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Financial Statements for the Year Ended 30 November 2019 |
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Flight Calibration Services Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 30 November 2019 |
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for |
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Flight Calibration Services Limited |
Flight Calibration Services Limited (Registered number: 05524571) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Flight Calibration Services Limited |
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Company Information |
for the Year Ended 30 November 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
PO Box 4991 |
Maidenhead |
Berkshire |
SL60 1NN |
Flight Calibration Services Limited (Registered number: 05524571) |
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Balance Sheet |
30 November 2019 |
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30.11.19 | 30.11.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Flight Calibration Services Limited (Registered number: 05524571) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2019 |
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1. | STATUTORY INFORMATION |
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Flight Calibration Services Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared according to the going concern basis on the grounds that the Company will be able to pay its debts as they become due for a period of not less than 12 months from the issuing of these financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is only recognised in respect of timing differences that have originated but not reversed at the balance sheet date if they are likely to reverse within the foreseeable future. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Flight Calibration Services Limited (Registered number: 05524571) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2018 |
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Additions |
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Disposals | ( |
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At 30 November 2019 |
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DEPRECIATION |
At 1 December 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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5. | FIXED ASSET INVESTMENTS |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: Calibration House 17-19 Cecil Pashley Way, Shoreham Airport, West Sussex, BN43 5FF |
Nature of business:
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Class of shares: | holding |
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30.11.19 | 30.11.18 |
£ | £ |
Aggregate capital and reserves | ( |
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Loss for the year | ( |
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6. | DEBTORS |
30.11.19 | 30.11.18 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Aggregate amounts |
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Flight Calibration Services Limited (Registered number: 05524571) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.19 | 30.11.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.11.19 | 30.11.18 |
£ | £ |
Hire purchase contracts |
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Amounts owed to associates | 384,232 | 751,667 |
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9. | FINANCIAL INSTRUMENTS |
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As at 30th November 2019 the Company had outstanding import guarantees and standby credits of £227,837 (2018 - £141,465). Against these, the bank held deposits of £119,352 (2018 - £33,778). |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.19 | 30.11.18 |
value: | £ | £ |
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Ordinary | 0.000 | 1 | 1 | 1 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 December 2018 |
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Restatement of depreciation for previous
years |
(12,203 |
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At 30 November 2019 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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Flight Calibration Services Limited (Registered number: 05524571) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2019 |
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13. | RELATED PARTY DISCLOSURES |
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Included within "Debtors" was an amount of £354,591 (2018 - £150,641) due to the company by its wholly owned subsidiary FCSL Engineering Limited. The debt was interest free and not due for settlement within the next 12 months. |
That company provided repair and maintenance services totalling £334,749 (2018 - £55,846). |
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Included within "Other Creditors falling due after more than one year" were amounts due to/by associated companies as follows: |
Avionic Services International Limited £132,986 (2018 - £124,076) due to the company |
PCR (UK) Limited £521,530 (2018 - £627,152) due by the company |
Culross Aerospace Limited £4,311 (2018 - £439) due to the company |
The balances were interest free and not due for settlement within the next 12 months. |
The companies were considered to be associated by virtue of common control. |
In addition, these companies incurred expenses which were allocated to Flight Calibration Services Limited. |
In the year to 30th November 2019 the amounts were: |
Payroll and associated costs £1,614,047 (2018 - £1,443,743) |
Other costs £118,579 (2018 - £35,423) |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Albatross Bidco Limited. |
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The ultimate controlling party is
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The entire issued share capital of Flight Claibration Services Limited was acquired by Albatross Bidco Limited on 28th February 2020. On that date Literacy Capital plc became the ultimate holding company. |