Company registration number: 08268680
Unaudited financial statements
for the year ended 31 October 2024
for
British Aerobatic Academy Limited
Pages for filing with the Registrar
Company registration number: 08268680
British Aerobatic Academy Limited
Balance sheet
as at 31 October 2024
31 Oct 24 31 Oct 23
Note £ £ £ £
Fixed assets
Tangible assets 4 146,525 157,570
146,525 157,570
Current assets
Stocks - 14,000
Debtors 6,355 4,788
Cash at bank and in hand 19,935 1,964
26,290 20,752
Creditors: amounts falling due within one
year
(193,371) (208,768)
Net current liabilities (167,081) (188,016)
Total assets less current liabilities (20,556) (30,446)
NET LIABILITIES (20,556) (30,446)
Capital and reserves
Called up share capital 100 100
Profit and loss account (20,656) (30,546)
TOTAL EQUITY (20,556) (30,446)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 October 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 08268680
British Aerobatic Academy Limited
Balance sheet - continued
as at 31 October 2024
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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr A Willis, Director
20 July 2025
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British Aerobatic Academy Limited
Notes to the financial statements
for the year ended 31 October 2024
1 Company information
British Aerobatic Academy Limited is a private company registered in England and Wales. Its registered number is 08268680. The company is limited by shares. Its registered office is The Hangar, Fowlmere Airfield, Royston, Hertfordshire, SG8 7SH.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 5% straight line
Fixtures & fittings - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3 Average number of employees
During the year the average number of employees was 2 (2023 - 2).
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British Aerobatic Academy Limited
Notes to the financial statements - continued
for the year ended 31 October 2024
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 November 2023 216,448
At 31 October 2024 216,448
Depreciation
At 1 November 2023 58,878
Charge for year 11,045
At 31 October 2024 69,923
Net book value
At 31 October 2024 146,525
At 31 October 2023 157,570
If Plant and machinery had not been revalued, Net Book Value would have been included at the following historical cost:
31 Oct 24 31 Oct 23
£ £
Cost 216,448 216,448
Accumulated depreciation 58,878 58,878
5 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the periods ended 31 October 2024 and 31 October 2023.
31 Oct 24 31 Oct 23
£ £
A Willis
Balance outstanding at start of year 186,771 205,937
Amounts advanced 6,355 -
Amounts repaid - (19,166)
Balance outstanding at end of year 193,126 186,771
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