IRIS Accounts Production v25.1.4.42 00718074 Board of Directors 1.4.24 31.3.25 31.3.25 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh007180742024-03-31007180742025-03-31007180742024-04-012025-03-31007180742023-03-31007180742023-04-012024-03-31007180742024-03-3100718074ns15:EnglandWales2024-04-012025-03-3100718074ns14:PoundSterling2024-04-012025-03-3100718074ns10:Director12024-04-012025-03-3100718074ns10:CompanyLimitedByGuarantee2024-04-012025-03-3100718074ns10:SmallEntities2024-04-012025-03-3100718074ns10:AuditExemptWithAccountantsReport2024-04-012025-03-3100718074ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3100718074ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3100718074ns10:FullAccounts2024-04-012025-03-3100718074ns10:Director22024-04-012025-03-3100718074ns10:Director32024-04-012025-03-3100718074ns10:Director42024-04-012025-03-3100718074ns10:CompanySecretary12024-04-012025-03-3100718074ns10:RegisteredOffice2024-04-012025-03-3100718074ns5:CurrentFinancialInstruments2025-03-3100718074ns5:CurrentFinancialInstruments2024-03-3100718074ns5:RetainedEarningsAccumulatedLosses2025-03-3100718074ns5:RetainedEarningsAccumulatedLosses2024-03-3100718074ns5:LandBuildingsns5:ShortLeaseholdAssets2024-04-012025-03-3100718074ns5:PlantMachinery2024-04-012025-03-3100718074ns5:FurnitureFittings2024-04-012025-03-3100718074ns5:ComputerEquipment2024-04-012025-03-3100718074ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3100718074ns5:PlantMachinery2024-03-3100718074ns5:FurnitureFittings2024-03-3100718074ns5:ComputerEquipment2024-03-3100718074ns5:LandBuildingsns5:ShortLeaseholdAssets2025-03-3100718074ns5:PlantMachinery2025-03-3100718074ns5:FurnitureFittings2025-03-3100718074ns5:ComputerEquipment2025-03-3100718074ns5:LandBuildingsns5:ShortLeaseholdAssets2024-03-3100718074ns5:PlantMachinery2024-03-3100718074ns5:FurnitureFittings2024-03-3100718074ns5:ComputerEquipment2024-03-3100718074ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3100718074ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31
REGISTERED NUMBER: 00718074 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Lincoln Aero Club Limited

Lincoln Aero Club Limited (Registered number: 00718074)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Lincoln Aero Club Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: M Applewhite
M Harness
G C Dooley
TJ Dorian





SECRETARY: G C Dooley





REGISTERED OFFICE: The Club House
Sturgate Airport
Heapham
Gainsborough
Lincolnshire
DN21 5PA





REGISTERED NUMBER: 00718074 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lincoln Aero Club 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 Lincoln Aero Club Limited for the year ended 31 March 2025 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 Lincoln Aero Club Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lincoln Aero Club Limited and state those matters that we have agreed to state to the Board of Directors of Lincoln Aero Club 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 Lincoln Aero Club Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lincoln Aero Club 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 loss of Lincoln Aero Club Limited. You consider that Lincoln Aero Club 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 Lincoln Aero Club 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


24 June 2025

Lincoln Aero Club Limited (Registered number: 00718074)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,205 75,573

CURRENT ASSETS
Debtors 5 8,990 4,822
Cash at bank and in hand 11,168 7,110
20,158 11,932
CREDITORS
Amounts falling due within one year 6 58,653 34,278
NET CURRENT LIABILITIES (38,495 ) (22,346 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,710

53,227

RESERVES
Income and expenditure account 25,710 53,227
25,710 53,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 surplus or deficit 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





M Harness - Director


Lincoln Aero Club Limited (Registered number: 00718074)

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

1. STATUTORY INFORMATION

Lincoln Aero Club Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.
Short leasehold - 10% on reducing balance
Aircraft - 10% on cost
Fixtures, fittings and equipment - 20% on reducing balance
Computer equipment - 20% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Short and Computer
leasehold Aircraft equipment equipment Totals
£    £    £    £    £   
COST
At 1 April 2024
and 31 March 2025 122,405 102,500 47,142 292 272,339
DEPRECIATION
At 1 April 2024 113,031 37,208 46,235 292 196,766
Charge for year 937 10,250 181 - 11,368
At 31 March 2025 113,968 47,458 46,416 292 208,134
NET BOOK VALUE
At 31 March 2025 8,437 55,042 726 - 64,205
At 31 March 2024 9,374 65,292 907 - 75,573

Lincoln Aero Club Limited (Registered number: 00718074)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors - 375
Other debtors 8,990 4,447
8,990 4,822

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 15,134 744
Taxation and social security 63 39
Other creditors 43,456 33,495
58,653 34,278