Warbird Experiences Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02415708 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Warbird Experiences Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Monk

Mrs L S Monk

A C Monk

A N Monk

L T Monk

REGISTERED OFFICE:

Hangar 528

Biggin Hill Airport

Nr Westerham

Kent

TN16 3BN

REGISTERED NUMBER:

02415708 (England and Wales)

ACCOUNTANTS:

Berry & Company

Chartered Accountants

Sterling House

7 Ashford Road

Maidstone

Kent

ME14 5BJ

FIXED ASSETS

Tangible assets

4

18,010,446

15,959,105

CURRENT ASSETS

Stocks

229,881

49,950

Debtors

5

2,455,804

2,127,775

Cash at bank and in hand

969,027

658,202

3,654,712

2,835,927

CREDITORS

Amounts falling due within one year

6

6,334,863

3,807,643

NET CURRENT LIABILITIES

(2,680,151

)

(971,716

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

15,330,295

14,987,389

PROVISIONS FOR LIABILITIES

3,189,911

NET ASSETS

12,140,384

11,797,478

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

7

5,260,375

Retained earnings

7

6,879,909

6,537,003

12,140,384

11,797,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

P R Monk - Director

1.	STATUTORY INFORMATION

Warbird Experiences Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 historical cost convention as modified by the revaluation of certain assets.

Income recognition

Turnover represents the fair value of consideration received or receivable derived from the rendering of heritage flight experiences to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on 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.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

Aircraft

fittings

£

COST OR VALUATION

At 1 January 2024

854,260

15,000,000

8,883

Additions

-

2,077,194

-

At 31 December 2024

854,260

17,077,194

8,883

DEPRECIATION

At 1 January 2024

-

5,303

Charge for year

-

537

At 31 December 2024

-

5,840

NET BOOK VALUE

At 31 December 2024

854,260

17,077,194

3,043

At 31 December 2023

854,260

15,000,000

3,580

Motor

Computer

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 January 2024

211,945

62,853

16,137,941

Additions

-

2,077,194

At 31 December 2024

211,945

62,853

18,215,135

DEPRECIATION

At 1 January 2024

110,680

62,853

178,836

Charge for year

25,316

-

25,853

At 31 December 2024

135,996

62,853

204,689

NET BOOK VALUE

At 31 December 2024

75,949

-

18,010,446

At 31 December 2023

101,265

-

15,959,105

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

and

property

Aircraft

fittings

£

Valuation in 2024

-

17,077,194

-

Cost

854,260

-

8,883

854,260

17,077,194

8,883

Motor

Computer

vehicles

equipment

Totals

£

Valuation in 2024

-

17,077,194

Cost

211,945

62,853

1,137,941

211,945

62,853

18,215,135

If aircraft had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

12,414,624

Aggregate depreciation

4,428,457

Aircraft were valued on an open market basis on 31 December 2023 by the Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

128,863

144,521

Other debtors

2,326,941

1,983,254

2,455,804

2,127,775

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1,128,962

286,823

Amounts owed to group undertakings

253,550

-

Taxation and social security

33,671

20,580

Other creditors

4,918,680

3,500,240

6,334,863

3,807,643

7.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 January 2024

6,537,003

5,260,375

11,797,378

Profit for the year

342,906

At 31 December 2024

6,879,909

5,260,375

12,140,284

8.	RELATED PARTY DISCLOSURES

Included within Other debtors is the amount of £855,333 owed by Peter Monk Ltd (06910495), and the amount of £625,469 owed by Downlock Ltd (09371307), companies registered in England and Wales which are owned and controlled by the director, Mr P Monk who has stated that these amounts are free of interest and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P R Monk.