Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalse2023-04-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09423742 2023-04-01 2024-03-31 09423742 2024-03-31 09423742 2022-04-01 2023-03-31 09423742 2023-03-31 09423742 c:Director1 2023-04-01 2024-03-31 09423742 d:PlantMachinery 2023-04-01 2024-03-31 09423742 d:PlantMachinery 2024-03-31 09423742 d:PlantMachinery 2023-03-31 09423742 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09423742 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09423742 d:OtherPropertyPlantEquipment 2024-03-31 09423742 d:OtherPropertyPlantEquipment 2023-03-31 09423742 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09423742 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09423742 d:CurrentFinancialInstruments 2024-03-31 09423742 d:CurrentFinancialInstruments 2023-03-31 09423742 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09423742 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09423742 d:ShareCapital 2024-03-31 09423742 d:ShareCapital 2023-03-31 09423742 d:RetainedEarningsAccumulatedLosses 2024-03-31 09423742 d:RetainedEarningsAccumulatedLosses 2023-03-31 09423742 c:FRS102 2023-04-01 2024-03-31 09423742 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09423742 c:FullAccounts 2023-04-01 2024-03-31 09423742 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09423742 2 2023-04-01 2024-03-31 09423742 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 09423742







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


J & G AEROSPACE LIMITED






































img122f.png                        

 


J & G AEROSPACE LIMITED
REGISTERED NUMBER:09423742



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,747
27,155

  
21,747
27,155

Current assets
  

Debtors: amounts falling due within one year
 5 
2,830
3,994

Bank and cash balances
  
44,430
48,166

  
47,260
52,160

Creditors: amounts falling due within one year
 6 
(4,769)
(5,835)

Net current assets
  
 
 
42,491
 
 
46,325

Total assets less current liabilities
  
64,238
73,480

  

Net assets
  
64,238
73,480


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
64,228
73,470

  
64,238
73,480


Page 1

 


J & G AEROSPACE LIMITED
REGISTERED NUMBER:09423742


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
H M Lees
Director

Date: 9 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


J & G AEROSPACE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
J & G Aerospace Limited is a private company limited by shares, registered in England and Wales. The address of its registered office and principal place of business is disclosed on the company information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


J & G AEROSPACE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% straight line
RV12 aircraft
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 


J & G AEROSPACE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
20,820
22,386

Social security costs
469
606

Cost of defined contribution scheme
-
8,000

21,289
30,992


The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Plant and machinery
RV12 Aircraft
Total

£
£
£



Cost or valuation


At 1 April 2023
10,102
51,590
61,692


Additions
537
-
537



At 31 March 2024

10,639
51,590
62,229



Depreciation


At 1 April 2023
8,742
25,795
34,537


Charge for the year on owned assets
786
5,159
5,945



At 31 March 2024

9,528
30,954
40,482



Net book value



At 31 March 2024
1,111
20,636
21,747



At 31 March 2023
1,360
25,795
27,155


5.


Debtors

2024
2023
£
£


Trade debtors
2,830
3,101

Other debtors
-
893

2,830
3,994


Page 5

 


J & G AEROSPACE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
1,183

Other taxation and social security
809
782

Other creditors
1,475
1,475

Accruals and deferred income
2,485
2,395

4,769
5,835


 
Page 6