6
01/12/2023
30/11/2024
2024-11-30
false
false
false
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false
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false
true
false
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true
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false
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true
true
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No description of principal activities is disclosed
2023-12-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
NI004971
2023-12-01
2024-11-30
NI004971
2024-11-30
NI004971
2023-11-30
NI004971
2022-12-01
2023-11-30
NI004971
2023-11-30
NI004971
2022-11-30
NI004971
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-12-01
2024-11-30
NI004971
core:LandBuildings
core:LongLeaseholdAssets
2023-12-01
2024-11-30
NI004971
core:PlantMachinery
2023-12-01
2024-11-30
NI004971
core:FurnitureFittingsToolsEquipment
2023-12-01
2024-11-30
NI004971
core:OnerousContractsExcludingVacantProperties
2023-12-01
2024-11-30
NI004971
bus:RegisteredOffice
2023-12-01
2024-11-30
NI004971
bus:LeadAgentIfApplicable
2023-12-01
2024-11-30
NI004971
bus:Director1
2023-12-01
2024-11-30
NI004971
bus:Director2
2023-12-01
2024-11-30
NI004971
bus:Director3
2023-12-01
2024-11-30
NI004971
bus:Director4
2023-12-01
2024-11-30
NI004971
bus:Director5
2023-12-01
2024-11-30
NI004971
bus:Director6
2023-12-01
2024-11-30
NI004971
bus:Director7
2023-12-01
2024-11-30
NI004971
bus:Director8
2023-12-01
2024-11-30
NI004971
bus:Director9
2023-12-01
2024-11-30
NI004971
bus:Director10
2023-12-01
2024-11-30
NI004971
bus:CompanySecretary1
2023-12-01
2024-11-30
NI004971
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-11-30
NI004971
core:LandBuildings
core:LongLeaseholdAssets
2023-11-30
NI004971
core:LandBuildings
core:ShortLeaseholdAssets
2023-11-30
NI004971
core:PlantMachinery
2023-11-30
NI004971
core:FurnitureFittingsToolsEquipment
2023-11-30
NI004971
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-11-30
NI004971
core:LandBuildings
core:LongLeaseholdAssets
2024-11-30
NI004971
core:LandBuildings
core:ShortLeaseholdAssets
2024-11-30
NI004971
core:PlantMachinery
2024-11-30
NI004971
core:FurnitureFittingsToolsEquipment
2024-11-30
NI004971
core:WithinOneYear
2024-11-30
NI004971
core:WithinOneYear
2023-11-30
NI004971
core:AfterOneYear
2024-11-30
NI004971
core:AfterOneYear
2023-11-30
NI004971
core:LandBuildings
core:ShortLeaseholdAssets
2023-12-01
2024-11-30
NI004971
core:RevaluationReserve
2024-11-30
NI004971
core:RevaluationReserve
2023-11-30
NI004971
core:RetainedEarningsAccumulatedLosses
2024-11-30
NI004971
core:RetainedEarningsAccumulatedLosses
2023-11-30
NI004971
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-11-30
NI004971
core:LandBuildings
core:LongLeaseholdAssets
2023-11-30
NI004971
core:LandBuildings
core:ShortLeaseholdAssets
2023-11-30
NI004971
core:PlantMachinery
2023-11-30
NI004971
core:FurnitureFittingsToolsEquipment
2023-11-30
NI004971
bus:SmallEntities
2023-12-01
2024-11-30
NI004971
bus:AuditExempt-NoAccountantsReport
2023-12-01
2024-11-30
NI004971
bus:SmallCompaniesRegimeForAccounts
2023-12-01
2024-11-30
NI004971
bus:CompanyLimitedByGuarantee
2023-12-01
2024-11-30
NI004971
bus:FullAccounts
2023-12-01
2024-11-30
NI004971
core:MotorVehicles
2023-12-01
2024-11-30
NI004971
