Fifield Aviation Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11832764

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,659		1,379

			1,659		1,379
CURRENT ASSETS
Debtors	5	867		1,975
Cash at bank and in hand		31,619		4,759

		32,486		6,734
Creditors: Amounts Falling Due Within One Year	6	(33,789 )		(6,554 )

NET CURRENT ASSETS (LIABILITIES)			(1,303 )		180

TOTAL ASSETS LESS CURRENT LIABILITIES			356		1,559

PROVISIONS FOR LIABILITIES
Deferred Taxation			(341 )		(262 )

NET ASSETS			15		1,297

CAPITAL AND RESERVES
Called up share capital	7		2		2
Profit and Loss Account			13		1,295

SHAREHOLDERS' FUNDS			15		1,297

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Fifield Aviation Services Ltd

Balance Sheet (continued)

As At 31 March 2026

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Adrian Webb

Director

13 July 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Fifield Aviation Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11832764 . The registered office is 1 Meadow View, Westwood, Crediton, Devon, EX17 3PF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	20% reducing balance
Computer Equipment	25% reducing balance

2.4. Financial Instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Fifield Aviation Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. Impairment

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.

2.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2025	1,259	2,746	4,005
Additions	416	358	774

As at 31 March 2026	1,675	3,104	4,779

Depreciation
As at 1 April 2025	821	1,805	2,626
Provided during the period	170	324	494

As at 31 March 2026	991	2,129	3,120

Net Book Value
As at 31 March 2026	684	975	1,659

As at 1 April 2025	438	941	1,379

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Fifield Aviation Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	540	-
Prepayments and accrued income	226	202
VAT	101	-
Other taxes and social security	-	2
Directors' loan accounts	-	1,771

	867	1,975

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Corporation tax	12,975	5,025
Other taxes and social security	32	-
VAT	-	37
Other creditors	735	354
Accruals and deferred income	1,225	1,138
Directors' loan accounts	18,822	-

	33,789	6,554

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	2	2

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Adrian Webb	885	-	885	-	-
Mrs Helen Fifield	885	-	885	-	-

The above loan is unsecured, interest free and repayable on demand. The loans have been repaid within nine months of the year end.

9. Related Party Transactions

At the year end, 31 March 2026, £18,822 (2025: £nil) was owed to the directors in respect of loans held with the company. These amounts are interest free and repayable on demand.

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