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REGISTERED NUMBER: 01290725 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

Bulldog Aviation Limited

Bulldog Aviation Limited (Registered number: 01290725)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Bulldog Aviation Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: K T Barber





REGISTERED OFFICE: 5 Grange Way
Colchester
Essex
CO2 8HG





REGISTERED NUMBER: 01290725 (England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Bulldog Aviation Limited (Registered number: 01290725)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,270,622 1,327,805

CURRENT ASSETS
Debtors 5 63,710 36,629
Cash at bank 29,651 77,662
93,361 114,291
CREDITORS
Amounts falling due within one year 6 1,138,512 1,405,052
NET CURRENT LIABILITIES (1,045,151 ) (1,290,761 )
TOTAL ASSETS LESS CURRENT LIABILITIES 225,471 37,044

PROVISIONS FOR LIABILITIES 296,540 10,879
NET (LIABILITIES)/ASSETS (71,069 ) 26,165

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (71,169 ) 26,065
SHAREHOLDERS' FUNDS (71,069 ) 26,165

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





K T Barber - Director


Bulldog Aviation Limited (Registered number: 01290725)

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

1. STATUTORY INFORMATION

Bulldog Aviation 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.

Going concern
Although at the statement of financial position date the company had net current liabilities of £1,045,151 (2022: £1,290,761), included within creditors falling due within one year is £1,107,814 (2022: £1,369,834) due to fellow group companies. Repayment of these intercompany amounts will not be sought until the company's cashflow permits. In view of this ongoing support, the director has a reasonable expectation that the company will remain in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
In preparing these financial statements the director has made the following significant judgements and estimates:-

Tangible fixed assets
Tangible fixed assets are depreciated over their estimated useful economic lives taking into account, where relevant, their estimated residual values. Useful economic lives and residual values are re-assessed annually and amended as considered necessary to reflect economic utilisation and physical condition of the 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 the cost less estimated residual value of each asset over its estimated useful life.

Airfield runway- Straight line over 30 years
Aircraft hangars- Straight line over 25 years
Plant and machinery- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Aircraft- 5% on cost

Aircraft are depreciated at a rate of 5% using the straight line basis for the first ten years of their life. After this aircraft are deemed to have reached their residual valuation due to the required regular maintenance maintaining their level of operational performance.

Bulldog Aviation Limited (Registered number: 01290725)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Bulldog Aviation Limited (Registered number: 01290725)

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

4. TANGIBLE FIXED ASSETS
Airfield Aircraft Plant and
runway hangars machinery
£    £    £   
COST
At 1 December 2022 127,213 71,617 18,442
Disposals - - -
At 30 November 2023 127,213 71,617 18,442
DEPRECIATION
At 1 December 2022 84,808 30,950 18,405
Charge for year 4,240 2,865 9
Eliminated on disposal - - -
At 30 November 2023 89,048 33,815 18,414
NET BOOK VALUE
At 30 November 2023 38,165 37,802 28
At 30 November 2022 42,405 40,667 37

Motor
Aircraft vehicles Totals
£    £    £   
COST
At 1 December 2022 1,465,803 25,000 1,708,075
Disposals (40,397 ) - (40,397 )
At 30 November 2023 1,425,406 25,000 1,667,678
DEPRECIATION
At 1 December 2022 246,107 - 380,270
Charge for year 44,281 - 51,395
Eliminated on disposal (34,609 ) - (34,609 )
At 30 November 2023 255,779 - 397,056
NET BOOK VALUE
At 30 November 2023 1,169,627 25,000 1,270,622
At 30 November 2022 1,219,696 25,000 1,327,805

Included within aircraft are aircraft with a net book value of £841,344 (2022: £885,626) which, due to registration requirements, are held in an aircraft trust. Substantially all of the risks and rewards incidental to ownership of these aircraft have however been transferred to the company and hence they are recognised as company assets.

The director considers that the current value of the motor vehicle is in excess of cost.

Bulldog Aviation Limited (Registered number: 01290725)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,693 7,659
Amounts owed by group undertakings 13,232 -
Other debtors 40,785 28,970
63,710 36,629

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17,823 22,605
Amounts owed to group undertakings 1,107,814 1,369,834
Other creditors 12,875 12,613
1,138,512 1,405,052

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 67,872 67,872
Between one and five years 271,488 271,488
In more than five years 107,465 175,337
446,825 514,697

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

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

The Report of the Auditors was unqualified.

Michael Mortimer FCA FCCA (Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited

10. RELATED PARTY TRANSACTIONS

The company provides the use of its aircraft and facilities to Anglian Flight Centres Limited, a fellow subsidiary. No amounts are received for this use on the basis that Anglian Flight Centres Limited covers their appropriate service and maintenance costs.

Bulldog Aviation Limited (Registered number: 01290725)

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

11. CONTROLLING PARTY

The controlling party is Colne Valley Electrical Limited whose registered office is at 5 Grange Way, Colchester, Essex, CO2 8HG.