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REGISTERED NUMBER: 10624729 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

Colne Valley Aviation Limited

Colne Valley Aviation Limited (Registered number: 10624729)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Colne Valley Aviation Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: K T Barber





REGISTERED OFFICE: 5 Grange Way
Colchester
Essex
CO2 8HG





REGISTERED NUMBER: 10624729 (England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Colne Valley Aviation Limited (Registered number: 10624729)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 573,019 573,019

CURRENT ASSETS
Debtors 5 1,319,083 1,533,474
Cash at bank and in hand 18 18
1,319,101 1,533,492
CREDITORS
Amounts falling due within one year 6 2,942,214 3,156,405
NET CURRENT LIABILITIES (1,623,113 ) (1,622,913 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,050,094 ) (1,049,894 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (1,050,095 ) (1,049,895 )
SHAREHOLDERS' FUNDS (1,050,094 ) (1,049,894 )

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 director and authorised for issue on 30 August 2024 and were signed by:





K T Barber - Director


Colne Valley Aviation Limited (Registered number: 10624729)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Colne Valley Aviation 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.

Going concern
Although the company had net current liabilities of £1,623,113 (2022: £1,622,913) at year end, included within creditors due within one year is an amount of £2,940,214 (2022: £3,154,555) owed to the company's parent company, Colne Valley Electrical Limited. The company's parent company has undertaken to provide continuing financial support so that the company can pay its debts as they fall due.

In view of the above, the director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and the company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Colne Valley Aviation Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In preparing these financial statements the director has made the following significant judgements and estimates:

Investment in subsidiaries
The director considers on an annual basis whether there is any indication of impairment in respect of the company's investments in subsidiaries. Where an indication of impairment is identified, the director estimates the recoverable values of the subsidiaries in order to determine any necessary impairment provisions. The recoverable values of subsidiaries is a source of significant estimation uncertainty.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment where applicable.

Colne Valley Aviation Limited (Registered number: 10624729)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 573,019
NET BOOK VALUE
At 30 November 2023 573,019
At 30 November 2022 573,019

Colne Valley Aviation Limited (Registered number: 10624729)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. FIXED ASSET INVESTMENTS - continued

The above opening and closing cost is stated after the 2021 impairment of £993,677.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,318,927 1,533,318
Other debtors 156 156
1,319,083 1,533,474

Amounts due from group undertakings are stated after provisions for impairment of £55,877 in both 2022 and 2023.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,940,214 3,154,555
Other creditors 2,000 1,850
2,942,214 3,156,405

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Mortimer FCA FCCA (Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited

9. POST BALANCE SHEET EVENTS

On 27 June 2024 Colne Valley Aviation Limited and its subsidiaries were demerged from the group headed up by Colne Valley Electrical Limited.

10. CONTROLLING PARTY

The controlling party is Colne Valley Electrical Limited whose registered office is at 5 Grange Way, Colchester, Essex, CO2 8HG.