Jet Applications Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 5

Jet Applications Limited

(Registration number: 5092775)
Statement of financial position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	68,537	73,325
Investment property	5	1,515,231	1,557,300
		1,583,768	1,630,625
Current assets
Debtors	6	9,269	326,619
Investments	7	67,050	67,050
Cash at bank and in hand		449,838	150,354
		526,157	544,023
Creditors: Amounts falling due within one year	8	(82,743)	(77,454)
Net current assets		443,414	466,569
Total assets less current liabilities		2,027,182	2,097,194
Provisions for liabilities		(65,165)	(73,989)
Net assets		1,962,017	2,023,205
Capital and reserves
Called up share capital	9	100	100
Other reserves		280,629	312,698
Retained earnings		1,681,288	1,710,407
Shareholders' funds		1,962,017	2,023,205

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 22 April 2026 and signed on its behalf by:
 

......................................... Miss Jane Tidy Director

Jet Applications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 22 April 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Jet Applications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fittings fixtures & Equipment	25% Straight line
Plant & Machinery	5% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Jet Applications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2025	108,652	108,652
At 31 March 2026	108,652	108,652
Depreciation
At 1 April 2025	35,327	35,327
Charge for the year	4,788	4,788
At 31 March 2026	40,115	40,115
Carrying amount
At 31 March 2026	68,537	68,537
At 31 March 2025	73,325	73,325

5	Investment properties

	2026 £
At 1 April	1,557,300
Fair value adjustments	(42,069)
At 31 March	1,515,231

Investment properties are valued at the balance sheet date by the directors.

6

Debtors

Current	Note	2026 £	2025 £
Amounts owed by related parties		300	325,300
Other debtors		8,969	1,319
		9,269	326,619

Jet Applications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7	Current asset investments

	2026 £	2025 £
Other investments	67,050	67,050

8

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Taxation and social security	7,804	8,270
Accruals and deferred income	3,150	2,980
Other creditors	71,789	66,204
	82,743	77,454

9	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100