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Registered number: 4056458
Classic Flying Machine Collection Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Graver & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4056458
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,198 3,894
2,198 3,894
CURRENT ASSETS
Stocks 5 5,000 42,000
Cash at bank and in hand 3,744 25,195
8,744 67,195
Creditors: Amounts Falling Due Within One Year 6 (1,036 ) (1,350 )
NET CURRENT ASSETS (LIABILITIES) 7,708 65,845
TOTAL ASSETS LESS CURRENT LIABILITIES 9,906 69,739
Creditors: Amounts Falling Due After More Than One Year 7 (143,256 ) (238,835 )
NET LIABILITIES (133,350 ) (169,096 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (133,351 ) (169,097 )
SHAREHOLDERS' FUNDS (133,350) (169,096)
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Earthey
Director
16th May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Classic Flying Machine Collection Limited is a private company, limited by shares, incorporated in England & Wales, registered number 4056458 . The registered office is 2 Station Road, Brundall, Norwich, NR13 5LA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis which may not be appropriate as at the Balance Sheet date the liabilities exceeded the assets by £133,350 (£169,096 - 2023). The company meets it's day to day working capital requirements through a loan provided by Iceni International Limited which is a related company. In light of this ongoing support the Director believes that it is appropriate to prepare the accounts on a going concern basis which assumes the company will continue in operational existence for the forseeable future.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. All income is derived from activities within the UK.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Aircraft 25% reducing balance
Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
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4. Tangible Assets
Aircraft Equipment Total
£ £ £
Cost
As at 1 September 2023 87,917 23,817 111,734
Additions 6,448 - 6,448
Disposals (85,370 ) - (85,370 )
As at 31 August 2024 8,995 23,817 32,812
Depreciation
As at 1 September 2023 86,152 21,688 107,840
Provided during the period 200 532 732
Disposals (77,958 ) - (77,958 )
As at 31 August 2024 8,394 22,220 30,614
Net Book Value
As at 31 August 2024 601 1,597 2,198
As at 1 September 2023 1,765 2,129 3,894
5. Stocks
2024 2023
£ £
Materials 5,000 42,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,036 1,350
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 133,150 228,629
Directors loan account 10,106 10,206
143,256 238,835
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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9. Related Party Transactions
Iceni International LimitedP Earthey is a Director of Iceni International Limited

Iceni International Limited

P Earthey is a Director of Iceni International Limited

Iceni International LtdP Earthey is a Director of Iceni International Ltd

Iceni International Ltd

P Earthey is a Director of Iceni International Ltd

There is a loan of £128,291.59(£228,629 - 2023) on the Balance Sheet under current liabilities owed to Iceni International Limited. The Director is also sole director of this company.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr Philip Earthey by virtue of his ownership of 100% of the issued share capital in the company.
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