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Company Registration No. 13356304 (England and Wales)
Historic Aero Engineering Ltd Unaudited accounts for the year ended 30 April 2024
Historic Aero Engineering Ltd Unaudited accounts Contents
Page
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Historic Aero Engineering Ltd Company Information for the year ended 30 April 2024
Directors
Deborah Smith Russell Smith
Company Number
13356304 (England and Wales)
Registered Office
Hangar 7 Merlin Way, North Weald Epping Essex CM16 6HR England
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Historic Aero Engineering Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
113,927 
- 
Tangible assets
8,213 
- 
122,140 
- 
Current assets
Inventories
20,087 
- 
Debtors
60,192 
- 
Cash at bank and in hand
10,435 
100 
90,714 
100 
Creditors: amounts falling due within one year
(225,605)
- 
Net current (liabilities)/assets
(134,891)
100 
Total assets less current liabilities
(12,751)
100 
Creditors: amounts falling due after more than one year
(22,651)
- 
Net (liabilities)/assets
(35,402)
100 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(35,502)
- 
Shareholders' funds
(35,402)
100 
For the year ending 30 April 2024 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 responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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.
The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by
Deborah Smith Director Company Registration No. 13356304
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Historic Aero Engineering Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Historic Aero Engineering Ltd is a private company, limited by shares, registered in England and Wales, registration number 13356304. The registered office is Hangar 7, Merlin Way, North Weald, Epping, Essex, CM16 6HR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over 10 years.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Historic Aero Engineering Ltd Notes to the Accounts for the year ended 30 April 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
- 
Additions
126,586 
At 30 April 2024
126,586 
Amortisation
At 1 May 2023
- 
Charge for the year
12,659 
At 30 April 2024
12,659 
Net book value
At 30 April 2024
113,927 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
- 
- 
- 
Additions
8,077 
1,850 
9,927 
At 30 April 2024
8,077 
1,850 
9,927 
Depreciation
Charge for the year
1,344 
370 
1,714 
At 30 April 2024
1,344 
370 
1,714 
Net book value
At 30 April 2024
6,733 
1,480 
8,213 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
60,192 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
36,000 
- 
VAT
68,192 
- 
Trade creditors
75,662 
- 
Taxes and social security
15,442 
- 
Other creditors
12,397 
- 
Loans from directors
15,662 
- 
Accruals
2,250 
- 
225,605 
- 
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Historic Aero Engineering Ltd Notes to the Accounts for the year ended 30 April 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
22,651 
- 
9
Average number of employees
During the year the average number of employees was 3 (2023: 0).
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