Registered number
12168473
Aviiator Limited
Filleted Accounts
31 August 2023
Aviiator Limited
Registered number: 12168473
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 5,170 5,170
Tangible assets 4 217,305 239,772
222,475 244,942
Current assets
Stocks 410,000 289,000
Debtors 5 539,655 260,595
Cash at bank and in hand 33,053 42,939
982,708 592,534
Creditors: amounts falling due within one year 6 (369,241) (181,916)
Net current assets 613,467 410,618
Total assets less current liabilities 835,942 655,560
Creditors: amounts falling due after more than one year 7 (661,464) (517,261)
Net assets 174,478 138,299
Capital and reserves
Called up share capital 100 100
Profit and loss account 174,378 138,199
Shareholders' funds 174,478 138,299
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Abdul Mothin
Director
Approved by the board on 28 August 2024
Aviiator Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vehicles over 5 years
Land and buildings over 10 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 15
3 Intangible fixed assets £
Cost
At 1 September 2022 5,170
At 31 August 2023 5,170
Amortisation
At 31 August 2023 -
Net book value
At 31 August 2023 5,170
At 31 August 2022 5,170
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 30,748 228,850 5,550 265,148
Additions - 8,000 - 8,000
At 31 August 2023 30,748 236,850 5,550 273,148
Depreciation
At 1 September 2022 1,454 23,459 463 25,376
Charge for the year 3,074 26,283 1,110 30,467
At 31 August 2023 4,528 49,742 1,573 55,843
Net book value
At 31 August 2023 26,220 187,108 3,977 217,305
At 31 August 2022 29,294 205,391 5,087 239,772
5 Debtors 2023 2022
£ £
Trade debtors 204,405 107,988
Other debtors 335,250 152,607
539,655 260,595
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 80,881 9,782
Trade creditors 24,997 53,609
Taxation and social security costs 255,340 87,962
Other creditors 8,023 30,563
369,241 181,916
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 513,377 392,578
Other creditors 148,087 124,683
661,464 517,261
8 Other information
Aviiator Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Goresbrook Road
Dagenham
Essex
RM9 6UR
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