Registration number: 01696535

Mendip Gliding Club Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Mendip Gliding Club Limited

Company Information

Directors

D A Close E J Lacey R Baker

Company secretary

E J Lacey

Registered office

Halesfield Airfield Priddy Wells Somerset BA5 3BX

Accountants

Burton Sweet Limited Chartered Accountants & Business Advisers Cooper House Lower Charlton Estate Shepton Mallet Somerset BA4 5QE

Mendip Gliding Club Limited

(Registration number: 01696535)
Balance Sheet
28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	95,085	102,772
Current assets
Debtors	5	6,115	3,363
Cash at bank and in hand		39,458	24,952
		45,573	28,315
Creditors: Amounts falling due within one year	6	(7,191)	(7,760)
Net current assets		38,382	20,555
Total assets less current liabilities		133,467	123,327
Creditors: Amounts falling due after more than one year	6	(11,466)	(17,868)
Net assets		122,001	105,459
Reserves
Revaluation reserve		67,966	67,966
Retained earnings		54,035	37,493
Surplus		122,001	105,459

Mendip Gliding Club Limited

(Registration number: 01696535)
Balance Sheet
28 February 2025

For the financial year ending 28 February 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 28 August 2025 and signed on its behalf by:
 

......................................... R Baker Director

Mendip Gliding Club Limited

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
Halesfield Airfield
Priddy
Wells
Somerset
BA5 3BX

These financial statements were authorised for issue by the Board on 28 August 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration receivable from the members of the club.

Mendip Gliding Club Limited

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

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
Buildings	Over 15 years
Gliders	10% over 7 years to 30% residual value
Ground equipment	10% per annum

Trade debtors

Trade debtors are amounts due from members outstanding at the year end.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Mendip Gliding Club Limited

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

4	Tangible assets

	Land and buildings £	Ground Equipment £	Gliders £	Total £
Cost or valuation
At 1 March 2024	36,618	99,265	140,684	276,567
Additions	-	-	5,909	5,909
Disposals	-	-	(17,600)	(17,600)
At 28 February 2025	36,618	99,265	128,993	264,876
Depreciation
At 1 March 2024	34,303	77,726	61,766	173,795
Charge for the year	386	3,810	-	4,196
Eliminated on disposal	-	-	(8,200)	(8,200)
At 28 February 2025	34,689	81,536	53,566	169,791
Carrying amount
At 28 February 2025	1,929	17,729	75,427	95,085
At 29 February 2024	2,315	21,539	78,918	102,772

5

Debtors

	2025 £	2024 £
Prepayments	6,115	3,363
	6,115	3,363

Mendip Gliding Club Limited

Notes to the Unaudited Financial Statements
Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	6,183	6,182
Accruals and deferred income	1,008	1,578
	7,191	7,760

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Loans and borrowings	11,466	17,868