Company registration number 03161242 (England and Wales)
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
99,261
87,602
Current assets
Inventories
96,000
111,000
Trade and other receivables
4
38,065
331,881
Cash and cash equivalents
572,698
399,930
706,763
842,811
Current liabilities
5
(18,637)
(114,262)
Net current assets
688,126
728,549
Total assets less current liabilities
787,387
816,151
Provisions for liabilities
(17,431)
(17,431)
Net assets
769,956
798,720
Equity
Called up share capital
600
600
Retained earnings
769,356
798,120
Total equity
769,956
798,720

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 October 2025 and are signed on its behalf by:
Mr William Chell
Director
Company registration number 03161242 (England and Wales)
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 March 2023
600
774,873
775,473
Year ended 29 February 2024:
Profit and total comprehensive income
-
301,069
301,069
Dividends
-
(277,822)
(277,822)
Balance at 29 February 2024
600
798,120
798,720
Year ended 28 February 2025:
Profit and total comprehensive income
-
162,456
162,456
Dividends
-
(191,220)
(191,220)
Balance at 28 February 2025
600
769,356
769,956
Difference - opening bal of PY less adjusted closing bal of PPY
600
(774,873)
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Chell Aircraft Spares and Equipment Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prince William House, 10 Lower Church Street, Ashby de la Zouch, Leicestershire, United Kingdom, LE65 1AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

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

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
20% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Inventories

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

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

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

CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.9

Loans from directors

Any loans from the directors to the company are interest free and repayable on demand.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
3
Property, plant and equipment
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2024
12,691
170,823
11,662
77,936
273,112
Additions
4,875
10,860
-
0
57,284
73,019
Disposals
-
0
-
0
-
0
(54,621)
(54,621)
At 28 February 2025
17,566
181,683
11,662
80,599
291,510
Depreciation and impairment
At 1 March 2024
11,277
126,491
10,943
36,799
185,510
Depreciation charged in the year
960
8,285
145
15,483
24,873
Eliminated in respect of disposals
-
0
-
0
-
0
(18,134)
(18,134)
At 28 February 2025
12,237
134,776
11,088
34,148
192,249
Carrying amount
At 28 February 2025
5,329
46,907
574
46,451
99,261
At 29 February 2024
1,414
44,332
719
41,137
87,602
4
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
23,979
311,589
Other receivables
1,058
9,747
Prepayments and accrued income
13,028
10,545
38,065
331,881
5
Current liabilities
2025
2024
£
£
Trade payables
3,859
2,101
Corporation tax
-
0
100,159
Other taxation and social security
2,257
2,362
Other payables
7,919
5,230
Accruals and deferred income
4,602
4,410
18,637
114,262
6
Operating lease commitments
As lessee

The company has operating lease commitments totalling £nil over the remaining period of the lease.

2025-02-28 2024-03-01 false false false 13 October 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr William Chell Mrs Brenda Chell Mr Mark Chell Mr William Chell 03161242 2024-03-01 2025-02-28 03161242 2025-02-28 03161242 2024-02-29 03161242 core:LeaseholdImprovements 2025-02-28 03161242 core:PlantMachinery 2025-02-28 03161242 core:FurnitureFittings 2025-02-28 03161242 core:MotorVehicles 2025-02-28 03161242 core:LeaseholdImprovements 2024-02-29 03161242 core:PlantMachinery 2024-02-29 03161242 core:FurnitureFittings 2024-02-29 03161242 core:MotorVehicles 2024-02-29 03161242 core:ShareCapital 2025-02-28 03161242 core:ShareCapital 2024-02-29 03161242 core:RetainedEarningsAccumulatedLosses 2025-02-28 03161242 core:RetainedEarningsAccumulatedLosses 2024-02-29 03161242 core:ShareCapital 2023-02-28 03161242 core:RetainedEarningsAccumulatedLosses 2023-02-28 03161242 bus:CompanySecretaryDirector1 2024-03-01 2025-02-28 03161242 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 03161242 2023-03-01 2024-02-29 03161242 core:RetainedEarningsAccumulatedLosses 2024-03-01 2025-02-28 03161242 core:LeaseholdImprovements 2024-03-01 2025-02-28 03161242 core:PlantMachinery 2024-03-01 2025-02-28 03161242 core:FurnitureFittings 2024-03-01 2025-02-28 03161242 core:MotorVehicles 2024-03-01 2025-02-28 03161242 core:LeaseholdImprovements 2024-02-29 03161242 core:PlantMachinery 2024-02-29 03161242 core:FurnitureFittings 2024-02-29 03161242 core:MotorVehicles 2024-02-29 03161242 2024-02-29 03161242 core:CurrentFinancialInstruments 2025-02-28 03161242 core:CurrentFinancialInstruments 2024-02-29 03161242 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 03161242 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 03161242 bus:FRS102 2024-03-01 2025-02-28 03161242 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 03161242 bus:Director1 2024-03-01 2025-02-28 03161242 bus:Director2 2024-03-01 2025-02-28 03161242 bus:Director3 2024-03-01 2025-02-28 03161242 bus:CompanySecretary1 2024-03-01 2025-02-28 03161242 bus:FullAccounts 2024-03-01 2025-02-28 xbrli:pure xbrli:shares iso4217:GBP