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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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Airsource1(Highland) Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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for |
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Airsource1(Highland) Limited |
Airsource1(Highland) Limited (Registered number: SC482391) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2017 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Airsource1(Highland) Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Main Street |
Golspie |
Sutherland |
KW10 6RH |
Airsource1(Highland) Limited (Registered number: SC482391) |
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Abridged Balance Sheet |
31 January 2017 |
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31.1.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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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 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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Airsource1(Highland) Limited (Registered number: SC482391) |
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Abridged Balance Sheet - continued |
31 January 2017 |
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31.1.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
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 Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Airsource1(Highland) Limited (Registered number: SC482391) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2017 |
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1. | STATUTORY INFORMATION |
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Airsource1(Highland) Limited is a
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Scotland. The 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 |
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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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are |
measured at cost less any accumulated amortisation and any accumulated impairment |
losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks and work in progress 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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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and |
handling costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the year 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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Airsource1(Highland) Limited (Registered number: SC482391) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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2. | ACCOUNTING POLICIES - continued |
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 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the |
balance sheet. Those held under hire purchase contracts are depreciated over their |
estimated useful lives. Those held under finance leases are depreciated over their |
estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. |
The capital element of the future payments is treated as a liability. |
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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
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2016 |
and 31 January 2017 |
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AMORTISATION |
At 1 February 2016 |
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Amortisation for year |
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At 31 January 2017 |
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NET BOOK VALUE |
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At 31 January 2017 |
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At 31 January 2016 |
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Airsource1(Highland) Limited (Registered number: SC482391) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 February 2016 |
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Additions |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as |
follows: |
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Totals |
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COST |
At 1 February 2016 |
and 31 January 2017 | 38,500 |
DEPRECIATION |
At 1 February 2016 | 9,625 |
Charge for year | 7,218 |
At 31 January 2017 | 16,843 |
NET BOOK VALUE |
At 31 January 2017 | 21,657 |
At 31 January 2016 | 28,875 |
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6. | ULTIMATE CONTROLLING PARTY |
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The controlling party is S P Hogg. |