Registration number: 01613790

Oxfordshire Sportflying Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Oxfordshire Sportflying Limited

Company Information

Directors

Mr D Blakemore Mr L M Radcliffe Mr K G Hedigan Mr J E Blakemore

Company secretary

Mr L M Radcliffe

Registered office

32 High Street Wall Heath Kingswinford West Midlands DY6 0HB

Accountants

Munslows Accountants Ltd Chartered Certified Accountants32 High Street Wall Heath Kingswinford West Midlands DY6 0HB

Oxfordshire Sportflying Limited

(Registration number: 01613790)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	269,831	232,027
Current assets
Stocks	5	5,190	2,693
Debtors	6	5,745	4,435
Cash at bank and in hand		156,992	142,134
		167,927	149,262
Creditors: Amounts falling due within one year	7	(10,214)	(12,879)
Net current assets		157,713	136,383
Total assets less current liabilities		427,544	368,410
Provisions for liabilities		(38,366)	(35,934)
Net assets		389,178	332,476
Capital and reserves
Called up share capital	8	9,000	9,000
Share premium reserve		60,290	60,290
Capital redemption reserve		210	210
Retained earnings		319,678	262,976
Shareholders' funds		389,178	332,476

For the financial year ending 31 January 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 May 2026 and signed on its behalf by:
 

......................................... Mr L M Radcliffe Company secretary and director

Oxfordshire Sportflying Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

These financial statements were authorised for issue by the Board on 15 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Oxfordshire Sportflying Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold property	2% straight line
Leasehold property	10% straight line
Aircraft and equipment	5% reducing balance
Airfield equipment	15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Oxfordshire Sportflying Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2025 - 4).

Oxfordshire Sportflying Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2025	63,103	307,146	370,249
Additions	20,009	35,933	55,942
At 31 January 2026	83,112	343,079	426,191
Depreciation
At 1 February 2025	20,206	118,016	138,222
Charge for the year	1,570	16,568	18,138
At 31 January 2026	21,776	134,584	156,360
Carrying amount
At 31 January 2026	61,336	208,495	269,831
At 31 January 2025	42,897	189,130	232,027

Included within the net book value of land and buildings above is £61,336 (2025 - £42,897) in respect of freehold land and buildings and £Nil (2025 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

	2026 £	2025 £
Other inventories	5,190	2,693

6

Debtors

Current	2026 £	2025 £
Trade debtors	5,745	3,285
Prepayments	-	250
Other debtors	-	900
	5,745	4,435

Oxfordshire Sportflying Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	-	7,733
Taxation and social security	2,911	683
Accruals and deferred income	7,303	4,463
	10,214	12,879

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	9,000	9,000	9,000	9,000