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REGISTERED NUMBER: 02110748 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

ARMY FLYING MUSEUM TRADING COMPANY
LIMITED

ARMY FLYING MUSEUM TRADING COMPANY
LIMITED (REGISTERED NUMBER: 02110748)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ARMY FLYING MUSEUM TRADING COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTORS: C S Sibun
P A W Edwards
C M Hopkins
R Smith
J A Johnson
A R Bulpitt
N D Sexton
Colonel E Butterworth
WO1 P W Docherty
Colonel B Shaw



SECRETARY: A J N Simkins



REGISTERED OFFICE: Middle Wallop
Stockbridge
Hampshire
SO20 8FB



REGISTERED NUMBER: 02110748 (England and Wales)



SENIOR STATUTORY AUDITOR: Kerry Lawrance FCA



AUDITORS: Compass Accountants Limited
Chartered Accountants and Statutory Auditors
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

ARMY FLYING MUSEUM TRADING COMPANY
LIMITED (REGISTERED NUMBER: 02110748)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 772 13,493

CURRENT ASSETS
Inventories 5 13,591 13,054
Debtors 6 19,044 243
Cash at bank 24,200 31,356
56,835 44,653
CREDITORS
Amounts falling due within one year 7 22,677 16,257
NET CURRENT ASSETS 34,158 28,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,930

41,889

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 34,830 41,789
SHAREHOLDERS' FUNDS 34,930 41,889

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th July 2024 and were signed on its behalf by:




N D Sexton - Director



C M Hopkins - Director


ARMY FLYING MUSEUM TRADING COMPANY
LIMITED (REGISTERED NUMBER: 02110748)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024


1. STATUTORY INFORMATION

Army Flying Museum Trading Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on shop and café sales.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ARMY FLYING MUSEUM TRADING COMPANY
LIMITED (REGISTERED NUMBER: 02110748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 64,490 64,660 129,150
DEPRECIATION
At 1st March 2023 54,644 61,013 115,657
Charge for year 9,846 2,875 12,721
At 29th February 2024 64,490 63,888 128,378
NET BOOK VALUE
At 29th February 2024 - 772 772
At 28th February 2023 9,846 3,647 13,493

5. INVENTORIES
2024 2023
£    £   
Stocks 13,591 13,054

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 18,621 -
Other debtors 423 243
19,044 243

ARMY FLYING MUSEUM TRADING COMPANY
LIMITED (REGISTERED NUMBER: 02110748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,151 2,158
Trade creditors 685 832
Amounts owed to group undertakings - 3,889
Taxation and social security 481 851
Other creditors 19,360 8,527
22,677 16,257

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1st March 2023 41,789
Profit for the year 8,595
Payments under gift aid (15,554 )
At 29th February 2024 34,830

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kerry Lawrance FCA (Senior Statutory Auditor)
for and on behalf of Compass Accountants Limited

11. RELATED PARTY DISCLOSURES

The company was controlled throughout the current and previous periods by the board of directors.

During the year the Army Flying Museum Limited provided staff employee services to the company for the amount of £115,080 (2023 £101,727). At the balance sheet date the amount due from the Army Flying Museum was £18,621 (2023 -£3,889).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the parent undertaking, the Army Flying Museum Limited, registered in England and Wales, whose registered office is Middle Wallop, Stockbridge, Hampshire. SO20 8DY.