0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,317,634 313,102 1,004,532 491,085 83,287 186,158 388,214 616,318 826,549 xbrli:pure xbrli:shares iso4217:GBP 04809844 2022-07-01 2023-06-30 04809844 2023-06-30 04809844 2022-06-30 04809844 2021-07-01 2022-06-30 04809844 2022-06-30 04809844 2021-06-30 04809844 bus:Director1 2022-07-01 2023-06-30 04809844 bus:Director2 2022-07-01 2023-06-30 04809844 core:PlantMachinery 2022-06-30 04809844 core:PlantMachinery 2023-06-30 04809844 core:WithinOneYear 2023-06-30 04809844 core:WithinOneYear 2022-06-30 04809844 core:AfterOneYear 2022-06-30 04809844 core:PlantMachinery 2022-07-01 2023-06-30 04809844 core:ShareCapital 2023-06-30 04809844 core:ShareCapital 2022-06-30 04809844 core:RetainedEarningsAccumulatedLosses 2023-06-30 04809844 core:RetainedEarningsAccumulatedLosses 2022-06-30 04809844 core:PlantMachinery 2022-06-30 04809844 bus:Director1 2022-06-30 04809844 bus:Director1 2023-06-30 04809844 bus:Director2 2022-06-30 04809844 bus:Director2 2023-06-30 04809844 bus:Director1 2021-06-30 04809844 bus:Director1 2022-06-30 04809844 bus:Director2 2021-06-30 04809844 bus:Director2 2022-06-30 04809844 bus:Director1 2021-07-01 2022-06-30 04809844 bus:Director2 2021-07-01 2022-06-30 04809844 bus:SmallEntities 2022-07-01 2023-06-30 04809844 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04809844 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04809844 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04809844 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 04809844
Helitrain Ltd
Filleted Unaudited Financial Statements
30 June 2023
Helitrain Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
616,318
826,549
Current assets
Debtors
5
58,284
49,856
Cash at bank and in hand
64,475
9,655
---------
--------
122,759
59,511
Creditors: amounts falling due within one year
6
971,669
247,021
---------
---------
Net current liabilities
848,910
187,510
---------
---------
Total assets less current liabilities
( 232,592)
639,039
Creditors: amounts falling due after more than one year
7
854,942
---------
---------
Net liabilities
( 232,592)
( 215,903)
---------
---------
Helitrain Ltd
Statement of Financial Position (continued)
30 June 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 232,594)
( 215,905)
---------
---------
Shareholders deficit
( 232,592)
( 215,903)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 January 2024 , and are signed on behalf of the board by:
Mrs G A L Heynes
Mr O J C Heynes
Director
Director
Company registration number: 04809844
Helitrain Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Gloucestershire, GL7 1US.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
Aircraft 5% straight line & other aircraft costs 15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 July 2022
1,317,634
1,317,634
Disposals
( 313,102)
( 313,102)
------------
------------
At 30 June 2023
1,004,532
1,004,532
------------
------------
Depreciation
At 1 July 2022
491,085
491,085
Charge for the year
83,287
83,287
Disposals
( 186,158)
( 186,158)
------------
------------
At 30 June 2023
388,214
388,214
------------
------------
Carrying amount
At 30 June 2023
616,318
616,318
------------
------------
At 30 June 2022
826,549
826,549
------------
------------
5. Debtors
2023
2022
£
£
Trade debtors
44,694
36,715
Other debtors
13,590
13,141
--------
--------
58,284
49,856
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
19,674
3,465
Social security and other taxes
40,726
7,562
Other creditors
911,269
235,994
---------
---------
971,669
247,021
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
854,942
----
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs G A L Heynes
( 544,905)
90,026
( 454,879)
Mr O J C Heynes
( 544,905)
90,026
( 454,879)
------------
---------
---------
( 1,089,810)
180,052
( 909,758)
------------
---------
---------
2022
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mrs G A L Heynes
( 662,339)
117,434
( 544,905)
Mr O J C Heynes
( 662,340)
117,435
( 544,905)
------------
---------
------------
( 1,324,679)
234,869
( 1,089,810)
------------
---------
------------