REGISTERED NUMBER: 04170595 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Flying Spares Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B C Handford

Mrs L K Handford

N J Arman

SECRETARY:

Mrs L K Handford

REGISTERED OFFICE:

Unit 28

Merrylees Industrial Estate

Leeside

Leicester

Leicestershire

LE9 9FS

REGISTERED NUMBER:

04170595 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Flying Spares Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Flying Spares Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Flying Spares Limited and state those matters that we have agreed to state to the Board of Directors of Flying Spares Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Flying Spares Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Flying Spares Limited. You consider that Flying Spares Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Flying Spares Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

22 September 2025

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,437,383

749,358

2,437,383

749,358

CURRENT ASSETS

Stocks

2,082,399

2,239,991

Debtors

6

682,637

777,124

Cash at bank and in hand

740,618

1,202,736

3,505,654

4,219,851

CREDITORS

Amounts falling due within one year

7

2,829,619

2,107,596

NET CURRENT ASSETS

676,035

2,112,255

TOTAL ASSETS LESS CURRENT LIABILITIES

3,113,418

2,861,613

PROVISIONS FOR LIABILITIES

37,260

16,419

NET ASSETS

3,076,158

2,845,194

CAPITAL AND RESERVES

Called up share capital

8

1,053

1,053

Retained earnings

3,075,105

2,844,141

SHAREHOLDERS' FUNDS

3,076,158

2,845,194

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 22 September 2025 and were signed on its behalf by:

B C Handford - Director

1.	STATUTORY INFORMATION

Flying Spares 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Employee benefit trusts

The company has established trusts for the benefit of employees and certain of their dependants. Monies held in these trusts are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of, the assets and liabilities of the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

Employer financed retirement benefit schemes

The company has established an employer financed retirement benefit scheme for the benefit of its officers, employees and their wider families, The Flying Spares Limited 2012 EFRBS ('the Scheme').

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

225,000

AMORTISATION

At 1 April 2024

and 31 March 2025

225,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

659,833

848,876

1,508,709

Additions

1,743,079

131,084

1,874,163

Disposals

-

(358,596

)

(358,596

)

At 31 March 2025

2,402,912

621,364

3,024,276

DEPRECIATION

At 1 April 2024

-

759,351

759,351

Charge for year

120,146

57,511

177,657

Eliminated on disposal

-

(350,115

)

(350,115

)

At 31 March 2025

120,146

466,747

586,893

NET BOOK VALUE

At 31 March 2025

2,282,766

154,617

2,437,383

At 31 March 2024

659,833

89,525

749,358

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

440,270

529,976

Other debtors

242,367

247,148

682,637

777,124

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

19

7,816

Trade creditors

1,293,398

1,499,281

Amounts owed to participating interests

-

28,000

Taxation and social security

187,024

453,483

Other creditors

1,349,178

119,016

2,829,619

2,107,596

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,053

Ordinary

£1

1,053

1,053

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Flying Spares Corporate TrusteesLimited.