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COMPANY REGISTRATION NUMBER: 06388487
Armstrong Aviation Clothing Limited
Filleted Unaudited Financial Statements
31 January 2025
Armstrong Aviation Clothing Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
5,978
256,784
Current assets
Stocks
350,780
331,969
Debtors
6
100,125
77,933
Cash at bank and in hand
233,689
312,155
---------
---------
684,594
722,057
Creditors: amounts falling due within one year
7
43,439
104,009
---------
---------
Net current assets
641,155
618,048
---------
---------
Total assets less current liabilities
647,133
874,832
Provisions
1,495
7,946
---------
---------
Net assets
645,638
866,886
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
644,638
865,886
---------
---------
Shareholders funds
645,638
866,886
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Armstrong Aviation Clothing Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 16 April 2025 , and are signed on behalf of the board by:
Mr N Wright
Director
Company registration number: 06388487
Armstrong Aviation Clothing Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
over 50 years
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2024: 9 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
274,344
43,910
40,853
359,107
Disposals
( 274,344)
( 274,344)
---------
--------
--------
---------
At 31 January 2025
43,910
40,853
84,763
---------
--------
--------
---------
Depreciation
At 1 February 2024
26,275
35,195
40,853
102,323
Charge for the year
2,737
2,737
Disposals
( 26,275)
( 26,275)
---------
--------
--------
---------
At 31 January 2025
37,932
40,853
78,785
---------
--------
--------
---------
Carrying amount
At 31 January 2025
5,978
5,978
---------
--------
--------
---------
At 31 January 2024
248,069
8,715
256,784
---------
--------
--------
---------
6. Debtors
2025
2024
£
£
Trade debtors
41,388
72,833
Amounts owed by group undertakings and undertakings in which the company has a participating interest
960
Other debtors
58,737
4,140
---------
--------
100,125
77,933
---------
--------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,611
4,785
Corporation tax
26,106
79,622
Social security and other taxes
3,891
9,905
Other creditors
8,831
9,697
--------
---------
43,439
104,009
--------
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms C F Armstrong
50,000
50,000
----
--------
--------
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Ms C F Armstrong
----
----
----
9. Controlling party
On 12th September 2023, Armstrong Aviation (Holdings) Limited acquired the entire issued share capital of the company on a share for share basis. Armstrong Aviation (Holdings) Limited is a company incorporated in England & Wales and its registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.