REGISTERED NUMBER: 07084892

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Heritage Aircraft Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E A T M Brenninkmeyer

M W Fitzgerald

O Wheeldon

REGISTERED OFFICE:

Shadwell House

65 Lower Green Road

Tunbridge Wells

Kent

TN4 8TW

REGISTERED NUMBER:

07084892

ACCOUNTANTS:

Peter Hodgson & Co.

Chartered Accountants

Shadwell House

65 Lower Green Road

Tunbridge Wells

Kent

TN4 8TW

FIXED ASSETS

Property, plant and equipment

4

42,322

45,571

CURRENT ASSETS

Debtors

5

5,924

9,219

Cash at bank

1,189

2,381

7,113

11,600

CREDITORS

Amounts falling due within one year

6

49,585

57,321

NET CURRENT LIABILITIES

(42,472

)

(45,721

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(150

)

(150

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(250

)

(250

)

SHAREHOLDERS' FUNDS

(150

)

(150

)

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.

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 23 December 2025 and were signed on its behalf by:

M W Fitzgerald - Director

1.	STATUTORY INFORMATION

Heritage Aircraft Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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 valuation of fixed assets and associated depreciation charges are significant estimates included in these accounts. Fixed assets are valued at cost less accumulated depreciation and provision for impairment losses.

The directors consider that the net book value of fixed assets shown in the accounts is a fair approximation of market value.

Changes in accounting policies

There have been no changes to the accounting policies adopted by the company in either the current or previous financial year. The results for the current year are therefore directly comparable with those of the previous year.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

5% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

The company has elected to apply the provisions of of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues' of FRS 102 to all of its financial instruments.

The company's financial instruments comprise debtors, bank and cash balances and qualify as 'basic' financial instruments. These are recognised at transaction value and subsequently measured at their settlement value.

Functional and presentational currency

The functional and presentational currency used by the company is £stg.

Going concern

The accounts are drawn up on a going concern basis on the grounds that the company has the continued support of The Heritage Aircraft Trust and its trustees.

The company is wholly owned by The Heritage Aircraft Trust.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

64,988

DEPRECIATION

At 1 April 2024

19,417

Charge for year

3,249

At 31 March 2025

22,666

NET BOOK VALUE

At 31 March 2025

42,322

At 31 March 2024

45,571

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

4,125

Other debtors

3,628

3,247

VAT

2,296

1,847

5,924

9,219

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,266

2,484

Due to group undertakings

43,119

51,837

Deferred income

3,200

3,000

49,585

57,321

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2024

(250

)

Profit for the year

-

At 31 March 2025

(250

)

9.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

-

-

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of The Heritage Aircraft Trust.

The Heritage Aircraft Trust is controlled by its trustees acting as a single body.

11.	RELATED PARTY DISCLOSURES

During the year, the company received grants and charitable donations of £223,418 (2024 : £138,012) from The Heritage Aircraft Trust.

At the financial year end, the company owed £43,119 (2024 : £51,837) to The Heritage Aircraft Trust.

During the year, the company charged £608 (2024 : £1,854) to MX Jets Limited for goods and services.

MX Jets Limited is a company controlled by Mark Fitzgerald who is a director of Heritage Aircraft Limited and also a trustee of The Heritage Aircraft Trust.