Company No: 05402154 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	239,035		180,191
		239,035		180,191
Current assets
Stocks		44,058		49,957
Debtors	4	114,608		136,762
Cash at bank and in hand		342,153		255,609
		500,819		442,328
Creditors: amounts falling due within one year	5	( 103,094)		( 85,041)
Net current assets		397,725		357,287
Total assets less current liabilities		636,760		537,478
Provision for liabilities		( 50,800)		( 36,000)
Net assets		585,960		501,478
Capital and reserves
Called-up share capital	6	1,012		1,012
Share premium account		228		228
Profit and loss account		584,720		500,238
Total shareholder's funds		585,960		501,478

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Devon and Somerset Flight Training Limited (registered number: 05402154) were approved and authorised for issue by the Board of Directors on 17 December 2025. They were signed on its behalf by:

Miss N A Procter Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Devon and Somerset Flight Training Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Dunkeswell Aerodrome, Dunkeswell, Devon, EX14 4LG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable, net of value added tax in respect of the sale of goods and provision of services in the ordinary course of the company’s activities.

Turnover is adjusted for deferred income to ensure that income invoiced in advance of services being provided is deferred and recognised in the appropriate period.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Vehicles	20 years straight line
Fixtures and fittings	10 years straight line
Office equipment	10 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Tangible assets

	Land and buildings		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	57,037		243,080		19,261		54,423		373,801
Additions	0		100,700		0		835		101,535
Disposals	0		( 30,000)		( 256)		( 12,063)		( 42,319)
At 31 March 2025	57,037		313,780		19,005		43,195		433,017
Accumulated depreciation
At 01 April 2024	21,660		107,623		17,799		46,528		193,610
Charge for the financial year	1,140		20,724		288		1,092		23,244
Disposals	0		( 12,000)		( 256)		( 10,616)		( 22,872)
At 31 March 2025	22,800		116,347		17,831		37,004		193,982
Net book value
At 31 March 2025	34,237		197,433		1,174		6,191		239,035
At 31 March 2024	35,377		135,457		1,462		7,895		180,191

Included in land and buildings is leasehold property.

4. Debtors

	2025		2024
	£		£
Trade debtors	30,702		35,383
Amounts owed by Group undertakings	56,274		75,494
Prepayments	27,632		25,885
	114,608		136,762

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	26,782		27,954
Accruals and deferred income	36,488		21,355
Taxation and social security	36,319		34,197
Other creditors	3,505		1,535
	103,094		85,041

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,012 Ordinary shares of £ 1.00 each	1,012		1,012

7. Financial commitments

Commitments

Amounts not provided for in the balance sheet:
The total amount of guarantees not included in the balance sheet is £100,000 (2024 - £100,000). This is a guarantee in place over the bank borrowings of the parent undertaking.
At the year end the net bank borrowings of the parent were £49,400 (2024: £83,657).