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Unaudited Financial Statements |
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for the Period 25 May 2017 to 31 December 2017 |
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Aerospace Reliance Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 25 May 2017 to 31 December 2017 |
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for |
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Aerospace Reliance Limited |
Aerospace Reliance Limited (Registered number: 10788741) |
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Contents of the Financial Statements |
for the Period 25 May 2017 to 31 December 2017 |
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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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Aerospace Reliance Limited |
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Company Information |
for the Period 25 May 2017 to 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1st Floor |
Axiom House |
Spring Villa Park |
Edgware |
HA8 7EB |
Aerospace Reliance Limited (Registered number: 10788741) |
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Balance Sheet |
31 December 2017 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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PROVISIONS FOR LIABILITIES | 8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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 Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Aerospace Reliance Limited (Registered number: 10788741) |
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Notes to the Financial Statements |
for the Period 25 May 2017 to 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Aerospace Reliance 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 |
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Turnover and principal activity |
Turnover represents amounts receivable for the sale of aerospace parts, net of value added tax. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the period comprises current and deferred 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 or deferred 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 recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 period 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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Going concern policy |
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. The company |
has therefore adopted the going concern basis in the preparing of its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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Aerospace Reliance Limited (Registered number: 10788741) |
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Notes to the Financial Statements - continued |
for the Period 25 May 2017 to 31 December 2017 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
Additions |
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At 31 December 2017 |
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DEPRECIATION |
Charge for period |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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5. | STOCKS |
£ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Other debtors |
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Directors' current accounts | 20,229 |
VAT |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
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Social security and other taxes | ( |
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Strexor Ltd T/A Smoke Purer |
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Other creditors | 39,475 |
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8. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 419 |
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Deferred |
tax |
£ |
Provided during period |
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Balance at 31 December 2017 |
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Aerospace Reliance Limited (Registered number: 10788741) |
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Notes to the Financial Statements - continued |
for the Period 25 May 2017 to 31 December 2017 |
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9. | RESERVES |
Retained |
earnings |
£ |
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Deficit for the period | ( |
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At 31 December 2017 | ( |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the period ended 31 December 2017: |
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£ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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11. | RELATED PARTY DISCLOSURES |
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The balance shown as directors' current accounts under debtors of £20,229 is owed by the directors to the |
company. The debt has no fixed date for repayment, is repayable on demand and is non-interest bearing. |
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The balance shown as Strexor Ltd T/A Smoke Purer under creditors of £62,299 is owed to a company which is |
under common control. The debt has no fixed date for repayment, is repayable on demand and is non-interest |
bearing. |