455,642 6,125
1,475,384 171,283

Included within other creditors is an amount due to the directors of £1,320,599 (2023: £Nil). This amount is unsecure and interest free.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2023
£    £   
Bank loans - 324,000
Other creditors - 1,245,599
- 1,569,599

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 192,000

Included within other creditors is an amount due to the directors of £Nil (2023: £1,245,599). This amount is unsecured, interest free and has no fixed repayment date.

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Bank loans - 357,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
1,000 Ordinary 1 1,000 1,000

10. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by JP Trevor and P Belshaw.