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Abbreviated Unaudited Accounts for the Year Ended 31 August 2016 |
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365 Aerospace Ltd |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts for the Year Ended 31 August 2016 |
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for |
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365 Aerospace Ltd |
365 Aerospace Ltd (Registered number: 09000565) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 August 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
365 Aerospace Ltd |
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Company Information |
for the Year Ended 31 August 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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365 Aerospace Ltd (Registered number: 09000565) |
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Abbreviated Balance Sheet |
31 August 2016 |
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31.8.16 | 31.8.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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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/(LIABILITIES) |
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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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PROVISIONS FOR LIABILITIES | ( |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | ( |
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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. |
365 Aerospace Ltd (Registered number: 09000565) |
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Abbreviated Balance Sheet - continued |
31 August 2016 |
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The financial statements were approved by the Board of Directors on
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365 Aerospace Ltd (Registered number: 09000565) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 August 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Intellectual property |
In 2015 the company acquired the intellectual property of a business.The cost is being amortised evenly over its |
estimated useful life of 10 years. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks 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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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to the profit and loss account in the period to which they relate. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
Additions |
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At 31 August 2016 |
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AMORTISATION |
Amortisation for year |
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At 31 August 2016 |
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NET BOOK VALUE |
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At 31 August 2016 |
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365 Aerospace Ltd (Registered number: 09000565) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 August 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 September 2015 |
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Additions |
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At 31 August 2016 |
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DEPRECIATION |
At 1 September 2015 |
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Charge for year |
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At 31 August 2016 |
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NET BOOK VALUE |
At 31 August 2016 |
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At 31 August 2015 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.16 | 31.8.15 |
value: | £ | £ |
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Ordinary | £1 |
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B Ordinary | 1p |
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101 | 100 |
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The following shares were issued during the year for cash at par : |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 31 August 2016 and the period |
ended 31 August 2015: |
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31.8.16 | 31.8.15 |
£ | £ |
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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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Balance outstanding at end of year | ( |
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6. | ULTIMATE CONTROLLING PARTY |
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The controlling party is
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365 Aerospace Ltd (Registered number: 09000565) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 August 2016 |
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7. | GOING CONCERN |
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These financial statements have been prepared on a going concern basis. The company is dependent on the |
support of the creditors.The directors has confirmed that they will support the company and therefore the going |
concern basis is believed to be appropriate. The financial statements do not include any adjustments that might |
be necessary if support were withdrawn. |