Company Registration No. 02795671 (England and Wales)
SUSSEX FLYING CLUB LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
SUSSEX FLYING CLUB LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
SUSSEX FLYING CLUB LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
15,246
17,110
Current assets
Stocks
9,188
6,520
Debtors
429
237
Cash at bank and in hand
10,278
12,081
19,895
18,838
Creditors: amounts falling due within one year
(116,384)
(125,043)
Net current liabilities
(96,489)
(106,205)
Total assets less current liabilities
(81,243)
(89,095)
Creditors: amounts falling due after more than one year
(1,350)
(23)
(82,593)
(89,118)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(82,693)
(89,218)
Shareholders' funds
(82,593)
(89,118)
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 January 2017
Mr JE Crabbe
Director
Company Registration No. 02795671
SUSSEX FLYING CLUB LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale services to customers.
customers.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Aircraft
10% reducing balance
Office equipment
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015 & at 30 April 2016
40,785
Depreciation
At 1 May 2015
23,675
Charge for the year
1,864
At 30 April 2016
25,539
Net book value
At 30 April 2016
15,246
At 30 April 2015
17,110
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100
SUSSEX FLYING CLUB LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
4
Ultimate parent company
The company is controlled by the director who owns 100% of the called up share capital.