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REGISTERED NUMBER: 03177150 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

EUROPEAN FLIGHT TRAINING NEWS LIMITED

EUROPEAN FLIGHT TRAINING NEWS LIMITED (REGISTERED NUMBER: 03177150)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


EUROPEAN FLIGHT TRAINING NEWS LIMITED

Company Information
for the Year Ended 31 October 2023







Director: J M Pratt





Registered office: Unit 1a Ringway Trading Estate
Shadowmoss Road
Manchester
M22 5LH





Registered number: 03177150 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

EUROPEAN FLIGHT TRAINING NEWS LIMITED (REGISTERED NUMBER: 03177150)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 372 490

Current assets
Debtors 6 32,933 22,955
Cash at bank 23,636 25,793
56,569 48,748
Creditors
Amounts falling due within one year 7 213,497 194,868
Net current liabilities (156,928 ) (146,120 )
Total assets less current liabilities (156,556 ) (145,630 )

Creditors
Amounts falling due after more than one
year

8

7,207

7,207
Net liabilities (163,763 ) (152,837 )

Capital and reserves
Called up share capital 9 30,000 30,000
Retained earnings (193,763 ) (182,837 )
Shareholders' funds (163,763 ) (152,837 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





J M Pratt - Director


EUROPEAN FLIGHT TRAINING NEWS LIMITED (REGISTERED NUMBER: 03177150)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

European Flight Training News Limited 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. Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support of the director. The director believes that it is appropriate for the financial statements to be prepared on a going concern basis.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable in the circumstances.

The company makes estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the related actual results. The estimates that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows:

a) impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment management considers factors including the current credit rating of the debtor, the aging profile and current and historical experience.

Going concern
As at 31 October 2023 the company had net liabilities of £163,763 the company is dependent on the continued support of the director and his related companies to continue to provide the necessary support as long as the company needs it.

On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the directors and associated companies were not to provide further support.

Turnover
Turnover 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 each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

EUROPEAN FLIGHT TRAINING NEWS LIMITED (REGISTERED NUMBER: 03177150)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued

Financial instruments
a) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price. Such assets are subsequently carried at amortised cost using the effective interest method.

b) Financial liabilities

Basic financial liabilities, including trade and other payables, and bank loans, are initially measured at transaction price. They are subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Tangible fixed assets
Artwork
£   
Cost
At 1 November 2022
and 31 October 2023 1,722
Depreciation
At 1 November 2022 1,232
Charge for year 118
At 31 October 2023 1,350
Net book value
At 31 October 2023 372
At 31 October 2022 490

EUROPEAN FLIGHT TRAINING NEWS LIMITED (REGISTERED NUMBER: 03177150)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 6,131 6,025
Other debtors 26,802 16,930
32,933 22,955

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 5,894 9,894
Trade creditors 9,417 14,638
Other creditors 198,186 170,336
213,497 194,868

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 4,440 4,440
Other creditors 2,767 2,767
7,207 7,207

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30,000 Ordinary £1 30,000 30,000

10. Related party disclosures

The company has taken advantage of not disclosing transactions with entities that are considered to be under normal market conditions.