core:CapitalReserve
2024-11-30
NI004971
core:Land
2023-12-01
2024-11-30
NI004971
core:Land
2023-11-30
NI004971
core:Land
2024-11-30
Company registration number:
NI004971
Ulster Flying Club (1961) Limited
Trading as
Ulster Flying Club (1961) Limited
Company limited by guarantee
Unaudited filleted financial statements
30 November 2024
Ulster Flying Club (1961) Limited
Company limited by guarantee
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Ulster Flying Club (1961) Limited
Company limited by guarantee
Directors and other information
|
|
|
|
Directors |
Leslie Corken |
|
|
Albert Harrison |
|
|
Bryan Kennedy |
|
|
Steven Kinnear |
|
|
Gerald McAlinden |
|
|
Peter McCloskey |
|
|
Mark McConville |
|
|
Amy McVeigh |
|
|
Colin O'Neill |
|
|
Sian Thornthwaite |
|
|
|
|
|
|
|
Secretary |
Lesley Ann Corken |
|
|
|
|
|
|
|
Company number |
NI004971 |
|
|
|
|
|
|
|
Registered office |
Ards Airport |
|
|
61 Portaferry Road |
|
|
Newtownards |
|
|
Co. Dowm |
|
|
BT323 8SG |
|
|
|
|
|
|
|
Business address |
Ards Airport |
|
|
61 Portaferry Road |
|
|
Newtownards |
|
|
Co. Down |
|
|
BT323 8SG |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
Danske Bank |
|
|
Donegall Square West |
|
|
Belfast |
|
|
Co. Antrim |
|
|
BT1 6JS |
|
|
|
|
|
|
|
Solicitors |
Stephen Scott & Co. Solicitors |
|
|
45 Court Street |
|
|
Newtownards |
|
|
Co. Down |
|
|
BT23 7NX |
|
|
|
Ulster Flying Club (1961) Limited
Company limited by guarantee
Statement of financial position
30 November 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
|
Tangible assets |
|
10 |
569,204 |
|
|
|
596,568 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
569,204 |
|
|
|
596,568 |
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
|
Stocks |
|
|
26,048 |
|
|
|
20,538 |
|
|
|
Debtors |
|
11 |
52,245 |
|
|
|
51,252 |
|
|
|
Cash at bank and in hand |
|
|
48,755 |
|
|
|
68,370 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
127,048 |
|
|
|
140,160 |
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
within one year |
|
12 |
(
107,933) |
|
|
|
(
206,230) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
Net current assets/(liabilities) |
|
|
|
|
19,115 |
|
|
|
(
66,070) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Total assets less current liabilities |
|
|
|
|
588,319 |
|
|
|
530,498 |
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
|
after more than one year |
|
13 |
|
|
(
23,623) |
|
|
|
(
113,968) |
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
67,364) |
|
|
|
(
53,753) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Net assets |
|
|
|
|
497,332 |
|
|
|
362,777 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
|
Revaluation reserve |
|
|
|
|
118,124 |
|
|
|
118,124 |
|
Capital Reserve RAF Hanger |
|
|
|
|
79,237 |
|
|
|
- |
|
Profit and loss account |
|
|
|
|
299,971 |
|
|
|
244,653 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
Members funds |
|
|
|
|
497,332 |
|
|
|
362,777 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 November 2024 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 May 2025
, and are signed on behalf of the board by:
Mark McConville
Director
Company registration number:
NI004971
Ulster Flying Club (1961) Limited
Company limited by guarantee
Notes to the financial statements
Year ended 30 November 2024
1.
