Aircraft Restoration Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11613332

Aircraft Restoration Company Limited

Unaudited financial statements

31 January 2026

Aircraft Restoration Company Limited

Statement of financial position

31 January 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5	1,678,516	1,581,354
Investments	6	4,950,601	4,950,601
		-----------	-----------
		6,629,117	6,531,955

Current assets

Debtors	7	19,984,118	18,732,825
Cash at bank and in hand		316,139	16,232
		------------	------------
		20,300,257	18,749,057

Creditors: Amounts falling due within one year	8	( 252,911)		( 175,443)
		------------		------------
Net current assets			20,047,346		18,573,614
			------------		------------
Total assets less current liabilities			26,676,463		25,105,569

Provisions

Taxation including deferred tax	( 206,508)	( 131,770)
	------------	------------
Net assets	26,469,955	24,973,799
	------------	------------

Capital and reserves

Called up share capital		200	200
Investment property revaluation reserve	9	17,407	17,407
Profit and loss account	9	26,452,348	24,956,192
		------------	------------
Shareholders funds		26,469,955	24,973,799
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

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

Aircraft Restoration Company Limited

Statement of financial position (continued)

31 January 2026

These financial statements were approved by the board of directors and authorised for issue on 29 October 2026 , and are signed on behalf of the board by:

J J Romain

Director

Company registration number: 11613332

Aircraft Restoration Company Limited

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Building 425 Duxford Airfield, Duxford, Cambridge, CB22 4QR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties and aircraft measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are discussed below: - Investment property - In applying the Company's accounting policies for investment property carried at fair value, consideration was given to the valuation of the aircraft at the reporting date. Further detail of the estimate has been included in the tangible assets note.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Rental income is recognised on a straight line basis over the period of use of the asset.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible fixed assets are initially recorded at cost. Subsequent measurement depends on the asset class: Furniture and Fittings are stated at cost less accumulated depreciation and impairment losses. Depreciation is charged on a straight-line basis over the estimated useful life of the assets. Aircraft are carried at revalued amounts, being fair value at the date of revaluation less any subsequent accumulated impairment losses. The aircraft are not depreciated, as the directors consider that the residual value of the aircraft is not materially different from its carrying amount and that the useful economic life cannot be reliably determined. This treatment is reviewed annually to ensure it remains appropriate. Revaluation gains are recognised in other comprehensive income and accumulated in equity under the revaluation reserve, except to the extent they reverse a revaluation decrease of the same asset previously recognised in profit or loss. Revaluation losses are recognised in other comprehensive income to the extent of any previously recognised revaluation gains accumulated in equity for that asset. Any excess revaluation loss beyond the revaluation reserve is recognised in profit or loss. The company reviews the carrying values of tangible assets periodically to ensure they reflect current fair values and assesses for indicators of impairment at each reporting date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	15% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. The value of the company's investment property is considered annually by the directors based on the market value and is supported by periodic revaluations by independent professional valuers. Surpluses or impairments identified are recognised in the profit and loss account. Depreciation is not provided in respect of investment properties.

Investments

Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

4. Employee numbers

The average number of employees during the year was 3 (2025: 3 ).

5. Tangible assets

	Freehold investment property	Fixtures and fittings	Aircraft	Total
	£	£	£	£
Cost
At 1 February 2025	650,000	293	931,083	1,581,376
Additions	–	–	97,203	97,203
	---------	----	-----------	-----------
At 31 January 2026	650,000	293	1,028,286	1,678,579
	---------	----	-----------	-----------
Depreciation
At 1 February 2025	–	22	–	22
Charge for the year	–	41	–	41
	---------	----	-----------	-----------
At 31 January 2026	–	63	–	63
	---------	----	-----------	-----------
Carrying amount
At 31 January 2026	650,000	230	1,028,286	1,678,516
	---------	----	-----------	-----------
At 31 January 2025	650,000	271	931,083	1,581,354
	---------	----	-----------	-----------

Investment property comprises residential properties let to 3rd party tenants. The fair value of the Company’s investment property at 31 January 2026 has been determined by the directors. In arriving at this valuation, the directors considered market evidence of transaction prices for similar properties and other relevant market data available at the reporting date. The valuation has been made on an open market value basis and reflects the directors’ assessment of fair value in light of current market conditions.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 February 2025 and 31 January 2026	4,950,601
	-----------
Impairment
At 1 February 2025 and 31 January 2026	–
	-----------

Carrying amount
At 31 January 2026	4,950,601
	-----------
At 31 January 2025	4,950,601
	-----------

7. Debtors

	2026	2025
	£	£
Trade debtors	464	–
Amounts owed by group undertakings	18,962,690	18,059,703
Other debtors	1,020,964	673,122
	------------	------------
	19,984,118	18,732,825
	------------	------------

8. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Amounts owed to group undertakings	100	100
Social security and other taxes	87,622	169,743
Other creditors	165,189	5,600
	---------	---------
	252,911	175,443
	---------	---------

9. Reserves

Investment property revaluation reserve - This reserve records accumulated fair value adjustments in respect of the investment property recognised through profit or loss and is non-distributable. Profit and loss account - This reserve records retained earnings and accumulated losses.

10. Contingencies

The company has provided security to Coutts & Company in relation to loans taken out by a group company. The total liability due in respect of this loan as at 31 January 2026 was £280,284. No liability is expected to arise from this guarantee.

11. Directors' advances, credits and guarantees

Included within debtors at the year end is a directors loan account of £762,562 (2025: £502,942). Interest of £17,009 (2025: £7,442) was charged at the official rate. The maximum overdrawn balance during the year was £762,562.

12. Related party transactions

At the reporting date, the Company had an outstanding balance of £100 due to group companies. The balance is interest-free, unsecured, and repayable on demand. At the reporting date, the Company had an outstanding balance of £18,962,690 due from a group company. The balance is interest-free, unsecured, and repayable on demand.