Company Registration No. 08274752 (England and Wales)
COLEMAN AVIATION LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2014
COLEMAN AVIATION LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
COLEMAN AVIATION LTD
CERTIFIED PRACTISING ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLEMAN AVIATION LTD FOR THE YEAR ENDED 31 OCTOBER 2014
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
You consider that the company is exempt from an audit for the year ended 31 October 2014. You have acknowledged, on the balance sheet, your responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the company and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared these accounts on pages 3 to 8 from the accounting records of the company and on the basis of information and explanations you have given us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Shorthouse & Martin Limited
31 July 2015
Certified Practising Accountants
62-64 New Road
Basingstoke
Hampshire
RG21 7PW
COLEMAN AVIATION LTD
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2014
31 October 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,201
1,201
Current assets
Debtors
7,110
1,710
Cash at bank and in hand
5,995
15,921
13,105
17,631
Creditors: amounts falling due within one year
(24,878)
(11,412)
Net current (liabilities)/assets
(11,773)
6,219
Total assets less current liabilities
5,428
7,420
Provisions for liabilities
(3,225)
-
2,203
7,420
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
2,103
7,320
Shareholders' funds
2,203
7,420
For the financial year ended 31 October 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 July 2015
Mr M G Coleman
Director
Company Registration No. 08274752
COLEMAN AVIATION LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% on cost
Fixtures, fittings & equipment
25% on cost
Motor vehicles
25% on cost
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2013
1,600
Additions
16,400
At 31 October 2014
18,000
Depreciation
At 1 November 2013
399
Charge for the year
400
At 31 October 2014
799
Net book value
At 31 October 2014
17,201
At 31 October 2013
1,201
COLEMAN AVIATION LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2014
- 4 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
80 Ordinary A of £1 each
80
80
10 Ordinary B of £1 each
10
10
5 Ordinary C of £1 each
5
5
5 Ordinary D of £1 each
5
5
100
100