Company No:
Contents
DIRECTOR | Warren Henry Crook |
REGISTERED OFFICE | Leeward House Fitzroy Road |
Exeter Business Park | |
Exeter | |
EX1 3LJ | |
United Kingdom |
COMPANY NUMBER | 14255972 (England and Wales) |
ACCOUNTANT | Old Mill Accountancy Limited |
Leeward House | |
Fitzroy Road | |
Exeter Business Park | |
Exeter | |
Devon | |
EX1 3LJ |
Note | 31.07.2024 | 31.07.2023 | ||
£ | £ | |||
Current assets | ||||
Debtors | 3 |
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Cash at bank and in hand |
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20,687 | 49,015 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current assets | 2,891 | 100 | ||
Total assets less current liabilities | 2,891 | 100 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Complete Engine Services Limited (registered number:
Warren Henry Crook
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Complete Engine Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leeward House Fitzroy Road, Exeter Business Park, Exeter, EX1 3LJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Company is supported through management charges from companies under common ownership. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
These financial statements cover a 12 month period, whereas the reporting period length of the comparative period in these financial statements was just over 12 months. The company incorporated on 26 July 2022 and therefore the comparative period covers the period 26 July 2022 to 31 July 2023. The company commenced trading on 1 February 2023 so there was only six months of trade included in the comparatives. The results are, therefore, not entirely comparable.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer, the amount of revenue can be measured reliably, it is probably that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be reliably estimated, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Year ended 31.07.2024 |
Period from 26.07.2022 to 31.07.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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31.07.2024 | 31.07.2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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31.07.2024 | 31.07.2023 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Taxation and social security |
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Other related party transactions
31.07.2024 | 31.07.2023 | ||
£ | £ | ||
Aerocare Aviation Services Limited- creditor | (8,650) | (42,694) |
During the period, and during the comparative period, some income and expenditure was recharged to Aerocare Aviation Services Limited, a connected company under common control. The work undertaken to satisfy the contracts recognised as income in this company was completed by Aerocare Aviation Services Limited and the costs relating to the delivery of the contracts (such as materials and staffing) were also incurred by Aerocare Aviation Services Limited.
The director has concluded, therefore, that some income and expenditure in this company should be recharged to Aerocare Aviation Services Limited in this period.