Company Registration No. 13590578 (England and Wales)
Diamond Flight Training Co Ltd
Unaudited accounts
for the year ended 31 August 2024
Diamond Flight Training Co Ltd
Unaudited accounts
Contents
Diamond Flight Training Co Ltd
Company Information
for the year ended 31 August 2024
Company Number
13590578 (England and Wales)
Registered Office
35 Crescent Road
Beckenham
Kent
BR3 6NF
England
Diamond Flight Training Co Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
1,717,315
1,753,450
Cash at bank and in hand
69,461
8,939
Creditors: amounts falling due within one year
(44,267)
(27,313)
Net current assets
52,537
29,110
Total assets less current liabilities
1,769,852
1,782,560
Creditors: amounts falling due after more than one year
(2,200,607)
(1,984,951)
Net liabilities
(430,755)
(202,391)
Called up share capital
1,000
1,000
Profit and loss account
(431,755)
(203,391)
Shareholders' funds
(430,755)
(202,391)
For the year ending 31 August 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 May 2025 and were signed on its behalf by
Igor Goikhberg
Director
Company Registration No. 13590578
Diamond Flight Training Co Ltd
Notes to the Accounts
for the year ended 31 August 2024
Diamond Flight Training Co Ltd is a private company, limited by shares, registered in England and Wales, registration number 13590578. The registered office is 35 Crescent Road, Beckenham, Kent, BR3 6NF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line method assuming the useful life of the assets is 20 years
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Direct Costs and Overheads
Direct operating costs are recognised as expenditure that is directly related to flight operations such as aircraft fuel and oil, aircraft maintenance, hangarage, landing airport fees, aircraft insurance premium, navigational charges, aircraft cleaning, landing and parking charges and all other applicable expenses.
All other expenditures that is not involved directly in the flight operations including legal and professional fees, accounting fees, advertising, travel expense and other costs are recognised as Administrative overhead costs.
Diamond Flight Training Co Ltd
Notes to the Accounts
for the year ended 31 August 2024
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Tangible fixed assets
Plant & machinery
At 1 September 2023
1,873,251
At 31 August 2024
1,930,659
At 1 September 2023
119,801
Charge for the year
93,543
At 31 August 2024
1,717,315
At 31 August 2023
1,753,450
Amounts falling due within one year
Accrued income and prepayments
22,411
39,385
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
40,088
4,398
Loans from directors
-
20,267
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
934,572
1,092,169
Loans from directors
1,266,035
150,279
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Average number of employees
During the year the average number of employees was 0 (2023: 0).