Bristol Groundschool International Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Bristol Groundschool International Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09532736 . The registered office is Bristol Groundschool Windmill Road, Kenn, Clevedon, BS21 6UJ.

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. 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:

Plant & Machinery	33% straight line depreciation basis
Computer Equipment	33% straight line depreciation basis

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.

...CONTINUED

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Bristol Groundschool International Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.6. Taxation - continued

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 19 (2024: 18)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 May 2024	-
Additions	1,150,000

As at 30 April 2025	1,150,000

Amortisation
As at 1 May 2024	-
Provided during the period	115,000

As at 30 April 2025	115,000

Net Book Value
As at 30 April 2025	1,035,000

As at 1 May 2024	-

5. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 1 May 2024	66,821	39,332	106,153
Additions	10,623	11,196	21,819

As at 30 April 2025	77,444	50,528	127,972

Depreciation
As at 1 May 2024	47,772	36,005	83,777
Provided during the period	6,019	6,409	12,428

As at 30 April 2025	53,791	42,414	96,205

Net Book Value
As at 30 April 2025	23,653	8,114	31,767

As at 1 May 2024	19,049	3,327	22,376

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Bristol Groundschool International Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	205,426	236,426
Prepayments and accrued income	47,888	15,398
Other debtors	-	210
Wings Alliance Ltd loan	146,088	135,720
ELM Software Ltd - loan	1,950,667	1,426,593
Other debtors - Inter Group Reclaim	39	39
Wings Alliance Training Ltd loan	6,549	5,939
Corporation tax recoverable assets	221,384	221,384
VAT	-	23,868
Directors' loan accounts	-	661,403
Deferred tax current asset FRS105	3,336	3,336

	2,581,377	2,730,316

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	149,184	119,090
Bank loans and overdrafts	16,953	10,000
Other taxes and social security	24,076	21,831
VAT	45,533	-
Credit card	14,342	13,808
Bristol Groundshool Europe Ltd	1,879,846	1,715,270
Bristol Groundschool Training Ltd	28,839	28,839
Bristol Groundschool Ltd	186,637	53,067
Bristol Groundschool (UK) Ltd	210,496	25,176
Pensions payable	11,116	10,616
Accruals and deferred income	750	750
Directors' loan accounts	328,507	-

	2,896,279	1,998,447

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

	2025	2024
	£	£
Bank loans	-	17,601

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

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Bristol Groundschool International Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

10. Directors Advances, Credits and Guarantees

Included within Creditors are the following loans from directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 April 2025
	£	£	£	£	£
Mr Alexander Whittingham	(661,403 )	328,507	661,403	-	328,507

The above loan is unsecured, interest free and repayable on demand.

11. Related Party Transactions

The balance due to Bristol Groundschool Training Ltd at the end of the financial period was £28,839 (2024: £28,839). Bristol Groundschool Training Ltd is a company limited by guarantee, and directors Alexander Whittingham and Roderick Wren are also appointed as directors.

The balance due to Bristol Groundschool Ltd at the end of the financial period was £186,637 (2024: £53,067). Bristol Groundschool Ltd is 100% owned by director Alexander Whittingham.

The balance due to Bristol Groundschool Europe Ltd (Ireland) at the end of the financial period of £1,879,846 (2024: £1,715,270). The director Alexander Whittingham is an appointed director of Bristol Groundschool Europe Ltd based in Ireland.

The balance due from Wings Alliance Ltd at the end of the financial period of £146,088 (2024: £135,720). Wings Alliance Ltd is a company limited by guarantee, and directors Alexander Whittingham and Roderick Wren are also appointed as directors.

The balance due from Wings Alliance Training Ltd (Ireland) at the end of the financial period of £6,549 (2024: £5,391). The director Alexander Whittingham is an appointed director of Wings Alliance Training Ltd based in Ireland.

The balance due from ELMSoftware Ltd at the end of the financial period was £1,950,667 (2024: £1,426,593). ELMSoftware Ltd is 80% owned by director Alexander Whittingham.

The balance due to Bristol Groundschool (UK) Ltd at the end of the financial period was £210,496 (2024: £25,176). Bristol Groundschool (UK) Ltd is 50% owned by director Alexander Whittingham.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		1,035,000		-
Tangible Assets	5		31,767		22,376

			1,066,767		22,376
CURRENT ASSETS
Debtors	6	2,581,377		2,730,316
Cash at bank and in hand		92,342		53,881

		2,673,719		2,784,197
Creditors: Amounts Falling Due Within One Year	7	(2,896,279 )		(1,998,447 )

NET CURRENT ASSETS (LIABILITIES)			(222,560 )		785,750

TOTAL ASSETS LESS CURRENT LIABILITIES			844,207		808,126

Creditors: Amounts Falling Due After More Than One Year	8		-		(17,601 )

NET ASSETS			844,207		790,525

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Profit and Loss Account			843,207		789,525

SHAREHOLDERS' FUNDS			844,207		790,525