WING ENGINEERING LIMITED

Company Registration Number:
SC399072 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

WING ENGINEERING LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

WING ENGINEERING LIMITED

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

The principal activity of the company is to provide professional aircraft maintenance engineering training and consultancy.



Directors

The director shown below has held office during the whole of the period from
1 September 2023 to 31 August 2024

Mr D O Olufisan


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
25 February 2025

And signed on behalf of the board by:
Name: Mr D O Olufisan
Status: Director

WING ENGINEERING LIMITED

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 150,000 150,000
Tangible assets: 4 0 80
Investments:   0 0
Total fixed assets: 150,000 150,080
Current assets
Stocks:   0 0
Debtors: 5 41,991 64,644
Cash at bank and in hand: 5,859 4,356
Investments:   0 0
Total current assets: 47,850 69,000
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 18,272 ) ( 12,657 )
Net current assets (liabilities): 29,578 56,343
Total assets less current liabilities: 179,578 206,423
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 179,578 206,423
Capital and reserves
Called up share capital: 20,000 20,000
Share premium account: 0 0
Other reserves: 150,000 150,000
Profit and loss account: 9,578 36,423
Total Shareholders' funds: 179,578 206,423

The notes form part of these financial statements

WING ENGINEERING LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 25 February 2025
and signed on behalf of the board by:

Name: Mr D O Olufisan
Status: Director

The notes form part of these financial statements

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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 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.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position 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. Office Equipment 33% straight line

    Intangible fixed assets amortisation policy

    Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost.

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 September 2023 0 150,000 150,000
Additions 0 0 0
Disposals 0 0 0
Revaluations 0 0 0
Transfers 0 0 0
At 31 August 2024 0 150,000 150,000
Amortisation
At 1 September 2023 0 0 0
Charge for year 0 0 0
On disposals 0 0 0
Other adjustments 0 0 0
At 31 August 2024 0 0 0
Net book value
At 31 August 2024 0 150,000 150,000
At 31 August 2023 0 150,000 150,000

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 0 0 0 1,479 0 1,479
Additions 0 0 0 0 0 0
Disposals 0 0 0 0 0 0
Revaluations 0 0 0 0 0 0
Transfers 0 0 0 0 0 0
At 31 August 2024 0 0 0 1,479 0 1,479
Depreciation
At 1 September 2023 0 0 0 1,399 0 1,399
Charge for year 0 0 0 80 0 80
On disposals 0 0 0 0 0 0
Other adjustments 0 0 0 0 0 0
At 31 August 2024 0 0 0 1,479 0 1,479
Net book value
At 31 August 2024 0 0 0 0 0 0
At 31 August 2023 0 0 0 80 0 80

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Debtors

2024 2023
£ £
Trade debtors 0 1,620
Prepayments and accrued income 0 0
Other debtors 41,991 63,024
Total 41,991 64,644
Debtors due after more than one year: 0 0

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 584 584
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 5,908 4,939
Accruals and deferred income 1,300 1,300
Other creditors 10,480 5,834
Total 18,272 12,657

WING ENGINEERING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2024

7. Financial Commitments

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.