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REGISTERED NUMBER: 06378835 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Flying at Lee on Solent Limited
Trading as
Phoenix Aviation

Flying at Lee on Solent Limited (Registered number: 06378835)
Trading as Phoenix Aviation






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Flying at Lee on Solent Limited
Trading as Phoenix Aviation

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr A Davis
Mr S Cockshott
Mr F A Thompson
Mr D S Olson
Mr N J Gunner





SECRETARY: Mr A Davis





REGISTERED OFFICE: 132A Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3AL





REGISTERED NUMBER: 06378835 (England and Wales)





ACCOUNTANTS: Northover & Co Accountants Ltd
132A Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3AL

Flying at Lee on Solent Limited (Registered number: 06378835)
Trading as Phoenix Aviation

Abridged Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 321,560 341,433

CURRENT ASSETS
Debtors 53,731 60,999
Cash at bank and in hand 53,282 79,351
107,013 140,350
CREDITORS
Amounts falling due within one year 130,582 165,183
NET CURRENT LIABILITIES (23,569 ) (24,833 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,991

316,600

PROVISIONS FOR LIABILITIES 5 32,999 27,898
NET ASSETS 264,992 288,702

CAPITAL AND RESERVES
Called up share capital 6 5 5
Non Distributable Profits 7 256,000 276,000
Retained earnings 8,987 12,697
SHAREHOLDERS' FUNDS 264,992 288,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Flying at Lee on Solent Limited (Registered number: 06378835)
Trading as Phoenix Aviation

Abridged Balance Sheet - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 August 2024 and were signed on its behalf by:





Mr S Cockshott - Director


Flying at Lee on Solent Limited (Registered number: 06378835)
Trading as Phoenix Aviation

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Flying at Lee on Solent 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.

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 as modified by the revaluation of certain assets.

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

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 - 25% on reducing balance
Computer equipment - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 December 2022 347,868
Additions 548
At 30 November 2023 348,416
DEPRECIATION
At 1 December 2022 6,435
Charge for year 421
Impairments 20,000
At 30 November 2023 26,856
NET BOOK VALUE
At 30 November 2023 321,560
At 30 November 2022 341,433

The directors are of the opinion that the company aircraft can be accurately valued at fair value because of the availability of ample details of other open market value comparisons to identical or very similar aircraft.
The directors intend to adjust fair values every financial year and so for this reason deem it not necessary to provide any annual depreciation charge. One of the company aircraft's was devalued this year by £20,000..

Flying at Lee on Solent Limited (Registered number: 06378835)
Trading as Phoenix Aviation

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Deferred tax asset (4,251 ) (4,212 )
Deferred tax on revaluation 37,250 32,110
32,999 27,898

Deferred
tax
£   
Balance at 1 December 2022 27,898
Charge to Income Statement during year 5,101
Balance at 30 November 2023 32,999

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5 Ordinary £1 5 5

7. RESERVES
Non
Distributable
Profits
£   
At 1 December 2022 276,000
Impairment (20,000 )

At 30 November 2023 256,000