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REGISTERED NUMBER: 13127132 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SEMET AVIATION LIMITED

SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEMET AVIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J B S Lees
Miss A C Mcgrady
N J Shaw





REGISTERED OFFICE: Hartfordbridge Building
Blackbushe Airport
Camberley
GU17 9LB





REGISTERED NUMBER: 13127132 (England and Wales)





ACCOUNTANTS: L E Marshall & Co
Chartered Accountants
Unit B1F
Fairoaks Airport
Chobham
Surrey
GU24 8HU

SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,424 33,453

CURRENT ASSETS
Stocks 7,541 1,128
Debtors 5 65,318 12,093
Cash at bank and in hand 37,853 22,270
110,712 35,491
CREDITORS
Amounts falling due within one year 6 173,553 102,863
NET CURRENT LIABILITIES (62,841 ) (67,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,417

)

(33,919

)

CREDITORS
Amounts falling due after more than one
year

7

(9,783

)

(34,968

)

PROVISIONS FOR LIABILITIES (6,541 ) (6,356 )
NET LIABILITIES (44,741 ) (75,243 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (44,744 ) (75,246 )
(44,741 ) (75,243 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)

BALANCE SHEET - continued
31 JANUARY 2024


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 Board of Directors and authorised for issue on 27 October 2024 and were signed on its behalf by:





J B S Lees - Director


SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Semet Aviation 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Computer equipment - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 6 (2023 - 1 ) .

SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023 36,244 2,509 38,753
Additions 1,624 4,563 6,187
Disposals - (458 ) (458 )
At 31 January 2024 37,868 6,614 44,482
DEPRECIATION
At 1 February 2023 4,709 591 5,300
Charge for year 3,913 914 4,827
Eliminated on disposal - (69 ) (69 )
At 31 January 2024 8,622 1,436 10,058
NET BOOK VALUE
At 31 January 2024 29,246 5,178 34,424
At 31 January 2023 31,535 1,918 33,453

5. DEBTORS
31.1.24 31.1.23
£    £   
Amounts falling due within one year:
Trade debtors 33,051 5,330
Amounts owed by associates 24,956 -
Other debtors 6,311 6,763
64,318 12,093

Amounts falling due after more than one year:
Other debtors 1,000 -

Aggregate amounts 65,318 12,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 6,904 5,515
Trade creditors 148,723 90,520
Taxation and social security 5,598 539
Other creditors 12,328 6,289
173,553 102,863

SEMET AVIATION LIMITED (REGISTERED NUMBER: 13127132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 5,109 12,013
Other creditors 4,674 22,955
9,783 34,968

8. RELATED PARTY DISCLOSURES

The directors have undertaken to support the company financially for the foreseeable future.