Bristol & Wessex Aeroplane Club Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04264415

Bristol & Wessex Aeroplane Club Limited

Filleted Unaudited Financial Statements

31 December 2024

Bristol & Wessex Aeroplane Club Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	4	19,553	19,553

Current assets

Debtors	5	17,197	17,197
Cash at bank and in hand		9,534	9,534
		--------	--------
		26,731	26,731

Creditors: amounts falling due within one year	6	16,969	16,969
		--------	--------
Net current assets		9,762	9,762
		--------	--------
Total assets less current liabilities		29,315	29,315
		--------	--------
Net assets		29,315	29,315
		--------	--------

Capital and reserves

Called up share capital	4	4
Profit and loss account	29,311	29,311
	--------	--------
Shareholders funds	29,315	29,315
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Bristol & Wessex Aeroplane Club Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr B C Bailey
Director

Company registration number: 04264415

Bristol & Wessex Aeroplane Club Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Belvedere House Silver Zone, Bristol International Airport, Bristol, BS48 3DP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Computer Equipment	-	33% straight line

	Aircrafts	-	10% straight line

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

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	User defined asset	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024 and 31 Dec 2024	6,250	10,114	27,250	6,078	25,500	75,192
	-------	--------	--------	-------	--------	--------
Depreciation
At 1 Jan 2024 and 31 Dec 2024	5,460	8,114	23,978	5,337	12,750	55,639
	-------	--------	--------	-------	--------	--------
Carrying amount
At 31 Dec 2024	790	2,000	3,272	741	12,750	19,553
	-------	--------	--------	-------	--------	--------
At 31 Dec 2023	790	2,000	3,272	741	12,750	19,553
	-------	--------	--------	-------	--------	--------

5. Debtors

	2024	2023
	£	£
Trade debtors	6,853	6,853
Other debtors	10,344	10,344
	--------	--------
	17,197	17,197
	--------	--------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,250	1,250
Social security and other taxes	910	910
Other creditors	14,809	14,809
	--------	--------
	16,969	16,969
	--------	--------