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REGISTERED NUMBER: 03109845 (England and Wales)

















Vectair Aviation (1995) Limited

Financial Statements for the Year Ended 31 December 2024






Vectair Aviation (1995) Limited (Registered number: 03109845)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vectair Aviation (1995) Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr D F Keedy
Mr J B Keedy
Mr R Marlow
Mr D Jarred





REGISTERED OFFICE: 7 Lakes Country Park
Wharf Road
Crowle
Scunthorpe
North Lincolnshire
DN17 4BQ





REGISTERED NUMBER: 03109845 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Vectair Aviation (1995) Limited (Registered number: 03109845)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,038,312 9,286,717
Investment property 5 - 389,000
9,038,312 9,675,717

CURRENT ASSETS
Stocks 6 602,077 535,730
Debtors 7 1,750,812 1,354,540
Cash at bank and in hand 2,879,293 2,140,413
5,232,182 4,030,683
CREDITORS
Amounts falling due within one year 8 4,110,057 3,954,302
NET CURRENT ASSETS 1,122,125 76,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,160,437

9,752,098

CREDITORS
Amounts falling due after more than one
year

9

(2,113,261

)

(2,373,787

)

PROVISIONS FOR LIABILITIES (327,686 ) (388,033 )
NET ASSETS 7,719,490 6,990,278

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 11 1,807,761 1,822,956
Retained earnings 5,911,726 5,167,319
SHAREHOLDERS' FUNDS 7,719,490 6,990,278

Vectair Aviation (1995) Limited (Registered number: 03109845)

Balance Sheet - continued
31 December 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





Mr J B Keedy - Director


Vectair Aviation (1995) Limited (Registered number: 03109845)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Vectair Aviation (1995) 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.
Freehold property - Straight line over 25 years
Plant and machinery - 25% on reducing balance
Pitch developments - Straight line over 10 years
Motor vehicles - 25% on reducing balance

No depreciation is provided on Freehold Land.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Profit and Loss Account, 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 tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Vectair Aviation (1995) Limited (Registered number: 03109845)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 42 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Pitch Motor
property machinery developments vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 10,645,146 1,074,058 2,826,897 124,105 14,670,206
Additions - 10,459 - 9,535 19,994
Disposals - - - (1,700 ) (1,700 )
At 31 December 2024 10,645,146 1,084,517 2,826,897 131,940 14,688,500
DEPRECIATION
At 1 January 2024 1,844,121 929,453 2,547,941 61,974 5,383,489
Charge for year 131,554 38,766 79,206 17,598 267,124
Eliminated on disposal - - - (425 ) (425 )
At 31 December 2024 1,975,675 968,219 2,627,147 79,147 5,650,188
NET BOOK VALUE
At 31 December 2024 8,669,471 116,298 199,750 52,793 9,038,312
At 31 December 2023 8,801,025 144,605 278,956 62,131 9,286,717

Cost or valuation at 31 December 2024 is represented by:

Freehold Plant and Pitch Motor
property machinery developments vehicles Totals
£    £    £    £    £   
Valuation in 2013 2,103,545 - - - 2,103,545
Cost 8,541,601 1,084,517 2,826,897 131,940 12,584,955
10,645,146 1,084,517 2,826,897 131,940 14,688,500

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 8,270,830 8,270,830
Aggregate depreciation 1,713,302 1,713,302

Value of land in freehold land and buildings 7,368,475 7,368,475

Freehold land and buildings were valued on an open market basis on 5 November 2012 by Edwards & Partners .

Vectair Aviation (1995) Limited (Registered number: 03109845)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 389,000
Disposals (332,114 )
Revaluations (56,886 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 389,000

Fair value at 31 December 2024 is represented by:
£   

The investment properties were valued on an open market basis on 31 December 2023 by the directors .

6. STOCKS
2024 2023
£    £   
Total stock 602,077 535,730

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,031,144 870,963
7 Leisure Ltd 247,692 358,844
Kada Leisure Ltd 378,594 -
Prepayments 93,382 124,733
1,750,812 1,354,540

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 114,825 104,387
Trade creditors 92,322 116,642
Tax 312,418 85,372
Social security and other taxes 66,508 141,275
VAT 473,370 445,586
Accruals 401,674 523,884
Deferred income 2,648,940 2,537,156
4,110,057 3,954,302

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 550,748 501,856
Bank loans more 5 yr by instal 80,591 229,141
Amounts owed to group undertakings 1,481,922 1,642,790
2,113,261 2,373,787

Vectair Aviation (1995) Limited (Registered number: 03109845)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,591 229,141

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 746,164 835,384

The Barclays Bank loan is secured by a fixed charge on the property at Seven Lakes Leisure Park, Crowle Wharf, Ealand, Humberside.

11. RESERVES
Revaluation
reserve
£   
At 1 January 2024 1,822,956
Buildings 41,691
Investment property (56,886 )

At 31 December 2024 1,807,761

12. ULTIMATE CONTROLLING PARTY

The controlling party is Leisure Park Management Limited.

The ultimate controlling party is Mr D F Keedy.