THREE COUNTIES FLYING SCHOOL C.I.C.

Company limited by guarantee

Company Registration Number:
15159045 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 23 September 2023

End date: 28 February 2025

THREE COUNTIES FLYING SCHOOL C.I.C.

Contents of the Financial Statements

for the Period Ended 28 February 2025

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THREE COUNTIES FLYING SCHOOL C.I.C.

Profit And Loss Account

for the Period Ended 28 February 2025

17 months to 28 February 2025


£
Turnover: 251,974
Cost of sales: ( 164,995 )
Gross profit(or loss): 86,979
Administrative expenses: ( 79,175 )
Operating profit(or loss): 7,804
Profit(or loss) before tax: 7,804
Tax: ( 1,117 )
Profit(or loss) for the financial year: 6,687

THREE COUNTIES FLYING SCHOOL C.I.C.

Balance sheet

As at 28 February 2025

Notes 17 months to 28 February 2025


£
Fixed assets
Tangible assets: 3 1,924
Total fixed assets: 1,924
Current assets
Debtors: 4 21,501
Cash at bank and in hand: 29,295
Total current assets: 50,796
Creditors: amounts falling due within one year: 5 ( 46,033 )
Net current assets (liabilities): 4,763
Total assets less current liabilities: 6,687
Total net assets (liabilities): 6,687
Members' funds
Profit and loss account: 6,687
Total members' funds: 6,687

The notes form part of these financial statements

THREE COUNTIES FLYING SCHOOL C.I.C.

Balance sheet statements

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

This report was approved by the board of directors on 23 June 2025
and signed on behalf of the board by:

Name: Christopher Kirk
Status: Director

The notes form part of these financial statements

THREE COUNTIES FLYING SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery - 25% reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

    Other accounting policies

    Financial instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

THREE COUNTIES FLYING SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees

    17 months to 28 February 2025
    Average number of employees during the period 2

THREE COUNTIES FLYING SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 2,304 2,304
Disposals
Revaluations
Transfers
At 28 February 2025 2,304 2,304
Depreciation
Charge for year 380 380
On disposals
Other adjustments
At 28 February 2025 380 380
Net book value
At 28 February 2025 1,924 1,924

THREE COUNTIES FLYING SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Debtors

17 months to 28 February 2025
£
Trade debtors 1,300
Prepayments and accrued income 201
Other debtors 20,000
Total 21,501

THREE COUNTIES FLYING SCHOOL C.I.C.

Notes to the Financial Statements

for the Period Ended 28 February 2025

5. Creditors: amounts falling due within one year note

17 months to 28 February 2025
£
Taxation and social security 1,117
Other creditors 44,916
Total 46,033

COMMUNITY INTEREST ANNUAL REPORT

THREE COUNTIES FLYING SCHOOL C.I.C.

Company Number: 15159045 (England and Wales)

Year Ending: 28 February 2025

Company activities and impact

The company runs a small flying school. During the year the business helped benefit the community by teaching people to fly.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

During the period the following salaries were paid to directors: Michael Power £21,400 Chris Kirk £22,000

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
23 June 2025

And signed on behalf of the board by:
Name: Michael Power
Status: Director