1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,718 5,453 1,571 7,024 8,694 10,265 xbrli:pure xbrli:shares iso4217:GBP 01972741 2022-12-01 2023-11-30 01972741 2023-11-30 01972741 2022-11-30 01972741 2021-12-01 2022-11-30 01972741 2022-11-30 01972741 2021-11-30 01972741 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-01 2023-11-30 01972741 core:PlantMachinery 2022-12-01 2023-11-30 01972741 core:FurnitureFittings 2022-12-01 2023-11-30 01972741 core:MotorVehicles 2022-12-01 2023-11-30 01972741 bus:Director1 2022-12-01 2023-11-30 01972741 core:PatentsTrademarksLicencesConcessionsSimilar 2022-11-30 01972741 core:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 01972741 core:LandBuildings 2022-11-30 01972741 core:PlantMachinery 2022-11-30 01972741 core:FurnitureFittings 2022-11-30 01972741 core:MotorVehicles 2022-11-30 01972741 core:LandBuildings 2023-11-30 01972741 core:PlantMachinery 2023-11-30 01972741 core:FurnitureFittings 2023-11-30 01972741 core:MotorVehicles 2023-11-30 01972741 core:WithinOneYear 2023-11-30 01972741 core:WithinOneYear 2022-11-30 01972741 core:AfterOneYear 2023-11-30 01972741 core:AfterOneYear 2022-11-30 01972741 core:ShareCapital 2023-11-30 01972741 core:ShareCapital 2022-11-30 01972741 core:RetainedEarningsAccumulatedLosses 2023-11-30 01972741 core:RetainedEarningsAccumulatedLosses 2022-11-30 01972741 core:PatentsTrademarksLicencesConcessionsSimilar 2022-11-30 01972741 core:PlantMachinery 2022-11-30 01972741 core:MotorVehicles 2022-11-30 01972741 bus:SmallEntities 2022-12-01 2023-11-30 01972741 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 01972741 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 01972741 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 01972741 bus:FullAccounts 2022-12-01 2023-11-30 01972741 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 01972741 core:AllAssociates 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 01972741
The Fighter Collection Limited
Unaudited financial statements
30 November 2023
The Fighter Collection Limited
Statement of financial position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
8,694
10,265
Tangible assets
6
670,886
1,110,331
---------
-----------
679,580
1,120,596
Current assets
Stocks
1,090,569
1,036,660
Debtors
7
253,039
820,057
Cash at bank and in hand
66,231
774,953
-----------
-----------
1,409,839
2,631,670
Creditors: Amounts falling due within one year
8
( 217,934)
( 247,072)
-----------
-----------
Net current assets
1,191,905
2,384,598
-----------
-----------
Total assets less current liabilities
1,871,485
3,505,194
Creditors: Amounts falling due after more than one year
9
( 10,105,410)
( 9,259,989)
------------
-----------
Net liabilities
( 8,233,925)
( 5,754,795)
------------
-----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,234,025)
( 5,754,895)
-----------
-----------
Shareholders deficit
( 8,233,925)
( 5,754,795)
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 November 2023 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 .
The Fighter Collection Limited
Statement of financial position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 3 July 2024 , and are signed on behalf of the board by:
N S S Grey
Director
Company registration number: 01972741
The Fighter Collection Limited
Notes to the financial statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Duxford Airfield Hangar 2, Duxford, Cambridge, CB22 4QR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis, the validity of which depends on the continued support of the director and foreign associated companies in which the director has an interest in. If the company was unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for any further liabilities which might arise and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademarks
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvements
-
Over the term of the lease
Tools and equipment
-
15% reducing balance
Website
-
50% straight line
Aircraft
-
10% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 1 (2022: 1 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 December 2022 and 30 November 2023
15,718
-------
Amortisation
At 1 December 2022
5,453
Charge for the year
1,571
-------
At 30 November 2023
7,024
-------
Carrying amount
At 30 November 2023
8,694
-------
At 30 November 2022
10,265
-------
6. Tangible assets
Leasehold property improve-ments
Tools and equipment
Website
Aircraft
Total
£
£
£
£
£
Cost
At 1 December 2022
85,334
31,982
23,663
1,327,049
1,468,028
Additions
2,796
2,796
Disposals
( 435,141)
( 435,141)
-------
-------
-------
-----------
-----------
At 30 November 2023
85,334
34,778
23,663
891,908
1,035,683
-------
-------
-------
-----------
-----------
Depreciation
At 1 December 2022
85,334
28,338
23,663
220,362
357,697
Charge for the year
966
84,936
85,902
Disposals
( 78,802)
( 78,802)
-------
-------
-------
-----------
-----------
At 30 November 2023
85,334
29,304
23,663
226,496
364,797
-------
-------
-------
-----------
-----------
Carrying amount
At 30 November 2023
5,474
665,412
670,886
-------
-------
-------
-----------
-----------
At 30 November 2022
3,644
1,106,687
1,110,331
-------
-------
-------
-----------
-----------
7. Debtors
2023
2022
£
£
Trade debtors
32,288
Other debtors
220,751
820,057
---------
---------
253,039
820,057
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
211,044
194,695
Other creditors
6,890
52,377
---------
---------
217,934
247,072
---------
---------
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Other creditors
10,105,410
9,259,989
------------
-----------
10. Related party transactions
At the 30th November 2023 the company owed Liftec Ltd a company registered in Jersey and under common control £nil (2022 - £127,465). The loan is interest free. At the 30th November 2023 the company owed Patina Ltd a company registered in Jersey and under common control £10,105,410 (2022 - £158,022). The loan is interest free. At the 30th November 2023 the company owed Eagle Dynamics Ltd SA a company registered in Switzerland and under common control £nil (2022 - £9,259,989). The loan is interest free.