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REGISTERED NUMBER: 09021717 (England and Wales)















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: D Brem-Wilson





REGISTERED OFFICE: Building 706 Churchill Way
Biggin Hill
Westerham
TN16 3BN





REGISTERED NUMBER: 09021717 (England and Wales)






Wessex Aviation Limited (Registered number: 09021717)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,292 39,555

CURRENT ASSETS
Stocks 410,000 410,000
Debtors 5 26,642 27,047
Cash at bank - 1,378
436,642 438,425
CREDITORS
Amounts falling due within one year 6 617,682 542,942
NET CURRENT LIABILITIES (181,040 ) (104,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(150,748

)

(64,962

)

CREDITORS
Amounts falling due after more than one
year

7

194,620

199,017
NET LIABILITIES (345,368 ) (263,979 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (345,468 ) (264,079 )
(345,368 ) (263,979 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st April 2025 and were signed by:





D Brem-Wilson - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 - 2 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2023 62,541 31,696 6,584 100,821
Additions 837 - - 837
At 31st May 2024 63,378 31,696 6,584 101,658
DEPRECIATION
At 1st June 2023 41,685 15,456 4,125 61,266
Charge for year 5,425 4,060 615 10,100
At 31st May 2024 47,110 19,516 4,740 71,366
NET BOOK VALUE
At 31st May 2024 16,268 12,180 1,844 30,292
At 31st May 2023 20,856 16,240 2,459 39,555

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 26,642 27,047

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,006 35,074
Other creditors 580,676 507,868
617,682 542,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Trade creditors 143,078 147,150
Taxation and social security 126 126
Other creditors 51,416 51,741
194,620 199,017

8. ULTIMATE CONTROLLING PARTY

The controlling party is D Brem-Wilson.