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Company registration number: 09090373







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


EUROPLANE SALES LIMITED






































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EUROPLANE SALES LIMITED
 


 
COMPANY INFORMATION


Director
A Freeman 




Registered number
09090373



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

TW18 4BP




Trading Address
1 Fitzgerald Park

Binfield

Berkshire

RG42 4FN






Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


EUROPLANE SALES LIMITED
 



CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6


 


EUROPLANE SALES LIMITED
REGISTERED NUMBER:09090373



BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
42,067
47,869

  
42,067
47,869

Current assets
  

Stocks
  
142,500
350,000

Debtors: amounts falling due within one year
 5 
210,656
19,322

Cash at bank and in hand
  
120,800
243,758

  
473,956
613,080

Creditors: amounts falling due within one year
 6 
(71,652)
(182,319)

Net current assets
  
 
 
402,304
 
 
430,761

Total assets less current liabilities
  
444,371
478,630

Creditors: amounts falling due after more than one year
 7 
-
(50,000)

Provisions for liabilities
  

Deferred tax
  
(6,405)
(6,405)

  
 
 
(6,405)
 
 
(6,405)

Net assets
  
437,966
422,225


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
437,865
422,124

  
437,966
422,225


Page 1

 


EUROPLANE SALES LIMITED
REGISTERED NUMBER:09090373


    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


A Freeman
Director
Date: 26 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


EUROPLANE SALES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Europlane Sales Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.  
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is generated through aviation sales and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property
-
15 years
Plant and machinery
-
25% Reducing balance
Fixtures and fittings
-
10% Straight line
Computer equipment
-
20% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 


EUROPLANE SALES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 


EUROPLANE SALES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
25,559
7,000
52,563
6,311
91,433


Additions
-
-
2,288
582
2,870



At 30 June 2024

25,559
7,000
54,851
6,893
94,303



Depreciation


At 1 July 2023
6,221
292
33,101
3,950
43,564


Charge for the year on owned assets
1,704
1,677
4,409
882
8,672



At 30 June 2024

7,925
1,969
37,510
4,832
52,236



Net book value



At 30 June 2024
17,634
5,031
17,341
2,061
42,067



At 30 June 2023
19,338
6,708
19,462
2,361
47,869


5.


Debtors

2024
2023
£
£


Trade debtors
5,000
12,000

Other debtors
201,897
3,530

Prepayments and accrued income
3,759
3,792

210,656
19,322


Page 5

 


EUROPLANE SALES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
19,231
(2,579)

Corporation tax
21,749
30,042

Other creditors
22,372
146,356

Accruals and deferred income
8,300
8,500

71,652
182,319



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
-
50,000

-
50,000


Lloyds Bank has a fixed and floating charge dated 02 November 2017 secured over all the property or undertakings of the company and contains a negative pledge.


8.


Related party transactions

Included within other debtors at the year-end is an amount owed from the director of £196,897 (2023 - £124,984 owed to the director). This loan is considered interest-free and was repaid on 5 July 2024.


2024
2023
£
£

Balance outstanding at the start of year
(124,984)
(147,049)
Amounts advanced
691,501
661,662
Amounts repaid
(369,620)
(639,597)
196,897
(124,984)

 
Page 6