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REGISTERED NUMBER: OC347013 (England and Wales)










Fly 7 Helicopters LLP

Financial Statements

for the Period 1st October 2022 to 31st March 2024






Fly 7 Helicopters LLP (Registered number: OC347013)






Contents of the Financial Statements
for the Period 1st October 2022 to 31st March 2024




Page

General Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Fly 7 Helicopters LLP

General Information
for the Period 1st October 2022 to 31st March 2024







DESIGNATED MEMBERS: M Chadwick
Mrs J Chadwick





REGISTERED OFFICE: 38 Dollar Street
Cirencester
Gloucestershire
GL7 2AN





REGISTERED NUMBER: OC347013 (England and Wales)





ACCOUNTANTS: Woodward Hale
Chartered Accountants
38 Dollar Street
Cirencester
Gloucestershire
GL7 2AN

Fly 7 Helicopters LLP (Registered number: OC347013)

Balance Sheet
31st March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 216,245 233,327

CURRENT ASSETS
Debtors 5 27,109 26,394
Prepayments and accrued income 4,326 8,442
Cash at bank 13,988 2,594
45,423 37,430
CREDITORS
Amounts falling due within one year 6 1,733 3,926
NET CURRENT ASSETS 43,690 33,504
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

259,935

266,831

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

24,935

31,831

MEMBERS' OTHER INTERESTS
Capital accounts 37,000 37,000
Revaluation reserve 8 198,000 198,000
259,935 266,831

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 24,935 31,831
Members' other interests 235,000 235,000
Amounts due from members 5 (18,760 ) (15,281 )
241,175 251,550

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31st March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Fly 7 Helicopters LLP (Registered number: OC347013)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19th August 2024 and were signed by:





M Chadwick - Designated member

Fly 7 Helicopters LLP (Registered number: OC347013)

Notes to the Financial Statements
for the Period 1st October 2022 to 31st March 2024

1. STATUTORY INFORMATION

Fly 7 Helicopters LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of goods and services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Helicopter - 5% on cost
Equipment - 25% on reducing balance

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Helicopter Equipment Totals
£    £    £   
COST
At 1st October 2022
and 31st March 2024 330,000 19,575 349,575
DEPRECIATION
At 1st October 2022 99,000 17,248 116,248
Charge for period 16,500 582 17,082
At 31st March 2024 115,500 17,830 133,330
NET BOOK VALUE
At 31st March 2024 214,500 1,745 216,245
At 30th September 2022 231,000 2,327 233,327

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 8,349 11,113
Amounts due from members 18,760 15,281
27,109 26,394

Fly 7 Helicopters LLP (Registered number: OC347013)

Notes to the Financial Statements - continued
for the Period 1st October 2022 to 31st March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
VAT 20 2,048
Accrued expenses 1,713 1,878
1,733 3,926

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

8. RESERVES
Revaluation
reserve
£   
At 1st October 2022
and 31st March 2024 198,000