General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Ulster Flying Club (1961) Limited, Ards Airport, 61 Portaferry Road, Newtownards, Co. Dowm, BT323 8SG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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:
|
|
|
|
|
|
Property |
- |
2 % |
straight line |
|
Aircraft Fuselage |
- |
3 % |
straight line |
|
Plant and machinery |
- |
20 % |
straight line |
|
Fixtures & Fittings |
- |
20 % |
straight line |
|
Aircraft Engines |
- |
Hours Flown |
|
|
Runway and Runway Lights |
- |
5 % |
straight line |
|
|
|
|
|
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Operating profit/loss
Operating profit/loss is stated after charging/(crediting):
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
49,412 |
34,673 |
|
(Gain)/loss on disposal of tangible assets |
|
|
(
119,709) |
3,307 |
|
Impairment of trade debtors |
|
|
2,410 |
- |
|
Operating lease rentals |
|
|
30,321 |
28,620 |
|
Fees payable for the audit of the financial statements |
|
|
2,500 |
8,500 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
5.
Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
|
|
|
2024 |
2023 |
|
Administrative staff |
|
6 |
6 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The aggregate payroll costs incurred during the year were:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Wages and salaries |
|
116,655 |
115,424 |
|
Social security costs |
|
4,937 |
4,516 |
|
Other pension costs |
|
2,007 |
2,961 |
|
|
|
_______ |
_______ |
|
|
|
123,599 |
122,901 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
6
).
7.
Other interest receivable and similar income
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank deposits |
|
- |
163 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Interest payable and similar expenses
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
|
4,058 |
1,366 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
9.
Profit/loss before taxation
Profit/loss before taxation is stated after charging/(crediting):
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
49,412 |
34,673 |
|
Fees payable for the audit of the financial statements |
|
|
2,500 |
8,500 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
10.
Tangible assets
|
|
Freehold property |
Fuselages |
Engines |
Plant and machinery |
Fixtures, fittings and equipment |
Runway & Lights |
Total |
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
£ |
|
|
Cost |
|
|
|
|
|
|
|
|
|
At 1 December 2023 |
424,417 |
644,613 |
98,095 |
76,441 |
72,060 |
364,572 |
1,680,198 |
|
|
Additions |
- |
65,795 |
31,119 |
- |
425 |
- |
97,339 |
|
|
Disposals |
- |
(
100,000) |
(
23,660) |
- |
- |
- |
(
123,660) |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 November 2024 |
424,417 |
610,408 |
105,554 |
76,441 |
72,485 |
364,572 |
1,653,877 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Depreciation |
|
|
|
|
|
|
|
|
|
At 1 December 2023 |
117,814 |
427,877 |
39,045 |
70,342 |
71,949 |
356,603 |
1,083,630 |
|
|
Charge for the year |
11,248 |
12,718 |
21,778 |
3,038 |
113 |
517 |
49,412 |
|
|
Disposals |
- |
(
40,409) |
(
7,960) |
- |
- |
- |
(
48,369) |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 November 2024 |
129,062 |
400,186 |
52,863 |
73,380 |
72,062 |
357,120 |
1,084,673 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
Carrying amount |
|
|
|
|
|
|
|
|
|
At 30 November 2024 |
295,355 |
210,222 |
52,691 |
3,061 |
423 |
7,452 |
569,204 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
At 30 November 2023 |
306,603 |
216,736 |
59,050 |
6,099 |
111 |
7,969 |
596,568 |
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
11.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
16,330 |
13,497 |
|
Prepaid Costs |
|
35,915 |
37,755 |
|
|
|
_______ |
_______ |
|
|
|
52,245 |
51,252 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
18,795 |
19,029 |
|
Trade creditors |
|
19,389 |
40,353 |
|
Social security and other taxes |
|
6,433 |
4,840 |
|
Deferred Income and Accrued Costs |
|
63,316 |
142,008 |
|
|
|
_______ |
_______ |
|
|
|
107,933 |
206,230 |
|
|
|
_______ |
_______ |
|
|
|
|
|
13.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
23,623 |
36,688 |
|
Deferred Income RAF Hanger |
|
- |
77,280 |
|
|
|
_______ |
_______ |
|
|
|
23,623 |
113,968 |
|
|
|
_______ |
_______ |
|
|
|
|
|
14.
Exceptional Items
The statement of comprehensive income includes £119,709 profit on the disposal of G-UFCI