Aerborn Aburnet Limited 08829671 false 2016-01-01 2016-12-31 2016-12-31 The principal activity of the company is is the retail of hair containment products Digita Accounts Production Advanced 6.18.8247.0 Software true 08829671 2016-01-01 2016-12-31 08829671 2016-12-31 08829671 core:RetainedEarningsAccumulatedLosses 2016-12-31 08829671 core:ShareCapital 2016-12-31 08829671 core:CurrentFinancialInstruments core:WithinOneYear 2016-12-31 08829671 bus:SmallEntities 2016-01-01 2016-12-31 08829671 bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 08829671 bus:AbridgedAccounts 2016-01-01 2016-12-31 08829671 bus:RegisteredOffice 2016-01-01 2016-12-31 08829671 bus:Director1 2016-01-01 2016-12-31 08829671 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 08829671 bus:Agent1 2016-01-01 2016-12-31 08829671 countries:AllCountries 2016-01-01 2016-12-31 08829671 2015-12-31 08829671 core:RetainedEarningsAccumulatedLosses 2015-12-31 08829671 core:ShareCapital 2015-12-31 08829671 core:CurrentFinancialInstruments core:WithinOneYear 2015-12-31 iso4217:GBP

Registration number: 08829671

Aerborn Aburnet Limited

Unaudited Abridged Financial Statements

(Companies House Version)

for the Year Ended 31 December 2016

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

 

Aerborn Aburnet Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2

Notes to the Abridged Financial Statements

3 to 4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Aerborn Aburnet Limited
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Aerborn Aburnet Limited for the year ended 31 December 2016 as set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

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 at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Aerborn Aburnet Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Aerborn Aburnet Limited and state those matters that we have agreed to state to the Board of Directors of Aerborn Aburnet Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aerborn Aburnet Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Aerborn Aburnet Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Aerborn Aburnet Limited. You consider that Aerborn Aburnet Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Aerborn Aburnet Limited. 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 accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

22 September 2017

 

Aerborn Aburnet Limited

(Registration number: 08829671)
Abridged Balance Sheet as at 31 December 2016

Note

2016

2015

   

£

£

£

£

Current assets

   

 

Debtors

 

16,278

 

17,471

Cash at bank and in hand

   

21,942

 

2,844

   

38,220

 

20,315

Creditors: Amounts falling due within one year

 

(24,518)

 

(13,192)

Net assets

   

13,702

 

7,123

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

13,602

 

7,023

 

Total equity

   

13,702

 

7,123

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 to the Registrar in accordance with the provisions applicable to companies subject to the small companies' regime and the directors have not delivered to the Registrar a copy of the company's profit and loss account.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 22 September 2017 and signed on its behalf by:
 

.........................................

Mr R J S Burnet

Director

 

Aerborn Aburnet Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Manners Avenue
Manners Industrial Estate
Ilkeston
Derbyshire
DE7 8EF

These financial statements were authorised for issue by the Board on 22 September 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS 102. The transition from preparing the financial statements in accordance with FRSSE (2015) to FRS 102 (1a) has had no material impact on either the financial position or the financial performance as previously reported by the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Aerborn Aburnet Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.