DBK Aero Ltd


FINANCIAL STATEMENTS


for the year ended 31st May 2024



DBK Aero Ltd

CONTENTS

for the year ended 31st May 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

DBK Aero Ltd

Company No. 12018936

STATEMENT OF FINANCIAL POSITION

as at 31st May 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment412581573
12581573
CURRENT ASSETS
Stocks555615-
Debtors6357959114158
Cash at bank and in hand2681159637
440385173795
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7136611107074
NET CURRENT ASSETS30377466721
TOTAL ASSETS LESS CURRENT LIABILITIES30503268294
 
Creditors: amounts falling due
after more than one year--
 
NET ASSETS30503268294
 
CAPITAL AND RESERVES
Called up share capital11
Retained earnings30503168293
SHAREHOLDERS FUNDS30503268294

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 31st May 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 16 September 2024


Kennedy D

Director

Company Number 12018936 (England)

DBK Aero Ltd

NOTES TO THE ACCOUNTS

for the year ended 31st May 2024


1   Statutory information

DBK Aero Ltd is a private company limited by shares and registered under company number 12018936 in England. Its registered office address is 33 Chartwell Road, Unit 4, Crown Buildings, Lancing Business Park, Lancing, West Sussex, England, BN15 8SP.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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:

Plant, machinery and vehicles15-25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Foreign Currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. All differences are taken to the Income Statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

3   Employee information

The average number of employees during the accounting period was 1 (2023 - 1).

4   Property, plant and equipment
 
Fixtures
and
FittingsTotal
££
Cost
At 1st June 2023 and
At 31st May 202427982798
 
Depreciation
At 1st June 2023 12251225
Charge for year315315
At 31st May 202415401540
 
Net Book Value
At 31st May 202412581258
At 31st May 202315731573

5   Stocks20242023
££
 
Finished goods and goods for resale55615-
55615-

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20242023
££
 
Trade Debtors286134104087
Other debtors7182510071
357959114158

7   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts2357079551
Corporation tax10268417993
Other creditors103579530
136611107074

8   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
Kennedy D302-
302-

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