Registration number:
Fighter Aviation Engineering Limited
for the Year Ended 30 June 2024
Fighter Aviation Engineering Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Fighter Aviation Engineering Limited
Company Information
Directors |
G F Peacock |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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Fighter Aviation Engineering Limited
(Registration number: 10258841)
Balance Sheet as at 30 June 2024
Note |
2024 |
(As restated) |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
18,000,002 |
18,000,002 |
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Retained earnings |
(5,532,760) |
(4,463,440) |
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Shareholders' funds |
12,467,242 |
13,536,562 |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Fighter Aviation Engineering Limited
(Registration number: 10258841)
Balance Sheet as at 30 June 2024
Approved and authorised by the
Director
Fighter Aviation Engineering Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is: 3 Twyford Court, High Street, Dunmow, Essex, CM6 1AE.
These financial statements were authorised for issue by the
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.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Tax
Current Tax is recognised in the profit and loss account, 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.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
Fighter Aviation Engineering Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Depreciation
Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
5% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
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.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Fighter Aviation Engineering Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Tangible assets |
Plant and Machinery |
Total |
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Cost or valuation |
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At 1 July 2023 |
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Additions |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Stocks |
2024 |
2023 |
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Finished goods and goods for resale |
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Debtors |
2024 |
2023 |
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Prepayments |
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Other debtors |
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Fighter Aviation Engineering Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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- |
Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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11,000,002 |
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11,000,002 |
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7,000,000 |
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7,000,000 |
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Transition to FRS 102 |
Balance Sheet at 1 July 2022
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Provisions for liabilities |
- |
- |
1,423,855 |
1,423,855 |
Capital and reserves |
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Retained earnings |
3,652,050 |
- |
1,423,855 |
5,075,905 |
Total equity |
3,652,050 |
- |
1,423,855 |
5,075,905 |
Fighter Aviation Engineering Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Balance Sheet at 30 June 2023
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Provisions for liabilities |
- |
- |
1,297,637 |
1,297,637 |
Capital and reserves |
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Retained earnings |
3,165,803 |
- |
1,297,637 |
4,463,440 |
Total equity |
3,165,803 |
- |
1,297,637 |
4,463,440 |