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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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AVIATION GROUND SERVICES CONSULTING LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017 |
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FOR |
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AVIATION GROUND SERVICES CONSULTING LTD |
AVIATION GROUND SERVICES CONSULTING LTD (REGISTERED NUMBER: 08182271) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 4 |
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AVIATION GROUND SERVICES CONSULTING LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Chartered Tax Advisers |
The Chambers |
13 Police Street |
Manchester |
M2 7LQ |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
AVIATION GROUND SERVICES CONSULTING LTD |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Aviation Ground Services Consulting Ltd for the year ended 31 December 2017 which comprise |
the Income Statement, Statement of Financial Position and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Aviation Ground Services Consulting Ltd in accordance with the terms of our engagement letter dated 6 December 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Aviation Ground Services Consulting Ltd and state those matters that we have agreed to state to the director of Aviation Ground Services Consulting Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aviation Ground Services Consulting Ltd and its director for our work or for this report. |
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It is your duty to ensure that Aviation Ground Services Consulting Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aviation Ground Services Consulting Ltd. You consider that Aviation Ground Services Consulting Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Aviation Ground Services Consulting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants and Chartered Tax Advisers |
The Chambers |
13 Police Street |
Manchester |
M2 7LQ |
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AVIATION GROUND SERVICES CONSULTING LTD (REGISTERED NUMBER: 08182271) |
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STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2017 |
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2017 | 2016 |
(Restated) |
Notes | € | € |
CURRENT ASSETS |
Debtors | 3 |
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CREDITORS |
Amounts falling due within one year | 4 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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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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AVIATION GROUND SERVICES CONSULTING LTD (REGISTERED NUMBER: 08182271) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Aviation Ground Services Consulting Ltd 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Change in presentation currency |
From 1 January 2017 the company has changed its presentation currency from Pound Sterling to Euros to |
match the company's functional currency. Comparative information has been restated using the procedures |
outlined below: |
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Assets and liabilities were translated into Euros at closing rates of exchange. |
Trading results were translated at average rates of exchange for the year. |
Share capital was translated at historic rates prevailing at the dates of transaction and any differences resulting |
from the translation have been taken to foreign exchange gains/ (losses) in the profit and loss account. |
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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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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. |
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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. |
AVIATION GROUND SERVICES CONSULTING LTD (REGISTERED NUMBER: 08182271) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
(Restated) |
€ | € |
Other debtors |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
(Restated) |
€ | € |
Other creditors |
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5. | 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 | 1,000 | 1,000 |
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6. | GOING CONCERN |
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At 31 December 2017, the company had net current liabilities of €7,134 (2016 - €6,000). Included in creditors |
amounts falling due within one year is a loan due to the director of €6,441 (2016 - €4,371). |
The director has confirmed to the company that it is not his present intention to demand repayment of the loan. |
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The loan is interest free and is repayable on demand. |