The Flying School Limited 06092027 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is flying instruction services. Digita Accounts Production Advanced 6.30.9574.0 true true 06092027 2024-04-01 2025-03-31 06092027 2025-03-31 06092027 core:RetainedEarningsAccumulatedLosses 2025-03-31 06092027 core:ShareCapital 2025-03-31 06092027 core:CurrentFinancialInstruments 2025-03-31 06092027 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 06092027 core:Non-currentFinancialInstruments 2025-03-31 06092027 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 06092027 core:MotorVehicles 2025-03-31 06092027 core:OfficeEquipment 2025-03-31 06092027 core:PlantMachinery 2025-03-31 06092027 bus:SmallEntities 2024-04-01 2025-03-31 06092027 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06092027 bus:FilletedAccounts 2024-04-01 2025-03-31 06092027 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06092027 bus:RegisteredOffice 2024-04-01 2025-03-31 06092027 bus:Director2 2024-04-01 2025-03-31 06092027 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06092027 core:Goodwill 2024-04-01 2025-03-31 06092027 core:Aircraft 2024-04-01 2025-03-31 06092027 core:MotorVehicles 2024-04-01 2025-03-31 06092027 core:OfficeEquipment 2024-04-01 2025-03-31 06092027 core:PlantMachinery 2024-04-01 2025-03-31 06092027 countries:England 2024-04-01 2025-03-31 06092027 2024-03-31 06092027 core:MotorVehicles 2024-03-31 06092027 core:OfficeEquipment 2024-03-31 06092027 core:PlantMachinery 2024-03-31 06092027 2023-04-01 2024-03-31 06092027 2024-03-31 06092027 core:RetainedEarningsAccumulatedLosses 2024-03-31 06092027 core:ShareCapital 2024-03-31 06092027 core:CurrentFinancialInstruments 2024-03-31 06092027 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06092027 core:Non-currentFinancialInstruments 2024-03-31 06092027 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06092027 core:MotorVehicles 2024-03-31 06092027 core:OfficeEquipment 2024-03-31 06092027 core:PlantMachinery 2024-03-31 06092027 core:PreviouslyStatedAmount 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 06092027

The Flying School Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

The Flying School Limited

(Registration number: 06092027)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

142,884

136,958

Current assets

 

Debtors

5

6,052

8,901

Cash at bank and in hand

 

17,562

28,134

 

23,614

37,035

Creditors: Amounts falling due within one year

6

(27,760)

(33,476)

Net current (liabilities)/assets

 

(4,146)

3,559

Total assets less current liabilities

 

138,738

140,517

Creditors: Amounts falling due after more than one year

6

(76,707)

(80,991)

Net assets

 

62,031

59,526

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

62,029

59,524

Shareholders' funds

 

62,031

59,526

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 April 2025
 

.........................................
Mr A C Sweeney
Director

 

The Flying School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 20 Wolverhampton Business Airport
Bobbington
Stourbridge
DY7 5DY

These financial statements were authorised for issue by the director on 29 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Flying School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% reducing balance

Plant and machinery

20% reducing balance

Aircraft

6% reducing balance

Amortisation

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

The Flying School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 4).

 

The Flying School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Plant and machinery
£

Office equipment
£

Aircraft
 £

Total
£

Cost or valuation

At 1 April 2024

1,850

850

155,000

157,700

Additions

-

-

14,735

14,735

At 31 March 2025

1,850

850

169,735

172,435

Depreciation

At 1 April 2024

1,850

850

18,042

20,742

Charge for the year

-

-

8,809

8,809

At 31 March 2025

1,850

850

26,851

29,551

Carrying amount

At 31 March 2025

-

-

142,884

142,884

At 31 March 2024

-

-

136,958

136,958

5

Debtors

Current

2025
£

2024
£

Prepayments

6,052

8,901

 

6,052

8,901

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

5,040

4,950

Trade creditors

 

4,179

11,958

Taxation and social security

 

1,030

5,393

Accruals and deferred income

 

4,282

1,550

Other creditors

 

13,229

9,625

 

27,760

33,476

 

The Flying School Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

76,707

80,991

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

807

5,991

Other borrowings

75,900

75,000

76,707

80,991

Current loans and borrowings

2025
£

2024
£

Bank borrowings

5,040

4,950