Company Registration No. 09822591 (England and Wales)
Aviation Systems Group Ltd
Unaudited accounts
for the year ended 31 March 2023
Aviation Systems Group Ltd
Unaudited accounts
Contents
Aviation Systems Group Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
12,207
8,513
Cash at bank and in hand
296,942
299,952
Creditors: amounts falling due within one year
(404,414)
(393,140)
Net current assets
265,253
268,440
Total assets less current liabilities
277,510
277,003
Creditors: amounts falling due after more than one year
(34,243)
(39,293)
Net assets
243,267
237,710
Called up share capital
24,008
24,008
Profit and loss account
219,259
213,702
Shareholders' funds
243,267
237,710
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2023 and were signed on its behalf by
A Geal
Director
Company Registration No. 09822591
Aviation Systems Group Ltd
Notes to the Accounts
for the year ended 31 March 2023
Aviation Systems Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 09822591. The registered office is 2 Bailey Hill, Castle Cary, Somerset, BA7 7AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in Sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Computer equipment
33% straight line
Investments in shares are included at fair value.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Aviation Systems Group Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
20,517
15,886
36,403
Additions
7,407
3,876
11,283
At 31 March 2023
27,924
19,762
47,686
At 1 April 2022
17,522
10,368
27,890
Charge for the year
4,183
3,406
7,589
At 31 March 2023
21,705
13,774
35,479
At 31 March 2023
6,219
5,988
12,207
At 31 March 2022
2,995
5,518
8,513
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Investments
Other investments
Valuation at 1 April 2022
50
Valuation at 31 March 2023
50
Amounts falling due within one year
Trade debtors
365,337
312,747
Accrued income and prepayments
3,726
3,262
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,556
5,556
Trade creditors
292,238
236,072
Taxes and social security
55,632
80,019
Aviation Systems Group Ltd
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
12,020
17,071
9
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
1,245
10
Average number of employees
During the year the average number of employees was 6 (2022: 4).