Warbird Experiences Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02415708 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Warbird Experiences Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P R Monk

Mrs L S Monk

A C Monk

REGISTERED OFFICE:

Hangar 528

Biggin Hill Airport

Nr Westerham

Kent

TN16 3BN

REGISTERED NUMBER:

02415708 (England and Wales)

ACCOUNTANTS:

Berry & Company

Chartered Accountants

Sterling House

7 Ashford Road

Maidstone

Kent

ME14 5BJ

FIXED ASSETS

Tangible assets

4

5,379,765

3,938,370

Investments

5

1,288,010

1,288,010

6,667,775

5,226,380

CURRENT ASSETS

Stocks

131,450

142,500

Debtors

6

2,050,668

2,124,427

Cash at bank and in hand

2,663,174

581,932

4,845,292

2,848,859

CREDITORS

Amounts falling due within one year

7

4,543,313

2,603,567

NET CURRENT ASSETS

301,979

245,292

TOTAL ASSETS LESS CURRENT LIABILITIES

6,969,754

5,471,672

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,969,654

5,471,572

6,969,754

5,471,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2022 and were signed on its behalf by:

P R Monk - Director

1.	STATUTORY INFORMATION

Warbird Experiences 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.

Income recognition

Turnover represents the fair value of consideration received or receivable derived from the rendering of services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

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

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

7,027,641

Additions

2,950,900

Disposals

(1,500,000

)

At 31 December 2021

8,478,541

DEPRECIATION

At 1 January 2021

3,089,271

Charge for year

9,505

At 31 December 2021

3,098,776

NET BOOK VALUE

At 31 December 2021

5,379,765

At 31 December 2020

3,938,370

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2021

2020

£

£

Investment in related party

1,288,010

1,288,010

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

423,670

91,752

Amounts owed by group undertakings

1,460,671

1,460,671

Other debtors

166,327

572,004

2,050,668

2,124,427

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

810,625

397,804

Taxation and social security

186,180

637,414

Other creditors

3,546,508

1,568,349

4,543,313

2,603,567

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P R Monk.