Registered number
08647404
A C K Aviation Limited
Filleted Accounts
31 August 2024
A C K Aviation Limited
Registered number: 08647404
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,987 11,701
Current assets
Stocks 14,119 16,309
Debtors 4 383,516 427,680
Cash at bank and in hand 369,895 635,518
767,530 1,079,507
Creditors: amounts falling due within one year 5 (654,541) (562,857)
Net current assets 112,989 516,650
Net assets 138,976 528,351
Capital and reserves
Called up share capital 50 50
Profit and loss account 138,926 528,301
Shareholders' funds 138,976 528,351
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Weller
Director
Approved by the board on 20 February 2025
A C K Aviation Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 4 year straight line
Motor Vehicles 5 year reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 14
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 61,205 11,325 72,530
Additions 22,485 - 22,485
At 31 August 2024 83,690 11,325 95,015
Depreciation
At 1 September 2023 50,591 10,238 60,829
Charge for the year 7,927 272 8,199
At 31 August 2024 58,518 10,510 69,028
Net book value
At 31 August 2024 25,172 815 25,987
At 31 August 2023 10,614 1,087 11,701
4 Debtors 2024 2023
£ £
Trade debtors 353,545 397,629
Other debtors 29,971 30,051
383,516 427,680
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 116,763 71,255
Directors Loan account 3,280 3,280
Taxation and social security costs 399,449 376,991
Other creditors 135,049 111,331
654,541 562,857
6 Other information
A C K Aviation Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 48 Rowfant Business Centre
Wallage Lane
Crawley
RH10 4NQ
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