Accounts 2021 - 2022
Welcome to Strathaven Airfield Ltd's latest set of annual accounts.
On reflection at the end of every year, it becomes apparent there has been a particular theme. This year, it has obviously been inflation.
We have done our best to keep costs down, but in recent months it has become obvious that this is becoming a losing battle. Fortunately, we have been well placed until now - mainly due to fortuitous timing.
In October 2021, a few months before war broke out in Ukraine, we signed a three-year fixed price contract for electricity. And in 2020, we installed solar panels and a storage battery. So we have been spared the huge surge in power prices that have crippled many businesses. There is no price cap on commercial contracts.
But as the accounts show, we have had 10% increases in insurance and water bills.
Nevertheless, taking out the cost of resurfacing the driveway, we have managed to keep overall costs roughly the same.
The airfield accounts remain healthy, with members funds of £26,000, of which £8,000 is in cash. Our policy going forward is to try and aim for at least £10,000 available in cash at any point in the year. This will give us a buffer in case of any unforseen circumstances, and the resources to pay up front for any grant-funded projects that require receipts before the the grant is released.
Finally, it will be noted that the airfield rent remains at £3,600 per month, which it has been since January 2019. If it had been increased with inflation, the rent would now be £4,583 - almost £1,000 a month more! This rent freeze has thus been a signifcant part of keeping costs down.
To view the full accounts, please click here