Company registration number 03161242 (England and Wales)
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
PAGES FOR FILING WITH REGISTRAR
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
108,878
99,261
Current assets
Stocks
82,000
96,000
Debtors
4
138,916
38,065
Cash at bank and in hand
702,125
572,698
923,041
706,763
Creditors: amounts falling due within one year
5
(175,703)
(58,549)
Net current assets
747,338
648,214
Total assets less current liabilities
856,216
747,475
Creditors: amounts falling due after more than one year
6
(2,500)
-
0
Provisions for liabilities
(4,382)
(17,452)
Net assets
849,334
730,023
Capital and reserves
Called up share capital
600
600
Profit and loss reserves
848,734
729,423
Total equity
849,334
730,023

The notes on pages 3 to 6 form part of these financial statements.

CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2026
28 February 2026
- 2 -

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 4 August 2026 and are signed on its behalf by:
Mr W P Chell
Director
Company registration number 03161242 (England and Wales)
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -
1
Accounting policies
Company information

Chell Aircraft Spares and Equipment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2-3 Charter Point Way, Ashby de la Zouch, Leicestershire, LE65 1NF. The principal place of business is Haywood, Mill Mill Lane, Great Haywood, Stafford, Staffordshire, United Kingdom, ST18 0RJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% on cost
Plant and equipment
15% on reducing balance
Fixtures and fittings
20% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
7
6
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2025
17,566
181,683
11,662
80,599
291,510
Additions
-
0
4,999
-
0
68,410
73,409
Disposals
-
0
-
0
-
0
(46,584)
(46,584)
At 28 February 2026
17,566
186,682
11,662
102,425
318,335
Depreciation and impairment
At 1 March 2025
12,237
134,776
11,088
34,148
192,249
Depreciation charged in the year
960
7,798
114
19,982
28,854
Eliminated in respect of disposals
-
0
-
0
-
0
(11,646)
(11,646)
At 28 February 2026
13,197
142,574
11,202
42,484
209,457
Carrying amount
At 28 February 2026
4,369
44,108
460
59,941
108,878
At 28 February 2025
5,329
46,907
574
46,451
99,261
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
113,417
23,979
Other debtors
25,499
14,086
138,916
38,065
CHELL AIRCRAFT SPARES AND EQUIPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 6 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
19,652
3,859
Taxation and social security
135,383
42,169
Other creditors
20,668
12,521
175,703
58,549

Included within creditors above are obligations under finance leases which are secured debts.

6
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
2,500
-
0

Included within creditors above are obligations under finance leases which are secured debts.

7
Financial commitments, guarantees and contingent liabilities

The company has operating lease commitments totalling £1 18,598 over the remaining period of the leases.

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