FLEXJET LIMITED
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Cash
£1.7m
-10.6% vs 2024
Net assets
-£101m
-18.5% lowest in 3 filed years
Employees
57
+16.3% highest in 3 filed years
Profit before tax
-£16m
-70% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Company made a loss after tax in the year of £15,831,499 (2024: £8,879,672) and has net liabilities at the reporting date of £101,294,592 (2024: £85,463,091). The Company is dependent on continued financial support from OneSky Flight, LLC, a related company formed in the State of Delaware, United States. The Directors have received a letter confirming the Company will receive support for a period of at least 12 months from the date of the financial statements being approved. OneSky Flight, LLC has also confirmed that it has sufficient resources to provide such support and the Directors are satisfied with this position. The Directors therefore consider it to be appropriate to continue preparing the financial statements on a going concern basis.
-
Going-concern uncertainty disclosed
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Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £40,911,831 | £41,080,838 | £39,606,842 | -3.6% | |
| Operating profit | -£14,288,588 | -£9,349,357 | -£15,861,704 | -69.7% | |
| Profit before tax | -£14,295,198 | -£9,346,619 | -£15,891,733 | -70% | |
| Net profit | -£13,985,099 | -£8,879,672 | -£15,831,499 | -78.3% | |
| Cash | £1,216,725 | £1,857,729 | £1,660,504 | -10.6% | |
| Total assets less current liabilities | -£69,454,466 | -£77,534,147 | -£95,683,210 | -23.4% | |
| Net assets | -£76,583,420 | -£85,463,091 | -£101,294,592 | -18.5% | |
| Equity | — | — | — | — | |
| Average employees | 48 | 49 | 57 | +16.3% | |
| Wages | £8,183,508 | £9,024,998 | £9,212,905 | +2.1% | |
| Directors' remuneration | £476,443 | £365,400 | £365,400 | 0% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -34.9% | -22.8% | -40.0% | |
| Net margin | -34.2% | -21.6% | -40.0% | |
| Gearing (liabilities / total assets) | 317.4% | 315.7% | 334.7% | |
| Current ratio | 0.20x | 0.23x | 0.21x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Azets Audit Services Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The Company made a loss after tax in the year of £15,831,499 (2024: £8,879,672) and has net liabilities at the reporting date of £101,294,592 (2024: £85,463,091). The Company is dependent on continued financial support from OneSky Flight, LLC, a related company formed in the State of Delaware, United States. The Directors have received a letter confirming the Company will receive support for a period of at least 12 months from the date of the financial statements being approved. OneSky Flight, LLC has also confirmed that it has sufficient resources to provide such support and the Directors are satisfied with this position. The Directors therefore consider it to be appropriate to continue preparing the financial statements on a going concern basis.”
Group structure
- FLEXJET LIMITED · parent
- Flexjet International, DAC 49%
Significant events
- “In January 2026, the Company's parent company settled a lawsuit with a vendor for liquidated damages related to service issues and delays, resulting in cash proceeds, credits and future discounts. Of the total cash proceeds, US$2.34 million is attributable to the Company and has been recognized in the relevant period in the statement of profit and loss.”
- “In January 2026, the Company expanded its fleet and purchased two rotary aircrafts from a related party that resulted in a cash outflow of £3,569,400.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BEWSEY, Benjamin Edward | Director | 2023-08-17 | Feb 1983 | English |
| RICCI, Kenneth Charles | Director | 2016-07-22 | Sep 1956 | American,Italian |
| TWIDELL, Adam John | Director | 2019-02-27 | Jun 1972 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EUGENE, Marine | Director | 2019-02-27 | 2023-08-17 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Kenneth Charles Ricci | Individual | Significant influence | 2016-07-22 | Active |
Filing timeline
Last 20 of 46 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-21 | AA | accounts | Accounts with accounts type full | |
| 2026-03-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-16 | CH01 | officers | Change person director company with change date | |
| 2026-02-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-01 | AA | accounts | Accounts with accounts type full | |
| 2025-09-19 | CH01 | officers | Change person director company with change date | |
| 2025-04-17 | CH01 | officers | Change person director company with change date | |
| 2025-04-17 | CH01 | officers | Change person director company with change date | |
| 2025-04-17 | CH01 | officers | Change person director company with change date | |
| 2025-03-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-17 | CH01 | officers | Change person director company with change date | |
| 2024-12-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-17 | AA | accounts | Accounts with accounts type full | |
| 2024-03-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-12 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-01-12 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-09-26 | AA | accounts | Accounts with accounts type full | |
| 2023-08-21 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-17 | TM01 | officers | Termination director company with name termination date | |
| 2023-03-13 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.