2022-11-01 2023-10-31 09059168 NORTH WEALD FLIGHT TRAINING LIMITED false 09059168 2022-11-01 2023-10-31 09059168 uk-bus:Director1 2022-11-01 2023-10-31 09059168 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09059168 uk-bus:SmallEntities 2022-11-01 2023-10-31 09059168 uk-bus:FullAccounts 2022-11-01 2023-10-31 09059168 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09059168 2022-11-01 09059168 2023-10-31 09059168 2022-10-31 xbrli:pure iso4217:GBP 09059168 2021-11-01 2022-10-31
Company Registration Number : 09059168 (England and Wales)
09059168
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-10-31
false
NORTH WEALD FLIGHT TRAINING LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-11-01
NORTH WEALD FLIGHT TRAINING LIMITED
Unaudited filleted financial statements
For the year ended 31 October 2023
NORTH WEALD FLIGHT TRAINING LIMITED
Contents
For the year ended 31 October 2023

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


NORTH WEALD FLIGHT TRAINING LIMITED
Company Information
For the year ended 31 October 2023

Company registration number 09059168 (England and Wales)
Directors Stewart Derek BRADDON
Simon Graham LOWMAN
Registered office address Hangar 2 Apron, Merlin Way
North Weald Airfield
Epping
Essex
CM16 6HR
Accountant Foss Accounting Limited
103 Burnell Gate
Chelmsford
Essex
CM1 6ED
NORTH WEALD FLIGHT TRAINING LIMITED
Statement of Financial Position
For the year ended 31 October 2023

2023 2022
Notes £ £
Fixed assets
Property, plant and equipment 552,664 512,855
6 552,664 512,855
Current assets
Debtors 208,178 152,861
Corporation tax receivable 12,681 12,575
Cash and cash equivalents 93,548 108,372
314,407 273,808
Current liabilities
Creditors: Amounts falling due within one year (414,137) (333,997)
(414,137) (333,997)
Net current (liabilities)/assets (99,730) (60,190)
Total assets less current liabilities 452,934 452,666
Non-current liabilities
Creditors: Amounts falling due after more than one year (15,833) (25,833)
Provision for liabilities (65,000) (106,804)
Net assets/(liabilities) 372,101 320,028
Capital and reserves
Called up share capital 150 150
Retained earnings 371,951 319,878
Shareholder's funds 372,101 320,028
For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 October 2024
.............................
Stewart Derek BRADDON (Director)
Company registration number: 09059168
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-10-31 31 October 2023
2023 2022
£ £
Fixed Assets 552,664 512,855
Current Assets 279,024 252,958
Prepayments and accrued income 35,383 20,850
Creditors: amounts falling due within one year (414,137) (333,997)
Net current assets (liabilities) (99,730) (60,190)
Total assets less current liabilities 452,934 452,666
CREDITORS: Amounts falling due more than one year (15,833) (25,833)
Provisions for liabilities (65,000) (106,804)
Net Assets (liabilities) 372,101 320,028
Capital and Reserves 372,101 320,028
For the year ending 31/10/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-10-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 29 October 2024 2024-10-27 and signed on behalf of the board,
.............................
Stewart Derek BRADDON
Director
Company registration number: 09059168
NORTH WEALD FLIGHT TRAINING LIMITED
Notes to the Financial Statements
For the year ended 31 October 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Hangar 2 Apron, Merlin Way, North Weald Airfield, Epping, Essex, CM16 6HR.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Some items of plant and machinery having different useful lives are accounted for as separate items. Included in plant and machinery are Aircraft at a cost of £458,504 (2022 - £426,662) that are not depreciated.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings3% straight line
Plant and Machinery25% reducing balance
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment
Motor Cars
Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.


(4) Employees
During the year, the average number of employees including director was 4 (2022 : 4).

(5) Related party transactions
FT Aero Limited is a related party by the virtue of having the same directors and shareholders. During the year, North Weald Flight Training Limited charged FT Aero Limited £15,600 (2022 - NIL) for rent and utilities and FT Aero Limited charged North Weald Flight Training Limited £69,165 (2022 - NIL) for aircraft maintenance and repairs. The balance outstanding from this relating party was £11,763 on 31st October 2023 (£7,987 on 31st October 2022).

Lowman AL Ltd is a related party by virtue of being wholly owned by the common director, Simon Lowman. During the year, Lowman AL Ltd charged North Weald Flight Training Limited £37,565 for aircraft hire. The balance outstanding to this related party was £6,109 on 31st October 2023 (NIL on 31st October 2022).

(6) Fixed assets
Tangible

£
Cost
As at 01 November 2022543,061
Additions52,066
As at 31 October 2023595,127
Depreciation/Amortisation
As at 01 November 202230,206
For the year12,258
As at 31 October 202342,464
Net book value
As at 31 October 2023552,663
As at 31 October 2022512,855