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AIRCRAFT COVERINGS LIMITED

Registered Number
10978424
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

AIRCRAFT COVERINGS LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

ALLEN, Alexander George

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Registered Number

10978424 (England and Wales)
AIRCRAFT COVERINGS LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,0584,861
5,0584,861
Current assets
Stocks20,50040,025
Debtors48,3066,050
Cash at bank and on hand6,8101,126
35,61647,201
Creditors amounts falling due within one year5(73,067)(75,629)
Net current assets (liabilities)(37,451)(28,428)
Total assets less current liabilities(32,393)(23,567)
Net assets(32,393)(23,567)
Capital and reserves
Called up share capital100100
Profit and loss account(32,493)(23,667)
Shareholders' funds(32,393)(23,567)
The financial statements were approved and authorised for issue by the Director on 2 June 2025, and are signed on its behalf by:
ALLEN, Alexander George
Director
Registered Company No. 10978424
AIRCRAFT COVERINGS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 October 236,833-6,833
Additions-1,7261,726
At 30 September 246,8331,7268,559
Depreciation and impairment
At 01 October 231,972-1,972
Charge for year1,1853441,529
At 30 September 243,1573443,501
Net book value
At 30 September 243,6761,3825,058
At 30 September 234,861-4,861
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,3062,946
Other debtors-3,104
Total8,3066,050
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3401,039
Bank borrowings and overdrafts-100
Amounts owed to related parties37,30641,840
Taxation and social security520-
Other creditors33,60031,350
Accrued liabilities and deferred income1,3011,300
Total73,06775,629
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.