REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Bickerton's Aerodromes Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
Bickerton's Aerodromes Limited |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Bickerton's Aerodromes Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Stoke Bruerne |
Northamptonshire |
NN12 7SF |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Bickerton's Aerodromes Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bickerton's Aerodromes Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Bickerton's Aerodromes Limited, as a body, in accordance with the terms of our engagement letter dated 21 January 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Bickerton's Aerodromes Limited and state those matters that we have agreed to state to the Board of Directors of Bickerton's Aerodromes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bickerton's Aerodromes Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Bickerton's Aerodromes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bickerton's Aerodromes Limited. You consider that Bickerton's Aerodromes Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Bickerton's Aerodromes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Bickerton's Aerodromes Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoiced value of aerodrome and hangarage fees, sales of aviation fuel and rent receivable, net of Value Added Tax. |
Tangible fixed assets |
Plant and machinery etc | - |
Buildings and associated infrastructure used in the company's trade as an airport operator are depreciated over 25 years on the straight line basis. |
Plant and machinery is depreciated at rates varying between 15% and 33% on the reducing balance. |
Aircraft engines are depreciated on the basis of hours flown, so as to write off their cost over their permitted maximum working lives. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
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 of aviation fuel are valued at the lower of cost and net realisable value. |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank over drafts. Bank overdrafts are shown within borrowings in current liabilities. |
Basic financial assets |
Basic financial assets, which include debtors and bank and cash balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the individual financial arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, in which case the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due in one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
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 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Investments |
Fixed asset investments are stated at their open market value with any impairment charges or reversals being taken to Profit & Loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2024 | 121,900 |
Impairments | ( |
) | (1,362 | ) |
At 31 December 2024 | 120,538 |
NET BOOK VALUE |
At 31 December 2024 | 120,538 |
At 31 December 2023 | 121,900 |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 December 2024 is represented by: |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
Valuation in 2018 | 2 | 95,644 | 95,646 |
Valuation in 2019 | - | 22,473 | 22,473 |
Valuation in 2020 | - | (12,623 | ) | (12,623 | ) |
Valuation in 2021 | - | 5,008 | 5,008 |
Valuation in 2022 | - | 1,579 | 1,579 |
Valuation in 2023 | - | 9,817 | 9,817 |
Valuation in 2024 | - | (1,362 | ) | (1,362 | ) |
2 | 120,536 | 120,538 |
Listed investments comprise investments listed on the London Stock Exchange. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Fair value at 31 December 2024 is represented by: |
£ |
Valuation in 2019 | 1,950,000 |
In the opinion of the directors, the value of the company's investment properties is not materially different to their value at the last professional valuation in May 2023. |
Bickerton's Aerodromes Limited (Registered number: 00346189) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Amounts owed by participating interests |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Amounts owed to participating interests |
Taxation and social security |
Other creditors |
9. | ULTIMATE CONTROLLING PARTY |