IRIS Accounts Production v25.2.0.378 03018177 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 false true false false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03018177 2024-03-31 03018177 2025-03-31 03018177 2024-04-01 2025-03-31 03018177 2023-03-31 03018177 2023-04-01 2024-03-31 03018177 2024-03-31 03018177 ns15:EnglandWales 2024-04-01 2025-03-31 03018177 ns14:PoundSterling 2024-04-01 2025-03-31 03018177 ns10:Director1 2024-04-01 2025-03-31 03018177 ns10:Director2 2024-04-01 2025-03-31 03018177 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03018177 ns10:SmallEntities 2024-04-01 2025-03-31 03018177 ns10:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 03018177 ns10:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 03018177 ns10:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03018177 ns10:FullAccounts 2024-04-01 2025-03-31 03018177 1 2024-04-01 2025-03-31 03018177 ns10:Director3 2024-04-01 2025-03-31 03018177 ns10:CompanySecretary1 2024-04-01 2025-03-31 03018177 ns10:RegisteredOffice 2024-04-01 2025-03-31 03018177 ns5:CurrentFinancialInstruments 2025-03-31 03018177 ns5:CurrentFinancialInstruments 2024-03-31 03018177 ns5:Non-currentFinancialInstruments 2025-03-31 03018177 ns5:Non-currentFinancialInstruments 2024-03-31 03018177 ns5:ShareCapital 2025-03-31 03018177 ns5:ShareCapital 2024-03-31 03018177 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 03018177 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03018177 ns5:NetGoodwill 2024-04-01 2025-03-31 03018177 ns5:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 03018177 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-04-01 2025-03-31 03018177 ns5:PlantMachinery 2024-04-01 2025-03-31 03018177 ns5:FurnitureFittings 2024-04-01 2025-03-31 03018177 ns5:MotorVehicles 2024-04-01 2025-03-31 03018177 ns5:ComputerEquipment 2024-04-01 2025-03-31 03018177 ns5:NetGoodwill 2024-03-31 03018177 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 03018177 ns5:NetGoodwill 2025-03-31 03018177 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 03018177 ns5:NetGoodwill 2024-03-31 03018177 ns5:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 03018177 ns5:PlantMachinery 2024-03-31 03018177 ns5:FurnitureFittings 2024-03-31 03018177 ns5:MotorVehicles 2024-03-31 03018177 ns5:ComputerEquipment 2024-03-31 03018177 ns5:PlantMachinery 2025-03-31 03018177 ns5:FurnitureFittings 2025-03-31 03018177 ns5:MotorVehicles 2025-03-31 03018177 ns5:ComputerEquipment 2025-03-31 03018177 ns5:PlantMachinery 2024-03-31 03018177 ns5:FurnitureFittings 2024-03-31 03018177 ns5:MotorVehicles 2024-03-31 03018177 ns5:ComputerEquipment 2024-03-31 03018177 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 03018177 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 03018177 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-03-31 03018177 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-03-31 03018177 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2025-03-31 03018177 ns5:MoreThanFiveYears ns5:Non-currentFinancialInstruments 2024-03-31 03018177 ns5:WithinOneYear 2025-03-31 03018177 ns5:WithinOneYear 2024-03-31 03018177 ns5:BetweenOneFiveYears 2025-03-31 03018177 ns5:BetweenOneFiveYears 2024-03-31 03018177 ns5:AllPeriods 2025-03-31 03018177 ns5:AllPeriods 2024-03-31

REGISTERED NUMBER: 03018177 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

FLYLIGHT AIRSPORTS LIMITED

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

FLYLIGHT AIRSPORTS LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

| DIRECTORS: | P M Dewhurst

| B H Ashman

| S N Bond

| SECRETARY: | P M Dewhurst

| REGISTERED OFFICE: | Sywell Aerodrome

| Sywell

| Northamptonshire

| NN6 0BT

| REGISTERED NUMBER: | 03018177 (England and Wales)

| ACCOUNTANTS: | Shaw Gibbs Limited

| Eagle House

| 28 Billing Road

| Northampton

| Northamptonshire

| NN1 5AJ

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 10,347 |  | 19,494 |  |

Tangible assets | 5 | 81,745 |  | 62,429 |  |

92,092 |  | 81,923 |  |

CURRENT ASSETS

Stocks | 190,321 |  | 232,634 |  |

Debtors | 6 | 139,129 |  | 117,573 |  |

Cash at bank and in hand | 184,498 |  | 266,008 |  |

513,948 |  | 616,215 |  |

CREDITORS

Amounts falling due within one year | 7 | 239,071 |  | 267,984 |  |

NET CURRENT ASSETS | 274,877 |  | 348,231 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 366,969 |  | 430,154 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (50,204 | ) | (65,649 | ) |

