03910753 1.7.13 30.6.14 30.6.14 Company accounts Private Limited Company FY true false true false true false false Preference shares 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure039107532013-06-30039107532014-06-30039107532013-07-012014-06-30039107532012-06-30039107532012-07-012013-06-30039107532013-06-3003910753ns12:England2013-07-012014-06-3003910753ns14:PoundSterling2013-07-012014-06-3003910753ns7:Director12013-07-012014-06-3003910753ns7:PreferenceShareClass22013-07-012014-06-3003910753ns7:OrdinaryShareClass12013-07-012014-06-3003910753ns7:Director22013-07-012014-06-3003910753ns7:RegisteredOffice2013-07-012014-06-3003910753ns7:EntityAccountantsOrAuditors2013-07-012014-06-3003910753ns5:PlantMachinery2013-07-012014-06-3003910753ns5:FixturesFittings2013-07-012014-06-3003910753ns5:MotorVehicles2013-07-012014-06-3003910753ns7:PreferenceShareClass22014-06-3003910753ns7:PreferenceShareClass22013-06-3003910753ns7:OrdinaryShareClass12014-06-3003910753ns7:OrdinaryShareClass12013-06-30
REGISTERED NUMBER: 03910753 (England and Wales)















Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

247 Jet Ltd

247 Jet Ltd (Registered number: 03910753)






Contents of the Abbreviated Accounts
for the Year Ended 30 June 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

247 Jet Ltd

Company Information
for the Year Ended 30 June 2014







DIRECTORS: P Mulligan
R M Ahmed





REGISTERED OFFICE: Suite 6 Burley House
15 High Street
Rayleigh
Essex
SS6 7EW





REGISTERED NUMBER: 03910753 (England and Wales)





ACCOUNTANTS: Butlers Financial Limited
Suite 6 Burley House
15 High Street
Rayleigh
Essex
SS6 7EW

247 Jet Ltd (Registered number: 03910753)

Abbreviated Balance Sheet
30 June 2014

30.6.14 30.6.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 2,515,583 2,577,630

CURRENT ASSETS
Stocks 50,500 58,000
Debtors 643,026 978,795
Cash at bank 14,159 24,212
707,685 1,061,007
CREDITORS
Amounts falling due within one year 1,845,110 2,016,941
NET CURRENT LIABILITIES (1,137,425 ) (955,934 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,158

1,621,696

CREDITORS
Amounts falling due after more than one
year

3

5,360,460

4,972,385
NET LIABILITIES (3,982,302 ) (3,350,689 )

CAPITAL AND RESERVES
Called up share capital 4 5,000 5,000
Revaluation reserve 258,425 258,425
Profit and loss account (4,245,727 ) (3,614,114 )
SHAREHOLDERS' FUNDS (3,982,302 ) (3,350,689 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 in accordance with Section 476 of the Companies Act 2006.

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.

247 Jet Ltd (Registered number: 03910753)

Abbreviated Balance Sheet - continued
30 June 2014


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 31 March 2015 and were signed on its behalf by:





P Mulligan - Director


247 Jet Ltd (Registered number: 03910753)

Notes to the Abbreviated Accounts
for the Year Ended 30 June 2014

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis. This assumes that the company will
continue in existence for the foreseeable future.

The validity of this assumption depends on the continued financial support of the directors and creditors.

If the company were unable to continue in operational existence, adjustments would have to be made to reduce
the balance sheet values of assets to their recoverable amounts, and to provide for any further liabilities that
might arise and to reclassify fixed assets as current assets. Long term liabilities would also have to be
reclassified as current liabilities.

The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

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 April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service
contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Aircraft - 2% on cost
Other tangible assets - 33% on reducing balance
Motor vehicles - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

247 Jet Ltd (Registered number: 03910753)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 June 2014

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 July 2013
and 30 June 2014 2,951,608
DEPRECIATION
At 1 July 2013 373,978
Charge for year 62,047
At 30 June 2014 436,025
NET BOOK VALUE
At 30 June 2014 2,515,583
At 30 June 2013 2,577,630

3. CREDITORS

Creditors include the following debts falling due in more than five years:

30.6.14 30.6.13
£    £   
Repayable otherwise than by instalments 5,360,460 4,972,385

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.14 30.6.13
value: £    £   
1,394,370 Preference shares £1 1,394,370 1,394,370

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.14 30.6.13
value: £    £   
5,000 Ordinary 1 5,000 5,000