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REGISTERED NUMBER: 01089050 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

AIRPLAN FLIGHT EQUIPMENT LIMITED

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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 4


AIRPLAN FLIGHT EQUIPMENT LIMITED

Company Information
for the Year Ended 31 October 2023







Director: J M Pratt





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





Registered number: 01089050 (England and Wales)





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

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 27,183 30,557
Investments 6 109,891 109,891
137,074 140,448

Current assets
Stocks 159,834 168,991
Debtors 7 207,733 196,467
Cash at bank 165,235 173,473
532,802 538,931
Creditors
Amounts falling due within one year 8 514,723 447,573
Net current assets 18,079 91,358
Total assets less current liabilities 155,153 231,806

Creditors
Amounts falling due after more than one
year

9

(23,380

)

(33,205

)

Provisions for liabilities (2,511 ) (2,511 )
Net assets 129,262 196,090

Capital and reserves
Called up share capital 11 5,110 5,110
Capital redemption reserve 110 110
Retained earnings 124,042 190,870
Shareholders' funds 129,262 196,090

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.

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

Statement of Financial Position - continued
31 October 2023


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


AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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


1. Statutory information

Airplan Flight Equipment 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 under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Airplan Flight Equipment Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 addressed below:

a) useful economic life of assets

The annual depreciation charge is sensitive to changes in the estimated useful economic lives and residual values of the assets. These are re-assessed on an annual basis.

b) stock provision

The company is a publisher, and sales are subject to changing consumer demands. When calculating the need for a stock provision, management consider the nature and condition of the stock holding, as well as applying assumptions around anticipated saleability,

c) 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.

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

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - 20% on cost
Artwork - 20% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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


4. Employees and directors

The average number of employees during the year was 5 (2022 - 5 ) .

5. Tangible fixed assets
Fixtures
and Motor Computer
Artwork fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 November 2022 352,494 78,641 19,262 49,304 499,701
Additions 13,169 178 - 198 13,545
At 31 October 2023 365,663 78,819 19,262 49,502 513,246
Depreciation
At 1 November 2022 332,355 68,332 19,178 49,279 469,144
Charge for year 15,749 996 83 91 16,919
At 31 October 2023 348,104 69,328 19,261 49,370 486,063
Net book value
At 31 October 2023 17,559 9,491 1 132 27,183
At 31 October 2022 20,139 10,309 84 25 30,557


6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 November 2022
and 31 October 2023 154,065
Provisions
At 1 November 2022
and 31 October 2023 44,174
Net book value
At 31 October 2023 109,891
At 31 October 2022 109,891

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 37,715 55,822
Amounts owed by group undertakings 164,023 114,730
Other debtors 5,995 25,915
207,733 196,467

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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


8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 65,057 70,400
Trade creditors 50,499 45,419
Amounts owed to group undertakings 333,660 274,054
Taxation and social security 1,064 5,617
Other creditors 64,443 52,083
514,723 447,573

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 23,380 33,205

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 65,057 70,400

The overdraft with National Westminster Bank plc is secured by way of fixed and floating charge over the assets of the company.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000
110 Ordinary B £1 110 110
110 Ordinary C £1 - -
5,110 5,110

12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
J M Pratt
Balance outstanding at start of year (1,181 ) (183 )
Amounts advanced - 1,320
Amounts repaid - (2,318 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,181 ) (1,181 )

AIRPLAN FLIGHT EQUIPMENT LIMITED (REGISTERED NUMBER: 01089050)

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


13. Related party disclosures

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