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REGISTERED NUMBER:
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Arrow Aviation Services Limited |
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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REGISTERED NUMBER:
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Arrow Aviation Services Limited |
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Unaudited Financial Statements for the Year Ended 31 January 2017 |
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Arrow Aviation Services Limited (Registered number: 02740402) |
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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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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Arrow Aviation Services Limited |
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Company Information |
for the Year Ended 31 January 2017 |
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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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ACCOUNTANTS: |
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3 Southernhay West |
Exeter |
Devon |
EX1 1JG |
Arrow Aviation Services Limited (Registered number: 02740402) |
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Statement of Financial Position |
31 January 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium | 8 |
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Capital redemption reserve | 8 |
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Retained earnings | 8 |
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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. |
Arrow Aviation Services Limited (Registered number: 02740402) |
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Statement of Financial Position - continued |
31 January 2017 |
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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
on its behalf by: |
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Arrow Aviation Services Limited (Registered number: 02740402) |
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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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Arrow Aviation Services Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and |
services to customers. |
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Tangible fixed assets |
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Property improvements | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks and work in progress |
Stock and work in progress is valued at the lower of cost and net realisable value, after due regard |
for and obsolete slow moving stocks. Net realisable value is based on selling price less anticipated |
costs to completion and selling costs. |
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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 statement of financial position 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 statement of financial position 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. |
Arrow Aviation Services Limited (Registered number: 02740402) |
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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 |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the statement of financial position 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. |
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Pensions |
The company operates a defined contribution pension scheme for one of its directors. Contributions |
are recognised in the profit and loss account in the period in which they become payable in |
accordance with the rules of the scheme. |
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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. | TANGIBLE FIXED ASSETS |
Property | Plant and | Motor | Office |
improvements | machinery | vehicles | equipment | 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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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
and accrued income |
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Directors' current accounts | - | 8,279 |
VAT |
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Prepayments and accrued income |
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Arrow Aviation Services Limited (Registered number: 02740402) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditor |
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Wages control account | - | 617 |
Directors' current accounts | 652 | - |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 334 | 334 |
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Particulars of ordinary shares: |
To attend and vote at a general meeting of the company and to participate in distributions proposed |
by the directors. |
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8. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
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At 1 February 2016 |
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665,935 |
Profit for the year |
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Dividends | ( |
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At 31 January 2017 |
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747,918 |
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Called up share capital |
Represents the nominal value of share that have been issued. |
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Profit and loss account |
Includes all current and prior period retained profits and losses. |
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Share premium |
Includes premiums received on the issue of share capital. |
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Capital redemption reserve |
Represents amounts transferred following the redemption of own shares. This is a non-distributable |
reserve. |
Arrow Aviation Services Limited (Registered number: 02740402) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2017 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 January 2017 |
and 31 January 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year |
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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 year | ( |
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10. | RELATED PARTY DISCLOSURES |
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During the year the directors received remuneration totalling £16,660. |
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During the year the directors allowed the company to use their premises. No rent has been charged |
to the company. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by RW Cutler and VA Cutler. |
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12. | FIRST YEAR ADOPTION |
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There have been no changes in accounting policies or adjustments to comparative figures as a result |
of transition to FRS 102. |
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