Boultbee Flight Academy Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07623458

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		3,495,040		3,344,150

			3,495,040		3,344,150
CURRENT ASSETS
Stocks	5	17,992		7,226
Debtors	6	949,957		1,041,103
Cash at bank and in hand		825,071		514,478

		1,793,020		1,562,807
Creditors: Amounts Falling Due Within One Year	7	(1,735,716 )		(1,499,413 )

NET CURRENT ASSETS (LIABILITIES)			57,304		63,394

TOTAL ASSETS LESS CURRENT LIABILITIES			3,552,344		3,407,544

Creditors: Amounts Falling Due After More Than One Year	8		(1,098,149 )		(1,236,683 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(487,185 )		(424,788 )

NET ASSETS			1,967,010		1,746,073

CAPITAL AND RESERVES
Called up share capital			50		50
Profit and Loss Account			1,966,960		1,746,023

SHAREHOLDERS' FUNDS			1,967,010		1,746,073

Page 1

Page 2

Boultbee Flight Academy Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr M A Jones

Director

30th September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Boultbee Flight Academy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07623458 . The registered office is Hanger 8, Goodwood Aerodrome, Chichester, West Sussex, PO18 0PH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Straight line over 5 years
Plant & Machinery	Depreciated at various rates
Motor Vehicles	Straight line over 5 years

2.4. Stocks and Work in Progress

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

2.5. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Page 3

Page 4

Boultbee Flight Academy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

2.9. Change in Classification of an asset

During the year, the company has changed its accounting policy in relation to the classification of engine assets. Previously, engines were recognised as depreciating assets within property, plant and equipment. Following a review, engines are now classified as non-depreciating assets, as it is considered that this treatment provides a more accurate reflection of the engines’ economic substance and useful life, thereby presenting a true and fair view of the company’s financial position.

2.10. Re-allocation of costs

During the year, certain costs previously classified under administrative expenses were re-allocated to cost of sales to better reflect their nature and direct relationship to revenue.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 11 (2023: 10)

4. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 January 2024	52,007	3,809,187	3,861,194
Additions	-	390,516	390,516
Disposals	-	(214,519 )	(214,519 )
Other	-	(656)	(656 )

As at 31 December 2024	52,007	3,984,528	4,036,535

Depreciation
As at 1 January 2024	52,007	465,037	517,044
Provided during the period	-	24,451	24,451

As at 31 December 2024	52,007	489,488	541,495

Net Book Value
As at 31 December 2024	-	3,495,040	3,495,040

As at 1 January 2024	-	3,344,150	3,344,150

The adjustment in "Other" is correction to prior year opening balance.

5. Stocks

	2024	2023
	£	£
Finished goods	17,992	7,226

Page 4

Page 5

Boultbee Flight Academy Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	60,330	169,515
Other debtors	889,627	871,588

	949,957	1,041,103

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	399,629	70,369
Other creditors	1,250,813	1,393,893
Taxation and social security	85,274	35,151

	1,735,716	1,499,413

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Other creditors	1,098,149	1,236,683

Included within bank loan is a balance due on a Close Brothers Loan of £1,236,896 (2023: £1,890,000) that is falling due after 12 months.

9. Related Party Transactions

Prior year a loan of £15,000 was made to I & A Developments Ltd, a compay owned by the parent of the Director. During the year, an additional loan of £15,000 was made to the same company, which was owned 100% by M A Jones in 2024. This brings the total outstanding loan balance to £30,000 (2023: £15,000). Both loans are unsecured and repayable on demand.

Page 5