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REGISTERED NUMBER: 02356805 (England and Wales)















TURWESTON FLIGHT CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TURWESTON FLIGHT CENTRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr D A Owen
Mrs K J Owen





REGISTERED OFFICE: Turweston Aerodrome
Brackley
Northants
Northamptonshire
NN13 5YD





REGISTERED NUMBER: 02356805 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,417,480 1,432,722

CURRENT ASSETS
Stocks 20,249 30,409
Debtors 5 179,075 289,142
Prepayments and accrued income 28,363 27,515
Cash at bank and in hand 1,259,858 705,087
1,487,545 1,052,153
CREDITORS
Amounts falling due within one year 6 347,469 284,822
NET CURRENT ASSETS 1,140,076 767,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,557,556

2,200,053

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,556,556 2,199,053
SHAREHOLDERS' FUNDS 2,557,556 2,200,053

TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 21 August 2024 and were signed on its behalf by:





Mr D A Owen - Director


TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Turweston Flight Centre 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 represents net invoiced sales of airfield activities, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold land & property - 2% on cost
Plant and machinery - 15% on cost and 15% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 taxation
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 33 ) .

TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Leasehold
Freehold land & Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 - 1,418,548 598,445
Additions 50,000 - 508
At 31 March 2024 50,000 1,418,548 598,953
DEPRECIATION
At 1 April 2023 - 302,599 364,007
Charge for year - 28,371 25,376
At 31 March 2024 - 330,970 389,383
NET BOOK VALUE
At 31 March 2024 50,000 1,087,578 209,570
At 31 March 2023 - 1,115,949 234,438

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 143,924 6,000 2,166,917
Additions 3,388 - 53,896
At 31 March 2024 147,312 6,000 2,220,813
DEPRECIATION
At 1 April 2023 65,429 2,160 734,195
Charge for year 14,623 768 69,138
At 31 March 2024 80,052 2,928 803,333
NET BOOK VALUE
At 31 March 2024 67,260 3,072 1,417,480
At 31 March 2023 78,495 3,840 1,432,722

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,875 58,736
Other debtors 39,850 8,682
Directors' current accounts 92,350 221,724
179,075 289,142

TURWESTON FLIGHT CENTRE LIMITED (REGISTERED NUMBER: 02356805)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 23,896 41,296
Corporation tax 194,701 119,673
Social security and other taxes 5,087 4,818
VAT 46,895 42,919
Other creditors 70,787 70,228
Accruals and deferred income 6,103 5,888
347,469 284,822

7. ULTIMATE CONTROLLING PARTY

The company has been under the control of Mr D A Owen, the majority shareholder and director.