Oldbus Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01495136

OLDBUS LIMITED

Filleted Unaudited Financial Statements

31 December 2025

OLDBUS LIMITED

Statement of Financial Position

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		126,734	52,883

Current assets

Debtors	5	3,223	29,568
Cash at bank and in hand		30,440	78,261
		--------	---------
		33,663	107,829

Creditors: amounts falling due within one year	6	2,763		1,649
		--------		---------
Net current assets			30,900	106,180
			---------	---------
Total assets less current liabilities			157,634	159,063

Creditors: amounts falling due after more than one year	7	400	400
		---------	---------
Net assets		157,234	158,663
		---------	---------

Capital and reserves

Called up share capital	42,000	42,000
Share premium account	250	250
Profit and loss account	114,984	116,413
	---------	---------
Shareholders funds	157,234	158,663
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

OLDBUS LIMITED

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 5 May 2026 , and are signed on behalf of the board by:

Mr D R Wetherell	Mr N J Blundell
Director	Director

Company registration number: 01495136

OLDBUS LIMITED

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex, RH17 7QX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

3.2 Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

3.3 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

3.4 Income tax

The company is not liable to corporation tax on its main activity as it is a mutual association. Corporation tax, therefore, is only charged on interest received during the year.

3.5 Tangible assets

Tangible fixed assets are normally stated at cost less depreciation.

3.6 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Aircraft restoration & engine	-	10% straight line
Ancillary equipment	-	6% straight line

Airframe: The Airframe purchased in 1989 has since maintained its residual value and no depreciation has, therefore, been provided. The matter will be kept under review annually.

3.7 Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Tangible assets

	Airframe	Aircraft restoration & engine	Ancillary equipment	Total
	£	£	£	£
Cost
At 1 January 2025	31,775	42,525	29,899	104,199
Additions	–	81,626	–	81,626
Disposals	–	( 37,747)	( 44)	( 37,791)
	--------	--------	--------	---------
At 31 December 2025	31,775	86,404	29,855	148,034
	--------	--------	--------	---------
Depreciation
At 1 January 2025	–	38,224	13,092	51,316
Charge for the year	–	6,201	1,574	7,775
Disposals	–	( 37,747)	( 44)	( 37,791)
	--------	--------	--------	---------
At 31 December 2025	–	6,678	14,622	21,300
	--------	--------	--------	---------
Carrying amount
At 31 December 2025	31,775	79,726	15,233	126,734
	--------	--------	--------	---------
At 31 December 2024	31,775	4,301	16,807	52,883
	--------	--------	--------	---------

5. Debtors

	2025	2024
	£	£
Trade debtors	536	1,076
Other debtors	2,687	28,492
	-------	--------
	3,223	29,568
	-------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	533	550
Corporation tax	204	604
Social security and other taxes	1,531	–
Other creditors	495	495
	-------	-------
	2,763	1,649
	-------	-------

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	400	400
	----	----

The loan not wholly repayable within five years other than by instalments, comprises the loan in respect of Members' capital. This is the initial capital of the Old Bus Flying Group. There are no fixed terms for the repayment of this capital, nor of payment of interest upon it.

8. Directors' advances, credits and guarantees

No transactions with directors were undertaken such as are required to be disclosed under FRS 102 Section 1A.