Company Registration No. 09663791 (England and Wales)
AEROSPACE CAPABILITY PROJECT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2016
AEROSPACE CAPABILITY PROJECT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AEROSPACE CAPABILITY PROJECT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
1,313
Current assets
Debtors
2,138
Cash at bank and in hand
2,384
4,522
Creditors: amounts falling due within one year
(11,229)
Net current liabilities
(6,707)
Total assets less current liabilities
(5,394)
Capital and reserves
Called up share capital
3
300
Profit and loss account
(5,694)
Shareholders' funds
(5,394)
For the financial period ended 30 June 2016 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 period 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.
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 27 February 2017
S Boyce
J F McFall
Director
Director
Company Registration No. 09663791
AEROSPACE CAPABILITY PROJECT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 JUNE 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).
Although the company is technically insolvent, it is able to continue to trade on the basis that the directors have made loans to the company which will only be repaid out of future trading profits. The balance of the loans at 30 June 2016 amounted to £7,200.
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 receivable for goods and services net of VAT and trade discounts.
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:
Computer equipment
20% straight line
Fixtures, fittings and equipment
15% reducing balance
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
AEROSPACE CAPABILITY PROJECT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 30 June 2015
-
Additions
1,603
At 30 June 2016
1,603
Depreciation
At 30 June 2015
-
Charge for the period
290
At 30 June 2016
290
Net book value
At 30 June 2016
1,313
3
Share capital
2016
£
Allotted, called up and fully paid
300 Ordinary shares of £1 each
300
During the
period
300
ordinary shares of £
1
each were allotted and fully paid at par for cash consideration.