Aerial Collective Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13988911

Aerial Collective Limited

Unaudited financial statements

31 January 2026

Aerial Collective Limited

Statement of financial position

31 January 2026

	2026		2025
			(restated)
Note	£	£	£	£

Fixed assets

Tangible assets	5		9,197		8,339

Current assets

Debtors	6	692,680	416,629
Cash at bank and in hand		405,277	396,265
		-----------	---------
		1,097,957	812,894

Creditors: Amounts falling due within one year	7	( 1,043,033)		( 768,093)
		-----------		---------
Net current assets			54,924		44,801
			-------		-------
Total assets less current liabilities			64,121		53,140

Provisions

Taxation including deferred tax	( 1,879)	( 1,573)
	-------	-------
Net assets	62,242	51,567
	-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	62,142	51,467
	-------	-------
Shareholders funds	62,242	51,567
	-------	-------

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 income and retained earnings 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 .

Aerial Collective Limited

Statement of financial position (continued)

31 January 2026

These financial statements were approved by the board of directors and authorised for issue on 30 October 2026 , and are signed on behalf of the board by:

A Romain

Director

Company registration number: 13988911

Aerial Collective 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 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 directors consider that there are no estimates or assumptions that have a significant effect on the financial statements.

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. Revenue from the sale of services is recognised when the service has been satisfactorily provided, the amount can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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: Plant and Machinery 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. 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:

	Plant and machinery	-	25% reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of employees during the year was 2 (2025: 2 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 February 2025 (as restated)	9,900
Additions	3,670
	-------
At 31 January 2026	13,570
	-------
Depreciation
At 1 February 2025	1,561
Charge for the year	2,812
	-------
At 31 January 2026	4,373
	-------
Carrying amount
At 31 January 2026	9,197
	-------
At 31 January 2025	8,339
	-------

6. Debtors

	2026	2025
		(restated)
	£	£
Trade debtors	288	–
Amounts owed by group undertakings	691,208	415,886
Other debtors	1,184	743
	---------	---------
	692,680	416,629
	---------	---------

7. Creditors: Amounts falling due within one year

	2026	2025
		(restated)
	£	£
Trade creditors	–	1,200
Amounts owed to group undertakings	510,325	317,975
Social security and other taxes	58,178	65,901
Other creditors	474,530	383,017
	-----------	---------
	1,043,033	768,093
	-----------	---------

8. Prior period errors

Trade creditors reported in the comparative period were overstated due to amounts owed to group undertakings not being reclassified. A restatement has been made to reflect these. The tables below show the impact of this adjustment to trade creditors, amounts owed to group undertakings and amounts owed by group undertakings.

	£
Trade creditors at 31 January 2025 per filed accounts	196,769
Movement of group and associated balances	(195,569)
	---------
Restated trade creditors per 2025 comparatives	1,200
	---------

	£
Amounts owed to group undertakings at 31 January 2025 per filed accounts	154,375
Movement of group balances from trade creditors	163,600
	---------
Restated amounts owed to group undertakings per 2025 comparatives	317,975
	---------

	£
Amounts owed by group undertakings at 31 January 2025 per filed accounts	447,796
Movement of group balances from trade creditors	(31,910)
	---------
Restated amounts owed by group undertakings per 2025 comparatives	415,886
	---------

9. 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.

10. Related party transactions

At the reporting date, the Company had an outstanding balance of £510,325 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 £692 due to a connected company. The balance is interest-free, unsecured, and repayable on demand. At the reporting date, the Company had an outstanding balance of £691,208 due from a group company. The balance is interest-free, unsecured, and repayable on demand.

11. Controlling party

The ultimate parent company is Aircraft Restoration Company Limited whose registered office is Building 425 Duxford Airfield, Duxford, Cambridge, CB22 4QR.