Company Registration No. 514150 (England and Wales)
CAMBRIDGE GLIDING CLUB LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
PAGES FOR FILING WITH REGISTRAR
CAMBRIDGE GLIDING CLUB LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CAMBRIDGE GLIDING CLUB LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
258,832
247,189
Current assets
Stocks
33,904
35,476
Debtors
5
64,054
60,902
Cash at bank and in hand
293,682
263,825
391,640
360,203
Creditors: amounts falling due within one year
6
(214,108)
(213,068)
Net current assets
177,532
147,135
Total assets less current liabilities
436,364
394,324
Creditors: amounts falling due after more than one year
7
(41,849)
(55,089)
Grants and donations
(6,750)
-
0
Net assets
387,765
339,235
Reserves
Other reserves
44,732
41,156
Income and expenditure account
343,033
298,079
Total members' funds
387,765
339,235
CAMBRIDGE GLIDING CLUB LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2025
30 September 2025
- 2 -

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 February 2026 and are signed on its behalf by:
D J E Howse
Director
Company registration number 514150 (England and Wales)
CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
1
Accounting policies
Company information

Cambridge Gliding Club Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Gransden Lodge Airfield, Longstowe Road, Little Gransden, Sandy, Bedfordshire, SG19 3EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Some members have made available loan finance to the company amounting to £41,000, of which £1,66 7 is repayable on demand or short notice.

The company is dependent on the continued financial support of those members. The directors anticipate that that support will continue and will be sufficient for the company's needs. Accordingly the financial statements have been prepared on a going concern basis and do not include any adjustments that would result from the withdrawal of the member loans.

1.2
Income and expenditure

The turnover shown in the financial statements represents subscriptions, flying charges, sales and other income during the year, stated net of any applicable Value Added Tax.

The company is partially exempt for Value Added Tax purposes but recovers an element of VAT suffered. Expenditure is shown inclusive of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land & buildings
Straight line over term of lease, portable bulidings 10 yrs, roadways 5yrs
Winches, Avgas tank & sundry equipment
Winches 10% straight line & other equipment 10% to 33.3% reducing balance or straight line
Tug aircraft
Aircraft 7.5% to 10% straight line and engines 8 to 10 years straight line
Parachutes, gliders & trailers
Gliders 7.5% reducing balance & parachutes straight line over manufacturers life
Tractors & motor vehicles
15% to 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in surplus or deficit, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated net realisable value after proper allowance for slow moving and obsolete items.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its net realisable value is recognised as an impairment loss in income and expenditure. Reversals of impairment losses are also recognised in income and expenditure.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

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

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The company trades as a mutual society and accordingly no corporation tax is chargeable on surpluses arising from its activities with its members. The company benefits from CASC status (registration number CASC 02520) and is exempt from Corporation Tax on interest received and non member income within CASC limits.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The company operates a defined contribution scheme for the benefits of its employees. Contributions payable are recognised in the Income Statement when due.

1.10
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.12

Capital grants

Capital grants are taken into income at the same time as the expenditure they are intended to meet. The relevant asset is recorded at full cost and depreciated over its useful economic life and the grant is recorded as deferred income and taken into income over the same period, and on the same basis, as the asset is depreciated.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Judgements

Careful judgement by the management is applied in deciding and applying the Company's accounting policies in respect of identifying signs of assets requiring impairment review. Judgements are based on the information available at each balance sheet date.

Estimates

The directors estimate the useful economic life of tangible fixed assets, items requiring impairment and stock obsolescence. Changes in these estimates could result in changes being required to the income in the statement of comprehensive income and the carrying values in the balance sheet.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
3
CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2024
341,787
833,146
1,174,933
Additions
11,180
36,250
47,430
Disposals
-
0
(220)
(220)
At 30 September 2025
352,967
869,176
1,222,143
Depreciation and impairment
At 1 October 2024
298,269
629,475
927,744
Depreciation charged in the year
6,240
29,547
35,787
Eliminated in respect of disposals
-
0
(220)
(220)
At 30 September 2025
304,509
658,802
963,311
Carrying amount
At 30 September 2025
48,458
210,374
258,832
At 30 September 2024
43,518
203,671
247,189

The financial statements are prepared under the historical cost convention which requires tangible fixed assets to be disclosed at original cost less accumulated depreciation. The directors estimate that the fair value of the assets at the reporting date was £588,500.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
25,624
16,268
Prepayments and accrued income
25,672
32,306
Members' flying accounts
12,758
12,328
64,054
60,902
CAMBRIDGE GLIDING CLUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,000
5,000
Members' loans
1,667
11,667
Phillip Wills Memorial Fund loans
5,074
4,944
Taxation and social security
6
3,728
Other creditors
101,682
79,748
Members' flying accounts
59,577
63,594
Accruals and deferred income
41,102
44,387
214,108
213,068
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
-
0
5,000
Members' loans
39,333
42,500
Phillip Wills Memorial Fund loans
2,516
7,589
41,849
55,089

Included in creditors falling due within and after more than one year are Philip Wills Memorial Fund Loans of £7,590 (2024 - £12,533) which are secured by a first charge held over the specific tangible fixed assets for which the loans were made available.

8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
354,760
408,478
9
Capital commitments

Amounts contracted for but not provided in the financial statements:

2025
2024
£
£
Acquisition of tangible fixed assets
17,662
42,126
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