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REGISTERED NUMBER: 06938974 (England and Wales)















Pioneer Avionics UK Ltd

Unaudited Financial Statements for the Year Ended 30 June 2023






Pioneer Avionics UK Ltd (Registered number: 06938974)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Pioneer Avionics UK Ltd

Company Information
for the Year Ended 30 June 2023







Directors: Mrs S M Goodfellow
F A Cavaciuti





Registered office: The Byre
Hardwick
Abergavenny
Monmouthshire
NP7 9AB





Registered number: 06938974 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Pioneer Avionics UK Ltd (Registered number: 06938974)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £   
Fixed assets
Property, plant and equipment 4 28,497 31,797

Current assets
Cash at bank 1,441 587

Creditors
Amounts falling due within one year 5 (175,882 ) (178,135 )
Net current liabilities (174,441 ) (177,548 )
Total assets less current liabilities (145,944 ) (145,751 )

Capital and reserves
Called up share capital 100 100
Retained earnings (146,044 ) (145,851 )
Shareholders' funds (145,944 ) (145,751 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2024 and were signed on its behalf by:





Mrs S M Goodfellow - Director


Pioneer Avionics UK Ltd (Registered number: 06938974)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. Statutory information

Pioneer Avionics UK Ltd 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 (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property 33% straight line
Plant & machinery 33% straight line
Aeroplanes 7 years straight line

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Pioneer Avionics UK Ltd (Registered number: 06938974)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. Property, plant and equipment
Freehold Land & Plant and
property buildings machinery Aeroplanes Totals
£    £    £    £    £   
Cost
At 1 July 2022
and 30 June 2023 2,696 25,094 19,494 113,774 161,058
Depreciation
At 1 July 2022 2,696 - 12,793 113,772 129,261
Charge for year - - 3,300 - 3,300
At 30 June 2023 2,696 - 16,093 113,772 132,561
Net book value
At 30 June 2023 - 25,094 3,401 2 28,497
At 30 June 2022 - 25,094 6,701 2 31,797

5. Creditors: amounts falling due within one year
2023 2022
£    £   
Directors' loan accounts 175,300 177,164
Accrued expenses 582 971
175,882 178,135