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Registration number: 03334466

Gloucester Jet Test Centre Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Gloucester Jet Test Centre Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gloucester Jet Test Centre Limited

Company Information

Directors

Mrs J A Wing

Mr F Mangan

Mr D P McEvaddy

Mr N A Scott-Gray

Registered office

Merlin House
Merlin Way
Manston
Kent
CT12 5FE

Accountants

Rotherham Taylor Limited 21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Gloucester Jet Test Centre Limited

(Registration number: 03334466)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

7,626

11,656

Current assets

 

Debtors

5

58,974

41,607

Cash at bank and in hand

 

56,334

29,941

 

115,308

71,548

Creditors: Amounts falling due within one year

6

(384,651)

(329,397)

Net current liabilities

 

(269,343)

(257,849)

Net liabilities

 

(261,717)

(246,193)

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

(281,717)

(266,193)

Shareholders' deficit

 

(261,717)

(246,193)

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.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mrs J A Wing
Director

   
     
 

Gloucester Jet Test Centre 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 and Wales.

The address of its registered office is:
Merlin House
Merlin Way
Manston
Kent
CT12 5FE

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 as the directors have confirmed they will continue to support the company in meeting its obligations for the foreseeable future.

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.

Revenue is recognised for services in the period in which the services are provided in accordance with the stage of completion of the contract. This is subject to the amount of revenue, costs incurred, future costs to complete and stage of completion can all be measure reliably; and it is probable that the company will receive the consideration.

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.

 

Gloucester Jet Test Centre 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

Fixtures and fittings

Straight line 5 years

Plant and machinery

Straight line 10 years

Jet engine beds

Straight line 10 years

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.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Gloucester Jet Test Centre Limited

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

Financial instruments

The company only enters into basic financial instruments 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 non-puttable 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 profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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 settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 6).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Jet engine beds
£

Total
£

Cost or valuation

At 1 April 2024

16,620

28,720

177,688

223,028

Disposals

(6,731)

(4,558)

-

(11,289)

At 31 March 2025

9,889

24,162

177,688

211,739

Depreciation

At 1 April 2024

10,827

22,857

177,688

211,372

Charge for the year

1,978

1,597

-

3,575

Eliminated on disposal

(6,380)

(4,454)

-

(10,834)

At 31 March 2025

6,425

20,000

177,688

204,113

Carrying amount

At 31 March 2025

3,464

4,162

-

7,626

At 31 March 2024

5,793

5,863

-

11,656

5

Debtors

2025
£

2024
£

Trade debtors

43,455

31,172

Prepayments

10,298

300

Other debtors

5,221

10,135

 

58,974

41,607

 

Gloucester Jet Test Centre Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

310,034

277,034

Trade creditors

 

51,214

24,103

Taxation and social security

 

14,189

12,609

Accruals and deferred income

 

8,555

14,485

Other creditors

 

659

1,166

 

384,651

329,397

7

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Directors' loan account and other loans

310,034

277,034

The directors' loan accounts and other loans are non-interest bearing and have no formal repayments terms.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total future minimum lease payments under non-cancellable operating leases are £680,000 (2024 -£720,000).

Contingencies

Litigation that commenced in a previous period for the recovery of a material amount of funds which have been misappropriated over a number of years, is ongoing. At the date of approval of these financial statements it is not possible to quantify the amounts in question with accuracy and the taxation impacts thereof.