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REGISTERED NUMBER: SC410572 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2021

for

Chady Aero Development Ltd

Chady Aero Development Ltd (Registered number: SC410572)






Contents of the Financial Statements
for the Year Ended 30 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Chady Aero Development Ltd

Company Information
for the Year Ended 30 November 2021







DIRECTORS: J N M Page
H C M Page
D M I P S Roth Le Gentil





SECRETARY: H C M Page





REGISTERED OFFICE: 6 Logie Mill
Edinburgh
Lothian
EH7 4HG





REGISTERED NUMBER: SC410572 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

Chady Aero Development Ltd (Registered number: SC410572)

Balance Sheet
30 November 2021

30.11.21 30.11.20
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,892,520 2,377,508

CURRENT ASSETS
Debtors 5 138,476 118,582
Cash at bank 140,283 161,167
278,759 279,749
CREDITORS
Amounts falling due within one year 6 2,384,471 2,872,891
NET CURRENT LIABILITIES (2,105,712 ) (2,593,142 )
TOTAL ASSETS LESS CURRENT LIABILITIES (213,192 ) (215,634 )

CREDITORS
Amounts falling due after more than one year 7 294,307 96,171
NET LIABILITIES (507,499 ) (311,805 )

CAPITAL AND RESERVES
Called up share capital 8 20,000 20,000
Retained earnings 9 (527,499 ) (331,805 )
SHAREHOLDERS' FUNDS (507,499 ) (311,805 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf by:





H C M Page - Director


Chady Aero Development Ltd (Registered number: SC410572)

Notes to the Financial Statements
for the Year Ended 30 November 2021

1. STATUTORY INFORMATION

Chady Aero Development Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the continuing support of the creditors.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Chady Aero Development Ltd (Registered number: SC410572)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

2. ACCOUNTING POLICIES - continued

Investments
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2020 2,377,508
Disposals (484,988 )
At 30 November 2021 1,892,520
NET BOOK VALUE
At 30 November 2021 1,892,520
At 30 November 2020 2,377,508

5. DEBTORS
30.11.21 30.11.20
£    £   
Amounts falling due within one year:
Other debtors 17,282 43,291

Amounts falling due after more than one year:
Other debtors 121,194 75,291

Aggregate amounts 138,476 118,582

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Trade creditors - 3,720
Other creditors 2,384,471 2,869,171
2,384,471 2,872,891

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.21 30.11.20
£    £   
Other creditors 294,307 96,171

Chady Aero Development Ltd (Registered number: SC410572)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2021

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.21 30.11.20
value: £    £   
20,000 Ordinary £1 20,000 20,000

9. RESERVES
Retained
earnings
£   

At 1 December 2020 (331,805 )
Deficit for the year (195,694 )
At 30 November 2021 (527,499 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed two directors £2,381,521 as at 30 November 2021 (2020: the company owed two directors £2,886,221 and a director owed £15,436 to the company).

11. RELATED PARTY DISCLOSURES









Type of Transaction

Movement
in the year
ended
30.11.21


Movement in the
year ended
30.11.20
Balance
receivable
from/(payable to)
related party as at
30.11.21
Balance
receivable
from/(payable to)
related party as at
30.11.20
£ £ £ £

Penlaw International Law Firm Professional fee 19,866 21,433 nil nil
Directors fees 4,000 4,000 nil nil

Shareholder Loan nil 2,864,905 nil nil

Natterbox Limited Investment nil nil 1,205,190 1,205,190

Aero Engine Finance LLP Investment (484,989) nil 687,330 1,172,319
Current account (198,136) 76,954 (294,307) (96,171)
Share of profit/(loss) (198,136) 76,954 nil nil

The director of the company, is the director of Penlaw International Law Firm.

The director of the company, is related to a director of Natterbox Limited.

Chady Aero Development Limited is a member of Aero Engine Finance LLP.

12. ULTIMATE CONTROLLING PARTY

The controlling party is D Roth Le Gentil, by virtue of her shareholding in the company.