REGISTERED NUMBER: 00967895 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

STAPLEFORD FLYING CLUB LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs P J Colkett

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

00967895 (England and Wales)

ACCOUNTANTS:

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

2,999,607

3,164,396

CURRENT ASSETS

Stocks

388,023

336,194

Debtors

365,436

421,921

Cash at bank and in hand

4,915

4,879

758,374

762,994

CREDITORS

Amounts falling due within one year

1,586,712

1,732,481

NET CURRENT LIABILITIES

(828,338

)

(969,487

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,171,269

2,194,909

CREDITORS

Amounts falling due after more than one year

5

(556,050

)

(498,635

)

PROVISIONS FOR LIABILITIES

(185,758

)

(184,026

)

NET ASSETS

1,429,461

1,512,248

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

1,206,213

1,294,326

Retained earnings

223,148

217,822

SHAREHOLDERS' FUNDS

1,429,461

1,512,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 18 September 2026 and were signed by:

Mrs P J Colkett - Director

1.	STATUTORY INFORMATION

Stapleford Flying Club 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 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Simulators and radios

-

Straight line over 20 years

Furniture and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Engines

-

20% on cost

The company reviews the estimated useful lives of its aircraft on an ongoing basis. The outcome of the review indicates that the aircraft held by the company increase in value and it is therefore appropriate for aircraft not to be depreciated each year and they are therefore stated at fair value.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2024 - 57 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 January 2025

4,187,117

Additions

256,223

Disposals

(229,658

)

Revaluations

(317,507

)

At 31 December 2025

3,896,175

DEPRECIATION

At 1 January 2025

1,022,721

Charge for year

245,711

Eliminated on disposal

(94,757

)

Revaluation adjustments

(277,107

)

At 31 December 2025

896,568

NET BOOK VALUE

At 31 December 2025

2,999,607

At 31 December 2024

3,164,396

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Aircraft

£

COST

At 1 January 2025

and 31 December 2025

340,000

NET BOOK VALUE

At 31 December 2025

340,000

At 31 December 2024

340,000

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loan

281,450

276,035

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

165,196

171,714

Bank loans

632,650

562,235

797,846

733,949

The bank loan and hire purchase creditor are secured over the company's aircraft.

Bank overdraft is secured by directors personal guarantee.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

Mrs P J Colkett

Balance outstanding at start of year

9,301

9,500

Amounts advanced

8,722

9,301

Amounts repaid

(9,301

)

(9,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,722

9,301

Mr J H Chicken

Balance outstanding at start of year

164,850

9,500

Amounts advanced

-

164,850

Amounts repaid

(164,850

)

(9,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

164,850

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £107,006 (2024: £103,136) by P.J.C. (Leasing) Limited, a company in which Mrs P J Colkett is the director. The company was invoiced £47,240 (2024: £50,190) during the year by P.J.C. (Leasing) Limited for hire of aircraft.

At the balance sheet date, the company owed £433,170 (2024: £410,170) to Herts & Essex Aero Club Limited, a company with common directors. During the year the company invoiced £88,000 (2024: £88,000) for management fees to and was invoiced £36,000 (2024: £36,000) for rent by Herts & Essex Aero Club Limited.