Balance sheet continued

As at 31 March 2025

	Notes	2025 £	2024 £
Capital and reserves
Called up share capital:		62,520	62,520
Profit and loss account:		( 442,883 )	( 369,243 )
Shareholders funds:		( 380,363 )	( 306,723 )

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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 notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover represents amounts derived from the provision of goods and services which fall within the company’s ordinary activities after deduction of value added tax. The turnover and pre-tax loss, all of which arise in the United Kingdom, are attributable to one activity, aircraft rental.

  Tangible fixed assets depreciation policy

  Depreciation is provided to write off the cost less estimated residual value of tangible fixed assets over their useful lives which are assumed to be:
  Airframe and equipment 20 years
  Aircraft engine 1,000 hours