The aircraft aren't all that old - there is a fair old mix but at least they are all owned by the same chap who does know an awful lot about them.
The main reasons that the place is cheap are related to low overheads.
The whole place was built with EU and WDA money because they decided that Mid Wales needed an airport and a local company was willing to build the runway for its own aircraft Ops. The place attracts a very low rent for the current sole operator. He has little in the way of maintenance and operating costs on the new built buildings.
The owner and his wife run the business themselves which reduces management costs. There is a very healthy flying club at the school due to the remoteness of alternative clubs and this helps cross subsidise aircraft utilisation.
Trust me - the owners make a healthy profit from the place even though the prices are rock bottom. I learnt, flew and worked there quite happily. I never had one problem with the aircraft maintenance which is all done on site in a very well run hangar.
It might not suit all, the runway is small and challenging in some respects thus first solo might take a little longer than normal. Otherwise its been pumping out more PPL than a lot of other big name schools for the last decade.
WWW
ps My old Mum keeps threatening to do B&B for Flying School students so if you go to Welshpool you might even end up in Weasley Towers... scary!