The Light Aircraft Company Ltd |
Registered Number:03324556 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
The Light Aircraft Company Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
The Light Aircraft Company Ltd
Statement of Financial Position
2022
2023
21,491
23,879
Property, plant and equipment |
358,240
222,164
2
379,731
246,043
465,198
450,978
3
Trade and other receivables |
252,183
395,326
4
577,887
Cash and cash equivalents |
520,843
1,367,147
1,295,268
Trade and other payables: amounts falling due within one |
year |
(524,694)
(485,098)
5
770,574
882,049
Net current assets
Total assets less current liabilities |
1,261,780
1,016,617
Trade and other payables: amounts falling due after more |
than one year |
(9,000)
(9,000)
6
(52,339)
(52,339)
Provisions for liabilities |
1,200,441
Net assets
955,278
45,000
45,000
7,589
7,589
1,147,852
902,689
1,200,441
955,278
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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 Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2023
The Light Aircraft Company Ltd
Statement of Financial Position Continued
Mr P R Hendry-Smith Director |
These financial statements were approved and authorised for issue by the Board on 31 July 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
The Light Aircraft Company Ltd
Notes to the Financial Statements
Statutory Information
The Light Aircraft Company Ltd is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 03324556. |
23 Market Place
Fakenham
Norfolk
NR21 9BS
The presentation currency is £ sterling. |
Basis of preparing the financial statements
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
2. Property, plant and equipment |
Motor Vehicles
401,288
28,633
32,869
339,786
184,634
149,981
-
34,653
(10,174)
-
(17,840)
(28,014)
356,599
32,869
168,440
557,908
Provision for depreciation and impairment |
179,124
-
16,303
162,821
Charge for year
31,400
12,653
1,312
17,435
(10,856)
-
-
(10,856)
199,668
12,653
17,615
169,400
187,199
15,254
155,787
358,240
176,965
16,566
28,633
222,164
2022
2023
450,978
465,198
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For the year ended 31 March 2023
The Light Aircraft Company Ltd
Notes to the Financial Statements Continued
4. Trade and other receivables |
2022
2023
96,465
51,647
Prepayments and accrued income |
298,489
194,853
372
5,683
252,183
395,326
5. Trade and other payables: amounts falling due within one year |
2022
2023
25,528
29,710
Amounts owed to group undertaking and undertaking in which the |
company has a participating interest |
20,324
16,182
Taxation and social security |
86,291
55,784
Accruals and deferred income |
3,600
3,600
253,832
241,610
95,523
177,808
485,098
524,694
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
9,000
9,000
7. Average number of persons employed |
During the year the average number of employees was 18 (2022 : 17) including directors
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