PROVISIONS FOR LIABILITIES | (12,598 | ) | (11,862 | ) |

NET ASSETS | 304,167 |  | 352,643 |  |

CAPITAL AND RESERVES

Called up share capital | 240 |  | 240 |  |

Retained earnings | 303,927 |  | 352,403 |  |

SHAREHOLDERS' FUNDS | 304,167 |  | 352,643 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

STATEMENT OF FINANCIAL POSITION - continued

31 MARCH 2025

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

P M Dewhurst - Director

B H Ashman - Director

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. | STATUTORY INFORMATION

| Flylight Airsports 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Significant judgements and estimates

| The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

| 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 ten years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Aircraft | - | 5% on reducing balance

| Computer equipment | - | 33% on cost

| Motor vehicles | - | 25% on cost

| Office equipment | - | 20% on cost

| Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

| Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| 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

| Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

2. | ACCOUNTING POLICIES - continued

| Government grants

| Government grant income is recognised as it is received.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 8 (2024 - 9 ) .

4. | INTANGIBLE FIXED ASSETS

| Patents |

| and |

| Goodwill |  | licences |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024

| and 31 March 2025 | 78,632 |  | 12,838 |  | 91,470 |  |

| AMORTISATION

| At 1 April 2024 | 62,906 |  | 9,070 |  | 71,976 |  |

| Amortisation for year | 7,863 |  | 1,284 |  | 9,147 |  |

| At 31 March 2025 | 70,769 |  | 10,354 |  | 81,123 |  |

| NET BOOK VALUE

| At 31 March 2025 | 7,863 |  | 2,484 |  | 10,347 |  |

| At 31 March 2024 | 15,726 |  | 3,768 |  | 19,494 |  |

5. | TANGIBLE FIXED ASSETS

| Computer |  | Motor |  | Office |

| Aircraft |  | equipment |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 75,432 |  | 9,465 |  | 13,372 |  | 17,640 |  | 115,909 |  |

| Additions | 24,647 |  | - |  | - |  | - |  | 24,647 |  |

| At 31 March 2025 | 100,079 |  | 9,465 |  | 13,372 |  | 17,640 |  | 140,556 |  |

| DEPRECIATION

| At 1 April 2024 | 17,031 |  | 8,793 |  | 13,372 |  | 14,284 |  | 53,480 |  |

| Charge for year | 3,613 |  | 336 |  | - |  | 1,382 |  | 5,331 |  |

| At 31 March 2025 | 20,644 |  | 9,129 |  | 13,372 |  | 15,666 |  | 58,811 |  |

| NET BOOK VALUE

| At 31 March 2025 | 79,435 |  | 336 |  | - |  | 1,974 |  | 81,745 |  |

| At 31 March 2024 | 58,401 |  | 672 |  | - |  | 3,356 |  | 62,429 |  |

FLYLIGHT AIRSPORTS LIMITED (REGISTERED NUMBER: 03018177)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Sales ledger control account | 117,536 |  | 98,592 |  |

| Provision for doubtful debts | (1,431 | ) | (1,431 | ) |

| Tax | 9,477 |  | - |  |

| Prepayments and accrued income | 13,547 |  | 20,412 |  |

139,129 |  | 117,573 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 17,287 |  | 17,287 |  |

| Purchase ledger control | 125,888 |  | 105,482 |  |

| Tax | - |  | 9,478 |  |

| Social security and other taxes | 5,491 |  | 5,305 |  |

| VAT | 14,750 |  | 58,281 |  |

| Other creditors | 2,348 |  | 1,430 |  |

| Directors' current accounts | 66,386 |  | 64,886 |  |

| Accruals and deferred income | 6,921 |  | 5,835 |  |

239,071 |  | 267,984 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans - 2-5 years | 27,842 |  | 38,038 |  |

| Bank loans more than 5 years | 22,362 |  | 27,611 |  |

50,204 |  | 65,649 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more than 5 years | 22,362 |  | 27,611 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 4,146 |  | 4,146 |  |

| Between one and five years | 1,728 |  | 5,874 |  |

5,874 |  | 10,020 |  |