REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
Wessex Aviation Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
Wessex Aviation Limited |
Wessex Aviation Limited (Registered number: 09021717) |
Contents of the Financial Statements |
for the Year Ended 31st May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Wessex Aviation Limited |
Company Information |
for the Year Ended 31st May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Wessex Aviation Limited (Registered number: 09021717) |
Balance Sheet |
31st May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Wessex Aviation Limited (Registered number: 09021717) |
Notes to the Financial Statements |
for the Year Ended 31st May 2024 |
1. | STATUTORY INFORMATION |
Wessex Aviation Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair valve 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 services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. |
Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
Rendering of services |
Turnover form 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 the work performed to date to the total etiolate contract costs. Turnover is only recogonised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks and work in progress |
Stocks and work in progress are valued at the lower of costs and net realisable value after making due allowance for obsolete and slow-slowing stocks. Cost includes all direct costs and an appropriate proportion of fixed and variance overheads. Work-in-progress is rejected in the accounts on a contact by contract basis by recording turnover and related costs as contract activity progresses. |
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. |
Wessex Aviation Limited (Registered number: 09021717) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st June 2023 |
Additions |
At 31st May 2024 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is D Brem-Wilson. |