Frances Rose Aviation Limited 09196588 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is providing pilot services and aviation maintenance. Digita Accounts Production Advanced 6.30.9574.0 true true 09196588 2023-09-01 2024-08-31 09196588 2024-08-31 09196588 bus:OrdinaryShareClass1 2024-08-31 09196588 core:RetainedEarningsAccumulatedLosses 2024-08-31 09196588 core:ShareCapital 2024-08-31 09196588 core:CurrentFinancialInstruments 2024-08-31 09196588 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09196588 core:FurnitureFittingsToolsEquipment 2024-08-31 09196588 bus:SmallEntities 2023-09-01 2024-08-31 09196588 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09196588 bus:FilletedAccounts 2023-09-01 2024-08-31 09196588 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09196588 bus:RegisteredOffice 2023-09-01 2024-08-31 09196588 bus:Director2 2023-09-01 2024-08-31 09196588 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 09196588 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09196588 core:ComputerEquipment 2023-09-01 2024-08-31 09196588 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09196588 countries:EnglandWales 2023-09-01 2024-08-31 09196588 2023-08-31 09196588 core:FurnitureFittingsToolsEquipment 2023-08-31 09196588 2022-09-01 2023-08-31 09196588 2023-08-31 09196588 bus:OrdinaryShareClass1 2023-08-31 09196588 core:RetainedEarningsAccumulatedLosses 2023-08-31 09196588 core:ShareCapital 2023-08-31 09196588 core:CurrentFinancialInstruments 2023-08-31 09196588 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09196588 core:FurnitureFittingsToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09196588

Frances Rose Aviation Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Frances Rose Aviation Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Frances Rose Aviation Limited

(Registration number: 09196588)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

523

170

Current assets

 

Debtors

66,875

50,000

Cash at bank and in hand

 

125,335

133,377

 

192,210

183,377

Creditors: Amounts falling due within one year

5

(22,310)

(43,906)

Net current assets

 

169,900

139,471

Total assets less current liabilities

 

170,423

139,641

Provisions for liabilities

(115)

(36)

Net assets

 

170,308

139,605

Capital and reserves

 

Called up share capital

100

100

Retained earnings

170,208

139,505

Shareholders' funds

 

170,308

139,605

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2024 and signed on its behalf by:
 

Mrs Michele Wilson
Director

   
     
 

Frances Rose Aviation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

The principal place of business is:
Settler's Lodge
Roman Bank Cross
Long Sutton
Spalding, Lincolnshire
PE12 9AT

These financial statements were authorised for issue by the Board on 30 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Frances Rose Aviation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Frances Rose Aviation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Asset class

Depreciation method and rate

Computer equipment

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Frances Rose Aviation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

2,679

2,679

Additions

534

534

Disposals

(261)

(261)

At 31 August 2024

2,952

2,952

Depreciation

At 1 September 2023

2,510

2,510

Charge for the year

142

142

Eliminated on disposal

(223)

(223)

At 31 August 2024

2,429

2,429

Carrying amount

At 31 August 2024

523

523

At 31 August 2023

170

170

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,248

-

Taxation and social security

20,309

42,676

Accruals and deferred income

402

1,230

Other creditors

351

-

22,310

43,906

 

Frances Rose Aviation Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Dividends

2024

2023

£

£

Interim dividend of £397.20 (2023 - £712.00) per ordinary share

39,720

71,200

 

 

8

Related party transactions

At the balance sheet date, the directors, Mr J Wilson and Mrs M Wilson, owed the company £50,000 (2023: £50,000). Interest has been charged on this loan.