Company No: 00449314 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	171,752		198,333
Tangible assets	4	6,921,377		6,973,909
Investments	5	1		1
		7,093,130		7,172,243
Current assets
Stocks		69,474		74,339
Debtors	6	1,767,000		1,557,467
Cash at bank and in hand		791,050		588,522
		2,627,524		2,220,328
Creditors: amounts falling due within one year	7	( 806,795)		( 1,789,016)
Net current assets		1,820,729		431,312
Total assets less current liabilities		8,913,859		7,603,555
Creditors: amounts falling due after more than one year	8	( 922,204)		0
Provision for liabilities		( 13,962)		( 19,271)
Net assets		7,977,693		7,584,284
Capital and reserves
Called-up share capital		6,355,954		6,355,954
Profit and loss account		1,621,739		1,228,330
Total shareholder's funds		7,977,693		7,584,284

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Aldenham Aviation Limited (registered number: 00449314) were approved and authorised for issue by the Board of Directors on 21 October 2025. They were signed on its behalf by:

Hon J J M Allen-Back Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aldenham Aviation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Elstree Aerodrome, Borehamwood, Herts, WD6 3AR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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 value added tax, returns, rebates, and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	0 - 30 years straight line
Plant and machinery	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	5 - 10 years straight line
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for the service, the excess is recognised as a prepayment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		18

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	245,360		245,360
At 31 March 2025	245,360		245,360
Accumulated amortisation
At 01 April 2024	47,027		47,027
Charge for the financial year	26,581		26,581
At 31 March 2025	73,608		73,608
Net book value
At 31 March 2025	171,752		171,752
At 31 March 2024	198,333		198,333

Goodwill arose from the transfer of business of Elstree Aerodrome LLP to the company.

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£		£
Cost
At 01 April 2024	6,950,012		96,667		27,700		39,058		2,522		7,115,959
Additions	7,200		8,250		2,105		0		0		17,555
At 31 March 2025	6,957,212		104,917		29,805		39,058		2,522		7,133,514
Accumulated depreciation
At 01 April 2024	82,301		39,347		4,040		15,298		1,064		142,050
Charge for the financial year	42,604		16,195		6,310		3,549		1,429		70,087
At 31 March 2025	124,905		55,542		10,350		18,847		2,493		212,137
Net book value
At 31 March 2025	6,832,307		49,375		19,455		20,211		29		6,921,377
At 31 March 2024	6,867,711		57,320		23,660		23,760		1,458		6,973,909

5. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	1		1
At 31 March 2025	1		1
Carrying value at 31 March 2025	1		1
Carrying value at 31 March 2024	1		1

£1 represents the share capital in Aldenham Aviation 2 Limited.

6. Debtors

	2025		2024
	£		£
Trade debtors	269,234		499,376
Prepayments	55,717		259,610
Other debtors	1,442,049		798,481
	1,767,000		1,557,467

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	27,733		959,175
Trade creditors	115,499		173,397
Taxation and social security	212,646		178,217
Other creditors	450,917		478,227
	806,795		1,789,016

The bank loans in the company total £949,937 (2024 - £959,175) and are secured on the company assets. £27,733 (2024 - £959,175) is due less than one year after the year end.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	922,204		0

The bank loans in the company total £949,937 (2024 - £959,175) and are secured on the company assets. £922,204 (2024 - Nil) is due more than one year after the year end.

9. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Loans made to directors	27,211		0