REGISTERED NUMBER: OC347013 (England and Wales)

Fly 7 Helicopters LLP

Financial Statements

for the Year Ended 31st March 2026

Page

General Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DESIGNATED MEMBERS:

M Chadwick

O Chadwick

REGISTERED OFFICE:

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

REGISTERED NUMBER:

OC347013 (England and Wales)

ACCOUNTANTS:

Martin and Company

38 Dollar Street

Cirencester

Gloucestershire

GL7 2AN

FIXED ASSETS

Tangible assets

4

405,981

428,809

CURRENT ASSETS

Debtors

5

61,921

41,780

Prepayments and accrued income

4,020

4,284

Cash at bank

6,566

967

72,507

47,031

CREDITORS

Amounts falling due within one year

6

2,254

2,000

NET CURRENT ASSETS

70,253

45,031

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

476,234

473,840

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

5,734

3,340

MEMBERS' OTHER INTERESTS

Capital accounts

37,000

37,000

Revaluation reserve

8

433,500

433,500

476,234

473,840

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

5,734

3,340

Members' other interests

470,500

470,500

Amounts due from members

5

(60,601

)

(28,645

)

415,633

445,195

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 1st May 2026 and were signed by:

M Chadwick - Designated member

1.	STATUTORY INFORMATION

Fly 7 Helicopters LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

Turnover represents net invoiced sales of goods and services.

Tangible fixed assets

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

Helicopter

-

5% on cost

Equipment

-

25% on reducing balance

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Helicopter

Equipment

Totals

£

£

£

COST OR VALUATION

At 1st April 2025

and 31st March 2026

450,000

19,575

469,575

DEPRECIATION

At 1st April 2025

22,500

18,266

40,766

Charge for year

22,500

328

22,828

At 31st March 2026

45,000

18,594

63,594

NET BOOK VALUE

At 31st March 2026

405,000

981

405,981

At 31st March 2025

427,500

1,309

428,809

Cost or valuation at 31st March 2026 is represented by:

Helicopter

Equipment

Totals

£

£

£

Valuation in 2016

330,000

19,575

349,575

Valuation in 2024

120,000

-

120,000

450,000

19,575

469,575

If the helicopter had not been revalued it would have been included at the following historical cost:

2026

2025

£

£

Cost

330,000

330,000

The helicopter was valued on an open market basis on 12th June 2024 by the designated members of the LLP .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

1,320

7,740

Amounts due from members

60,601

28,645

VAT

-

5,395

61,921

41,780

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

VAT

220

-

Accrued expenses

2,034

2,000

2,254

2,000

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

8.

RESERVES

Revaluation

reserve

£

At 1st April 2025

and 31st March 2026

433,500