Abbreviated Company Accounts - ABRAXAS AVIATION LIMITED

01503853 ABRAXAS AVIATION LIMITED 2016-06-30 false 2015-07-01 2016-06-30 true 01503853 2015-07-01 2016-06-30 01503853 2016-06-30 01503853 2015-06-30 01503853 uk-gaap-cd-bus:Director1 2015-07-01 2016-06-30 01503853 uk-gaap-cd-bus:Director2 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 01503853

ABRAXAS AVIATION LIMITED

Abbreviated Accounts

30 June 2016

ABRAXAS AVIATION LIMITED Registered Number 01503853

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	7,664	7,479
		7,664	7,479
Current assets
Debtors		112,264	119,239
Cash at bank and in hand		407	25,077
		112,671	144,316
Creditors: amounts falling due within one year		(25,178)	(24,929)
Net current assets (liabilities)		87,493	119,387
Total assets less current liabilities		95,157	126,866
Creditors: amounts falling due after more than one year		(360,000)	(360,000)
Total net assets (liabilities)		(264,843)	(233,134)
Capital and reserves
Called up share capital	3	49	49
Other reserves		51	51
Profit and loss account		(264,943)	(233,234)
Shareholders' funds		(264,843)	(233,134)

For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 12 August 2016

And signed on their behalf by:
S Read, Director

ABRAXAS AVIATION LIMITED Registered Number 01503853

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:
Fixtures, fittings & equipment 25% per annum on reducing balance basis

2Tangible fixed assets

	£
Cost
At 1 July 2015	84,782
Additions	2,739
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	87,521
Depreciation
At 1 July 2015	77,303
Charge for the year	2,554
On disposals	-
At 30 June 2016	79,857
Net book values
At 30 June 2016	7,664
At 30 June 2015	7,479

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
49 Ordinary shares of £1 each	49	49