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REGISTERED NUMBER: 05572335 (England and Wales)















EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: G Paton





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 05572335 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 55,509 29,640

CURRENT ASSETS
Inventories 180,391 209,879
Debtors 5 471,611 267,699
Cash at bank 27,382 89,281
679,384 566,859
CREDITORS
Amounts falling due within one year 6 348,051 235,013
NET CURRENT ASSETS 331,333 331,846
TOTAL ASSETS LESS CURRENT LIABILITIES 386,842 361,486

CREDITORS
Amounts falling due after more than one
year

7

(14,789

)

(24,928

)

PROVISIONS FOR LIABILITIES (14,710 ) (5,532 )
NET ASSETS 357,343 331,026

EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 357,243 330,926
SHAREHOLDERS' FUNDS 357,343 331,026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





G Paton - Director


EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

East Midlands Helicopters Engineering 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. ACCOUNTING POLICIES

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

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 10% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories is valued at the lower of cost and fair value less cost to complete and sell, after making due allowance for obsolete and slow moving inventories.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 94,494
Additions 40,472
At 31 December 2023 134,966
DEPRECIATION
At 1 January 2023 64,854
Charge for year 14,603
At 31 December 2023 79,457
NET BOOK VALUE
At 31 December 2023 55,509
At 31 December 2022 29,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 449,125 249,404
Prepayments 22,486 18,295
471,611 267,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,518 9,913
Trade creditors 196,179 136,576
Taxation 14,060 2,426
Other taxes and social security 71,596 29,109
Other creditors 21,385 28,086
Directors' current accounts 22,209 22,209
Accruals and deferred income 9,104 6,694
348,051 235,013

EAST MIDLANDS HELICOPTERS ENGINEERING
LIMITED (REGISTERED NUMBER: 05572335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,420 10,164
Bank loans - 2-5 years 4,369 14,764
14,789 24,928

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 3,355 -

The above debt is secured by a fixed and floating charge over the undertaking and all property and assets present and future.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100