0 0 Penzance Heliport Limited 08169487 false 2023-01-01 2024-04-30 2024-04-30 The principal activity of the company is service activities incidental to air transportation. Digita Accounts Production Advanced 6.30.9574.0 true false true 08169487 2023-01-01 2024-04-30 08169487 2024-04-30 08169487 bus:OrdinaryShareClass1 2024-04-30 08169487 bus:Consolidated 2024-04-30 08169487 core:RetainedEarningsAccumulatedLosses 2024-04-30 08169487 core:ShareCapital 2024-04-30 08169487 core:CurrentFinancialInstruments 2024-04-30 08169487 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 08169487 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 08169487 core:LandBuildings 2024-04-30 08169487 core:MotorVehicles 2024-04-30 08169487 core:OtherPropertyPlantEquipment 2024-04-30 08169487 bus:SmallEntities 2023-01-01 2024-04-30 08169487 bus:Audited 2023-01-01 2024-04-30 08169487 bus:FilletedAccounts 2023-01-01 2024-04-30 08169487 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2024-04-30 08169487 bus:RegisteredOffice 2023-01-01 2024-04-30 08169487 bus:Director2 2023-01-01 2024-04-30 08169487 bus:OrdinaryShareClass1 2023-01-01 2024-04-30 08169487 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-04-30 08169487 core:LandBuildings 2023-01-01 2024-04-30 08169487 core:LeaseholdImprovements 2023-01-01 2024-04-30 08169487 core:MotorVehicles 2023-01-01 2024-04-30 08169487 core:OtherPropertyPlantEquipment 2023-01-01 2024-04-30 08169487 core:PlantMachinery 2023-01-01 2024-04-30 08169487 core:Vehicles 2023-01-01 2024-04-30 08169487 1 2023-01-01 2024-04-30 08169487 countries:AllCountries 2023-01-01 2024-04-30 08169487 countries:EnglandWales 2023-01-01 2024-04-30 08169487 2022-12-31 08169487 core:LandBuildings 2022-12-31 08169487 core:MotorVehicles 2022-12-31 08169487 core:OtherPropertyPlantEquipment 2022-12-31 08169487 2022-01-01 2022-12-31 08169487 2022-12-31 08169487 bus:OrdinaryShareClass1 2022-12-31 08169487 core:RetainedEarningsAccumulatedLosses 2022-12-31 08169487 core:ShareCapital 2022-12-31 08169487 core:CurrentFinancialInstruments 2022-12-31 08169487 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08169487 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 08169487 core:LandBuildings 2022-12-31 08169487 core:MotorVehicles 2022-12-31 08169487 core:OtherPropertyPlantEquipment 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares

Penzance Heliport Limited

Annual Report and Financial Statements
Period from 1 January 2023 to 30 April 2024

Registration number: 08169487

 

Penzance Heliport Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Penzance Heliport Limited

Balance Sheet

30 April 2024

Note

2024
£

Unaudited
2022
£

Fixed assets

 

Tangible assets

4

4,380,044

4,539,185

Current assets

 

Debtors

5

86,266

4,825

Cash at bank and in hand

 

45,657

1,747

 

131,923

6,572

Creditors: Amounts falling due within one year

6

(5,049,686)

(174,488)

Net current liabilities

 

(4,917,763)

(167,916)

Total assets less current liabilities

 

(537,719)

4,371,269

Creditors: Amounts falling due after more than one year

6

(1,495,906)

(6,089,102)

Net liabilities

 

(2,033,625)

(1,717,833)

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

(2,033,626)

(1,717,834)

Shareholders' deficit

 

(2,033,625)

(1,717,833)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 11 July 2025 and signed on its behalf by:
 

.........................................
Michael Dorrien-Smith
Director

Company Registration Number: 08169487

 

Penzance Heliport Limited

Notes to the Financial Statements

Period from 1 January 2023 to 30 April 2024

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:
Peat House
Newham Road
Truro
Cornwall
TR1 2DP

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

These financial statements have been prepared on a going concern basis. The directors acknowledge the net current liability position as at the year end of £4,917,763 (2022 - £167,916). This is as a result of intercompany debt and the directors have satisfied themselves on the validity of applying the going concern basis of preparation as assurances have been given by its parent company, Tresco island Limited, that the amount owed to them will not be called upon for repayment should it impact the going concern of the company and that it will continue to provide financial support should it be required.

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

 

Penzance Heliport Limited

Notes to the Financial Statements

Period from 1 January 2023 to 30 April 2024

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.

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

Leasehold impovements

Over the term of the lease

Plant and machinery

25% straightline

Motor vehicles

25% straightline

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2022 - 0).

 

Penzance Heliport Limited

Notes to the Financial Statements

Period from 1 January 2023 to 30 April 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

4,711,511

128,242

174,374

5,014,127

Additions

26,612

-

-

26,612

At 30 April 2024

4,738,123

128,242

174,374

5,040,739

Depreciation

At 1 January 2023

247,977

96,183

130,782

474,942

Charge for the period

110,103

32,058

43,592

185,753

At 30 April 2024

358,080

128,241

174,374

660,695

Carrying amount

At 30 April 2024

4,380,043

1

-

4,380,044

At 31 December 2022

4,463,534

32,059

43,592

4,539,185

Included within the net book value of land and buildings above is £4,380,043 (2022 - £4,463,534) in respect of long leasehold land and buildings.
 

5

Debtors

2024
£

Unaudited
2022
£

Prepayments and accrued income

80,864

3,122

Other debtors

5,402

1,703

86,266

4,825

6

Creditors

Note

2024
£

Unaudited
2022
£

Due within one year

 

Trade creditors

 

8,568

-

Amounts owed to group undertakings

9

4,959,360

-

Accruals and deferred income

 

81,758

174,488

 

5,049,686

174,488

 

Penzance Heliport Limited

Notes to the Financial Statements

Period from 1 January 2023 to 30 April 2024

2024
£

Unaudited
2022
£

Due after one year

Deferred income

1,495,906

1,539,904

Other creditors

-

4,549,198

1,495,906

6,089,102

7

Share capital

Allotted, called up and fully paid shares

2024

Unaudited
2022

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

       

During the year, Tresco Island Limited acquired the share capital of the company.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £954,833 (2022 - £971,833). Financial commitments not included in the balance sheet is made up of operating leases.

9

Related party transactions

The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.

10

Relationship between entity and parents

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Tresco Island Limited, incorporated in England & Wales.

The address of Tresco Island Limited is:
Peat House
Newham Road
Truro
Cornwall
TR1 2DP

 

Penzance Heliport Limited

Notes to the Financial Statements

Period from 1 January 2023 to 30 April 2024

11

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was James Barrett, who signed for and on behalf of PKF Francis Clark on 11 July 2025.