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Registration number: 13871649

AM&N Flight Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

AM&N Flight Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

AM&N Flight Services Ltd

Company Information

Directors





 

A B Martin

N T Martin

Registered office






 

Tangalooma
Sydney Road
Bordon
Hampshire
GU35 0BL

Accountants

A S Partnership Ltd
Chartered Certified Accountants
158 Stafford Road
Wallington
Surrey
SM6 9BS

 

AM&N Flight Services Ltd

(Registration number: 13871649)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

           

Fixed Assets

   

 

Tangible Assets

4

 

1,901

 

712

Current assets

   

 

Stocks

5

8,462

 

-

 

Debtors

6

13,191

 

2,553

 

Cash at bank and in hand

 

3,928

 

12,456

 

 

25,581

 

15,009

 

Creditors: Amounts falling due within one year

7

(20,230)

 

(15,254)

 

Net current assets/(liabilities)

   

5,351

 

(245)

Total assets less current liabilities

   

7,252

 

467

Provisions for liabilities

 

(404)

 

(135)

Net assets

   

6,848

 

332

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

6,748

 

232

 

Total equity

   

6,848

 

332

For the financial year ending 31 January 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.

 

AM&N Flight Services Ltd

(Registration number: 13871649)
Balance Sheet as at 31 January 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

As permitted by s444A and s444(5A) of the Companies Act 2006, the directors have not delivered to the Registrar a copy of the directors report, profit and loss account and associated notes.

Approved and authorised by the Board on 11 October 2024 and signed on its behalf by:
 

.........................................
A B Martin
Director

 

AM&N Flight Services Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Tangalooma
Sydney Road
Bordon
Hampshire
GU35 0BL
United Kingdom

These financial statements were authorised for issue by the Board on 11 October 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.

Going concern

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

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:

 

AM&N Flight Services Ltd

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

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

AM&N Flight Services Ltd

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

3

Staff numbers

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

4

Tangible Assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

950

950

Additions

1,793

1,793

At 31 January 2024

2,743

2,743

Depreciation

At 1 February 2023

238

238

Charge for the year

604

604

At 31 January 2024

842

842

Carrying amount

At 31 January 2024

1,901

1,901

At 31 January 2023

712

712

5

Stocks

2024
£

2023
£

Work in progress

8,462

-

 

AM&N Flight Services Ltd

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

6

Debtors

2024
£

2023
£

Other debtors

13,191

2,553

Total current trade and other debtors

13,191

2,553

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other creditors

 

20,230

15,254

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100