| OAKFLEET 2000 LIMITED |
| Registered number: |
03839878 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
|
|
|
|
£ |
|
|
£ |
| FIXED ASSETS |
| Tangible assets |
3 |
|
|
43,407 |
|
|
44,293 |
|
| CURRENT ASSETS |
| Debtors |
4 |
|
235 |
|
|
1,036 |
| Cash at bank and in hand |
|
|
14,895 |
|
|
11,085 |
|
|
|
15,130 |
|
|
12,121 |
| CREDITORS: amounts falling due within one year |
5 |
|
(1,380) |
|
|
(1,020) |
|
| NET CURRENT ASSETS |
|
|
|
13,750 |
|
|
11,101 |
|
| NET ASSETS |
|
|
|
£ 57,157 |
|
|
£ 55,394 |
|
|
|
|
|
|
|
|
| CAPITAL AND RESERVES |
| Called up share capital |
|
|
|
10 |
|
|
10 |
| Share premium account |
|
|
|
30,990 |
|
|
30,990 |
| Revaluation reserve |
6 |
|
|
26,530 |
|
|
27,071 |
| Income and expenditure account |
|
|
|
(373) |
|
|
(2,677) |
|
| SHAREHOLDERS' FUNDS |
|
|
|
£ 57,157 |
|
|
£ 55,394 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The income and expenditure account is not delivered to Companies House. |
|
|
| Mr R P Allum |
| Director |
| Approved by the board on 3 November 2025 |
|
| OAKFLEET 2000 LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
| 1 |
ACCOUNTING POLICIES |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The company was incorporated on 13th September 1999 and started to operate and maintain a light aircraft from December 1999. |
|
|
Subscriptions and flying fees |
|
Subscriptions and flying fees are amounts receivable by the company in order to provide funds to meet expenditure in the operation and maintenance of a light aircraft. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost or valuation less accumulative depreciation and any accumulative impairment losses. Valuations are made by the director on an open market basis. Depreciation is provided at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Airplane and aviation equipment |
2% p.a. on a reducing balance basis |
|
|
| 2 |
EMPLOYEES |
2024 |
|
2023 |
|
|
|
|
|
|
Number |
|
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
TANGIBLE FIXED ASSETS |
|
|
|
|
|
|
|
|
Airplane and Aviation Equipment |
|
|
|
|
|
|
|
|
£ |
|
Cost or valuation |
|
At 1 January 2024 |
59,395 |
|
At 31 December 2024 |
59,395 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
15,102 |
|
Charge for the year |
886 |
|
At 31 December 2024 |
15,988 |
|
|
|
|
|
|
|
|
|
|
Net book value |
| |
At 31 December 2024 |
£ 43,407 |
|
At 31 December 2023 |
£ 44,293 |
|
|
|
|
|
|
|
|
|
|
| OAKFLEET 2000 LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
Airplane and Aviation Equipment: |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
Historical cost |
28,015 |
|
28,015 |
|
Cumulative depreciation based on historical cost |
(11,138) |
|
(10,793) |
|
|
|
|
|
|
£ 16,877 |
|
£ 17,222 |
|
|
|
|
|
|
|
|
|
|
Following completion of an engine overhaul in August 2018 a valuation of £50,000 was made by the director for the value of the aircraft and the carrying value is considered to approximate market value. If the aircraft had been sold at the end of the year for its carrying value at the balance sheet date then no taxation would have been expected to arise on the sale. If the aircraft had not been revalued then the airplane and aviation equipment would otherwise have been included under the historical cost convention as shown above. |
|
|
| 4 |
DEBTORS |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Prepayments and other debtors |
235 |
|
1,036 |
|
|
|
|
|
|
£ 235 |
|
£ 1,036 |
|
|
|
|
|
|
|
|
|
|
| 5 |
CREDITORS: amounts falling due within one year |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Accruals and other creditors |
1,380 |
|
1,020 |
|
|
|
|
|
|
£ 1,380 |
|
£ 1,020 |
|
|
|
|
|
|
|
|
|
|
| 6 |
REVALUATION RESERVE |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
At 1 January 2024 |
27,071 |
|
27,623 |
|
Transfer to income and expenditure account |
(541) |
|
(552) |
|
(depreciation on revaluation uplift) |
|
|
At 31 December 2024 |
£ 26,530 |
|
£ 27,071 |
|
|
|
|
|
|
|
|
|
|