REGISTERED NUMBER: 02378479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2026

FOR

PLANE SAILING AIR DISPLAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J P Warren Wilson

A Rijkers

P L Mulcahy

N S Gwyther

SECRETARY:

N S Gwyther

REGISTERED OFFICE:

Duxford Airfield

Cambridge

Cambridgeshire

CB22 4QR

REGISTERED NUMBER:

02378479 (England and Wales)

ACCOUNTANTS:

Chater Allan LLP

Chartered Accountants

7 Quy Court

Colliers Lane

Stow-cum-Quy

Cambridgeshire

CB25 9AU

FIXED ASSETS

Tangible assets

4

23,682

30,541

CURRENT ASSETS

Stocks

16,725

19,325

Debtors

5

60,199

21,603

Cash at bank and in hand

18,148

11,914

95,072

52,842

CREDITORS

Amounts falling due within one year

6

183,765

223,883

NET CURRENT LIABILITIES

(88,693

)

(171,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(65,011

)

(140,500

)

CREDITORS

Amounts falling due after more than one year

7

-

954

NET LIABILITIES

(65,011

)

(141,454

)

CAPITAL AND RESERVES

Called up share capital

962

911

Share premium

1,728,813

1,556,664

Retained earnings

(1,794,786

)

(1,699,029

)

SHAREHOLDERS' FUNDS

(65,011

)

(141,454

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2026 and were signed on its behalf by:

A Rijkers - Director

1.	STATUTORY INFORMATION

Plane Sailing Air Displays Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is derived from the principal activity of the display of a specialist aircraft.

Turnover represents accrued income and net invoiced sales of services, excluding value added tax.

In line with Financial Reporting Standard 102. Income has been recognised when the company obtains the right to consideration in exchange for its performance.

Tangible fixed assets

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

Office buildings - 20% on reducing balance

Engines and modifications - 10% on cost

Fixtures and fittings - 33% on reducing balance

Sundry equipment - 25% on cost

Stocks

Stocks consists of aircraft parts and spares.

Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors consider that the going concern basis of accounting remains valid because financial support is available, if required, from the shareholders of the company (Catalina Aircraft Limited) which owns the aircraft operated by the Company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2025 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2025

9,346

186,806

196,152

Disposals

-

(791

)

(791

)

At 28 February 2026

9,346

186,015

195,361

DEPRECIATION

At 1 March 2025

9,169

156,442

165,611

Charge for year

36

6,823

6,859

Eliminated on disposal

-

(791

)

(791

)

At 28 February 2026

9,205

162,474

171,679

NET BOOK VALUE

At 28 February 2026

141

23,541

23,682

At 28 February 2025

177

30,364

30,541

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

3,279

-

Other debtors

56,920

21,603

60,199

21,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

954

3,758

Trade creditors

52,548

18,942

Taxation and social security

1,347

1,144

Other creditors

128,916

200,039

183,765

223,883

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

954

8.	RELATED PARTY DISCLOSURES

During the year the company had the following related party transactions:

-£18,000 issue of shares to The Catalina Society. The Catalina Society is a non-profit making organisation with no share capital in which A Rijkers is a member.