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REGISTERED NUMBER: 01634502 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Charles Church Spitfires Limited

Charles Church Spitfires Limited (Registered number: 01634502)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Charles Church Spitfires Limited (Registered number: 01634502)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 487,829 508,441

CURRENT ASSETS
Stocks 13,297 15,687
Debtors 5 4,008 4,881
Cash at bank and in hand 10,323 44,520
27,628 65,088
CREDITORS
Amounts falling due within one year 6 177,326 1,408,523
NET CURRENT LIABILITIES (149,698 ) (1,343,435 )
TOTAL ASSETS LESS CURRENT LIABILITIES 338,131 (834,994 )

CREDITORS
Amounts falling due after more than one
year

7

(1,150,000

)

-

PROVISIONS FOR LIABILITIES (1,643 ) -
NET LIABILITIES (813,512 ) (834,994 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (813,612 ) (835,094 )
(813,512 ) (834,994 )

Charles Church Spitfires Limited (Registered number: 01634502)

Balance Sheet - continued
31 August 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 21 April 2025 and were signed on its behalf by:




Mrs S B Church - Director



Mr C N Church - Director


Charles Church Spitfires Limited (Registered number: 01634502)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Charles Church Spitfires Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01634502

Registered office: Roundwood Estate
Micheldever
Winchester
Hampshire
SO21 3BA

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 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.
Plant and machinery etc - 25% on cost and 5% on cost

Financial instruments
Classification
The company holds the following financial instruments:

Short term debtors and creditors;
Cash and bank balances; and
Unlisted investments.

All financial instruments are classified as basic.

Recognition and measurement
The company has elected to apply the provisions FRS102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transition costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


Charles Church Spitfires Limited (Registered number: 01634502)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued
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.

Going concern
The company is dependent on the continued financial support of the director through the use of the loan account. On the basis that this support will continue, the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

Charles Church Spitfires Limited (Registered number: 01634502)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2023 672,667 47,626 7,350 727,643
Additions 6,789 530 6,495 13,814
At 31 August 2024 679,456 48,156 13,845 741,457
DEPRECIATION
At 1 September 2023 170,299 44,315 4,588 219,202
Charge for year 29,421 2,319 2,686 34,426
At 31 August 2024 199,720 46,634 7,274 253,628
NET BOOK VALUE
At 31 August 2024 479,736 1,522 6,571 487,829
At 31 August 2023 502,368 3,311 2,762 508,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,008 4,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 47,927 16,258
Tax 14,768 18,703
Social security and other taxes 2,581 2,334
VAT 13,281 8,792
Other creditors 79,627 1,343,586
Payments on account 10,610 14,000
Accrued expenses 8,532 4,850
177,326 1,408,523

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 1,150,000 -