AEROSPACE TRAVEL AGENTS LTD
Registered number: 06812706
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 634 746
Current assets
Debtors 4 102,353 73,030
Cash at bank and in hand 102,054 94,283
204,407 167,313
Creditors: amounts falling due within one year 5 (52,077) (40,700)
Net current assets 152,330 126,613
Total assets less current liabilities 152,964 127,359
Creditors: amounts falling due after more than one year 6 (82,702) (59,085)
Net assets 70,262 68,274
Capital and reserves
Called up share capital 40,000 40,000
Profit and loss account 30,262 28,274
Shareholder's funds 70,262 68,274
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A K M Yahya
Director
Approved by the board on 30 August 2023
AEROSPACE TRAVEL AGENTS LTD
Notes to the Accounts
for the year ended 28 February 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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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
£
Cost
At 1 March 2022 3,884
At 28 February 2023 3,884
Depreciation
At 1 March 2022 3,138
Charge for the year 112
At 28 February 2023 3,250
Net book value
At 28 February 2023 634
At 28 February 2022 746
4 Debtors 2023 2022
£ £
Trade debtors 102,210 72,719
Other debtors 143 311
102,353 73,030
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 35,929 26,855
Corporation tax 743 273
Other taxes and social security costs 203 101
Other creditors 15,202 13,471
52,077 40,700
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 43,678 49,001
Directors account 39,024 10,084
82,702 59,085
7 Other information
AEROSPACE TRAVEL AGENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
63-65 Princelet Street
London
E1 5LP
8 Controlling interest
Mr A K M Yahya has control of the company by virtue of 100% shareholding.
9 BSP Outstanding cash sales at 28 February 2023 was £22,329
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