REGISTERED NUMBER: 03736814 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Kemble Airfield Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S H Harvey

S G Nuttall

A G Moreman

REGISTERED OFFICE:

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US

REGISTERED NUMBER:

03736814 (England and Wales)

FIXED ASSETS

Tangible assets

4

19,457,041

19,542,915

Investments

5

28,002

28,002

19,485,043

19,570,917

CURRENT ASSETS

Debtors

6

1,330,530

1,352,184

Cash at bank and in hand

234,089

248,345

1,564,619

1,600,529

CREDITORS

Amounts falling due within one year

7

1,820,197

1,609,307

NET CURRENT LIABILITIES

(255,578

)

(8,778

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,229,465

19,562,139

CREDITORS

Amounts falling due after more than one year

8

(4,001,166

)

(4,463,051

)

PROVISIONS FOR LIABILITIES

(260,032

)

(278,812

)

NET ASSETS

14,968,267

14,820,276

CAPITAL AND RESERVES

Called up share capital

2

2

Capital redemption reserve

10,168,146

10,168,146

Retained earnings

4,800,119

4,652,128

14,968,267

14,820,276

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mrs S H Harvey - Director

1.	STATUTORY INFORMATION

Kemble Airfield Estates 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.

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

-

20% on reducing balance

Negus

-

20% on reducing balance

Motor vehicles

-

25% on straight line basis

Impairment of fixed assets

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.

For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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 as a finance cost 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 as a finance cost in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Negus

£

£

£

COST

At 1 January 2024

18,934,004

1,472,896

268,017

Additions

7,200

24,200

-

At 31 December 2024

18,941,204

1,497,096

268,017

DEPRECIATION

At 1 January 2024

-

1,143,991

124,358

Charge for year

-

70,621

28,732

At 31 December 2024

-

1,214,612

153,090

NET BOOK VALUE

At 31 December 2024

18,941,204

282,484

114,927

At 31 December 2023

18,934,004

328,905

143,659

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

8,750

225,420

20,909,087

Additions

-

4,603

36,003

At 31 December 2024

8,750

230,023

20,945,090

DEPRECIATION

At 1 January 2024

3,375

94,448

1,366,172

Charge for year

2,188

20,336

121,877

At 31 December 2024

5,563

114,784

1,488,049

NET BOOK VALUE

At 31 December 2024

3,187

115,239

19,457,041

At 31 December 2023

5,375

130,972

19,542,915

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

Other investments

28,002

28,002

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

276,358

79,528

Amounts owed to group undertak

977,666

1,146,193

Prepayments and accrued income

76,506

126,463

1,330,530

1,352,184

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

441,585

470,760

Trade creditors

346,162

417,549

Amounts owed to group undertakings

524,013

237,195

Tax

162,663

172,836

VAT

110,422

91,399

Other creditors

(29,099

)

26,285

Accruals and deferred income

264,451

193,283

1,820,197

1,609,307

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

4,001,166

4,463,051

9.	CONTINGENCIES

The company has given a cross guarantee in respect of the bank borrowings of Kemble Air Services Limited.

10.	CONTROLLING PARTY

The ultimate controlling party of the company throughout the current and previous year was Mr R Harvey by virtue of his 100% ownership of Cotswold Airport Holding Co Limited.