REGISTERED NUMBER: 04182147 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Kemble Air Services 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

P Waite

Ms A M L Head

REGISTERED OFFICE:

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US

REGISTERED NUMBER:

04182147 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

195,092

205,691

195,092

205,691

CURRENT ASSETS

Stocks

54,976

42,812

Debtors

6

526,854

294,794

Cash at bank and in hand

254,214

747,783

836,044

1,085,389

CREDITORS

Amounts falling due within one year

7

796,515

1,275,941

NET CURRENT ASSETS/(LIABILITIES)

39,529

(190,552

)

TOTAL ASSETS LESS CURRENT LIABILITIES

234,621

15,139

PROVISIONS FOR LIABILITIES

44,766

51,423

NET ASSETS/(LIABILITIES)

189,855

(36,284

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

189,853

(36,286

)

189,855

(36,284

)

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

S G Nuttall - Director

1.	STATUTORY INFORMATION

Kemble Air Services 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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

-

2% on straight line basis

Air Traffic Equipment

-

15% on straight line basis

Motor vehicles

-

25% on straight line basis and 10% on straight line basis

Computer equipment

-

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.

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

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.

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.

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors of Kemble Airfield Estates Ltd have undertaken not to withdraw the amount owed during the period where the company's liabilities exceed its assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2024

and 31 December 2024

7,000

AMORTISATION

At 1 January 2024

and 31 December 2024

7,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Air

Plant and

Traffic

Motor

Computer

machinery

Equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

219,174

132,072

81,105

173,063

605,414

Additions

20,339

19,550

9,994

12,597

62,480

At 31 December 2024

239,513

151,622

91,099

185,660

667,894

DEPRECIATION

At 1 January 2024

87,068

100,631

70,253

141,771

399,723

Charge for year

37,847

14,119

8,324

12,789

73,079

At 31 December 2024

124,915

114,750

78,577

154,560

472,802

NET BOOK VALUE

At 31 December 2024

114,598

36,872

12,522

31,100

195,092

At 31 December 2023

132,106

31,441

10,852

31,292

205,691

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

172,181

220,196

Other debtors

274,750

-

Prepayments and accrued income

79,923

74,598

526,854

294,794

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,947

28,847

Amounts owed to group undertakings

467,008

880,681

Tax

75,520

74,570

Social security and other taxes

20,236

20,781

VAT

80,723

64,127

Other creditors

5,288

84,376

Accruals and deferred income

143,793

122,559

796,515

1,275,941

8.	CONTINGENCIES

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

9.	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, the parent company of the group.