Checkflight Limited 04522016 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is property development and rentals Digita Accounts Production Advanced 6.30.9574.0 true true 04522016 2022-09-01 2023-08-31 04522016 2023-08-31 04522016 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-08-31 04522016 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-08-31 04522016 core:CurrentFinancialInstruments 2023-08-31 04522016 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04522016 core:FurnitureFittingsToolsEquipment 2023-08-31 04522016 core:OtherPropertyPlantEquipment 2023-08-31 04522016 bus:SmallEntities 2022-09-01 2023-08-31 04522016 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04522016 bus:FilletedAccounts 2022-09-01 2023-08-31 04522016 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04522016 bus:RegisteredOffice 2022-09-01 2023-08-31 04522016 bus:Director1 2022-09-01 2023-08-31 04522016 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-09-01 2023-08-31 04522016 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2022-09-01 2023-08-31 04522016 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04522016 core:ComputerEquipment 2022-09-01 2023-08-31 04522016 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 04522016 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 04522016 core:PlantMachinery 2022-09-01 2023-08-31 04522016 countries:EnglandWales 2022-09-01 2023-08-31 04522016 2022-08-31 04522016 core:FurnitureFittingsToolsEquipment 2022-08-31 04522016 core:OtherPropertyPlantEquipment 2022-08-31 04522016 2021-09-01 2022-08-31 04522016 2022-08-31 04522016 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-08-31 04522016 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2022-08-31 04522016 core:CurrentFinancialInstruments 2022-08-31 04522016 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04522016 core:FurnitureFittingsToolsEquipment 2022-08-31 04522016 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04522016

Checkflight Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Checkflight Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Checkflight Limited

Company Information

Director

D Creed

Registered office

Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

Accountants

Redwoods
Chartered Certified Accountants
2 Clyst Works
Clyst Road
Topsham
Exeter
Devon
EX3 0DB

 

Checkflight Limited

(Registration number: 04522016)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,903

9,439

Current assets

 

Stocks

5

300,372

267,432

Debtors

6

3,765

2,758

Cash at bank and in hand

 

366

379

 

304,503

270,569

Creditors: Amounts falling due within one year

7

(483,232)

(439,088)

Net current liabilities

 

(178,729)

(168,519)

Net liabilities

 

(175,826)

(159,080)

Capital and reserves

 

Called up share capital

8

150

150

Retained earnings

(175,976)

(159,230)

Shareholders' deficit

 

(175,826)

(159,080)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 April 2024
 

.........................................
D Creed
Director

 

Checkflight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Redwoods
2 Clyst Works
Clyst Road, Topsham
Exeter
Devon
EX3 0DB

The principal place of business is:
Ashton House
Highampton
Beaworthy
Devon
EX21 5LR
England

These financial statements were authorised for issue by the director on 9 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are presented in £ sterling and are rounded to £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Checkflight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Computer equipment

33% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Checkflight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2022

4,966

20,300

25,266

Additions

-

246

246

Disposals

-

(12,000)

(12,000)

At 31 August 2023

4,966

8,546

13,512

Depreciation

At 1 September 2022

3,854

11,973

15,827

Charge for the year

971

487

1,458

Eliminated on disposal

-

(6,676)

(6,676)

At 31 August 2023

4,825

5,784

10,609

Carrying amount

At 31 August 2023

141

2,762

2,903

At 31 August 2022

1,112

8,327

9,439

5

Stocks

2023
£

2022
£

Work in progress

300,372

267,432

6

Debtors

2023
£

2022
£

Other debtors

3,765

2,758

3,765

2,758

 

Checkflight Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

972

1,476

Accruals and deferred income

1,146

1,064

Other creditors

481,114

436,548

483,232

439,088

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

50

50

50

50

150

150

150

150