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REGISTERED NUMBER:
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LONDON HELI-CHARTERS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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REGISTERED NUMBER:
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LONDON HELI-CHARTERS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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LONDON HELI-CHARTERS LIMITED (REGISTERED NUMBER: 05775479) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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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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Chartered Accountants' Report | 5 |
LONDON HELI-CHARTERS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Tax Advisors |
4th & 5th Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
LONDON HELI-CHARTERS LIMITED (REGISTERED NUMBER: 05775479) |
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BALANCE SHEET |
30 SEPTEMBER 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered. |
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The financial statements were approved by the director on
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LONDON HELI-CHARTERS LIMITED (REGISTERED NUMBER: 05775479) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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London Heli-charters Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
Going concern |
The company meets its day-to-day working capital requirements through its bank facility and support from the |
company's shareholder(s). After making enquiries, the director has a reasonable expectation that the company |
has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months |
from signing the financial statements. The company therefore continues to adopt the going concern basis in |
preparing its financial statements. |
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Turnover |
Turnover comprises revenue recognised by the company in respect of services supplied. Services represent the |
supply of aviation pilots and yachts for charter.Turnover is measured as the fair value of the consideration |
received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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The following criteria must also be met before revenue is recognised: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated |
impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the |
location and condition necessary for it to be capable of operating in the manner intended by management. |
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The carrying amounts of the company's assets are reviewed at each reporting date to determine whether there is |
an indication of impairment. An impairment is recognised whenever the carrying amount of an asset exceeds its |
recoverable amount. Impairment losses are recognised in the profit and loss account. |
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Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised |
as other comprehensive income or to an item recognised directly in equity is also recognised in other |
comprehensive income or directly in equity respectively. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the balance sheet date, except that: |
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the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and |
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any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Foreign currencies |
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 rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
LONDON HELI-CHARTERS LIMITED (REGISTERED NUMBER: 05775479) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2018 |
and 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.19 | 30.9.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | RELATED PARTY DISCLOSURES |
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During the reporting period, the company provided services to the director in the amount of £17,500 (2018: |
£5,000); services are provided on a market basis. At the reporting date, the balance due to the company director |
was £261,574 (2018: £550,272). The balance is unsecured, attracts no interest, has no fixed terms of repayment |
and considered repayable on demand. |
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8. | ULTIMATE CONTROLLING PARTY |
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At the reporting date, the company director and shareholder, Mr M V Rijkse, is the single ultimate controlling |
party. There has been no change between the reporting date and date of approval of the financial statements. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LONDON HELI-CHARTERS LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of London Heli-charters Limited for the year ended 30 September 2019 which comprise the Profit |
and Loss account, Balance Sheet and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of London Heli-charters Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London Heli-charters Limited and state those matters that we have agreed to state to the director of London Heli-charters Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London Heli-charters Limited and its director for our work or for this report. |
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It is your duty to ensure that London Heli-charters Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of London Heli-charters Limited. You consider that London Heli-charters Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of London Heli-charters Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants and Tax Advisors |
4th & 5th Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
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