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REGISTERED NUMBER: 11294797 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VIKING AIRPORT EQUIPMENT LTD

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIKING AIRPORT EQUIPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J M M Smeets
J T Bouwman





SECRETARY: Tayler Bradshaw Limited





REGISTERED OFFICE: Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX





REGISTERED NUMBER: 11294797 (England and Wales)





ACCOUNTANTS: Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,000 17,499
Tangible assets 5 255,018 245,702
269,018 263,201

CURRENT ASSETS
Stocks 561,238 530,316
Debtors 6 413,420 672,356
Cash at bank 50,828 163,662
1,025,486 1,366,334
CREDITORS
Amounts falling due within one year 7 634,682 455,461
NET CURRENT ASSETS 390,804 910,873
TOTAL ASSETS LESS CURRENT LIABILITIES 659,822 1,174,074

CREDITORS
Amounts falling due after more than one
year

8

(1,717,611

)

(1,515,972

)

PROVISIONS FOR LIABILITIES - (2,752 )
NET LIABILITIES (1,057,789 ) (344,650 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,057,790 ) (344,651 )
SHAREHOLDERS' FUNDS (1,057,789 ) (344,650 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





J T Bouwman - Director


VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Viking Airport Equipment Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern and the impact of coronavirus
The company continued to be materially and adversely affected by the effects of the COVID-19 pandemic and its impact on capital spend along with, in the United Kingdom, a slowing down of cargo volumes for the majority of 2023.

As in the previous year, due to the company predominantly supplying the aviation industry, the pandemic still continued to affect the financial performance this year. Whilst passenger volumes had returned to pre-Covid levels, there was a lag in the airlines placing contracts for new airport equipment. There was a significant shift in this towards the end of the year with many more new contracts being quoted for and orders received.

The Directors can confirm that the order intake has continued to be at Pre-Covid levels throughout 2024 to date and is expected to continue to improve into 2025 resulting in a return to profitability. With this, coupled with the support financially and with orders from The SMA Group Companies; to do subcontract work, the Directors are of the opinion that the company will continue to operate as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 5 34,999 35,004
AMORTISATION
At 1 January 2023 5 17,500 17,505
Charge for year - 3,499 3,499
At 31 December 2023 5 20,999 21,004
NET BOOK VALUE
At 31 December 2023 - 14,000 14,000
At 31 December 2022 - 17,499 17,499

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 11,046 615,127 626,173
Additions - 63,214 63,214
Disposals - (9,213 ) (9,213 )
At 31 December 2023 11,046 669,128 680,174
DEPRECIATION
At 1 January 2023 3,927 376,544 380,471
Charge for year 1,105 48,558 49,663
Eliminated on disposal - (4,978 ) (4,978 )
At 31 December 2023 5,032 420,124 425,156
NET BOOK VALUE
At 31 December 2023 6,014 249,004 255,018
At 31 December 2022 7,119 238,583 245,702

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 312,971 582,648
Other debtors 100,449 89,708
413,420 672,356

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 49,000 49,000
Trade creditors 187,033 244,095
Taxation and social security 65,711 8,318
Other creditors 332,938 154,048
634,682 455,461

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans 73,500 122,500
Other creditors 1,644,111 1,393,472
1,717,611 1,515,972

VIKING AIRPORT EQUIPMENT LTD (REGISTERED NUMBER: 11294797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. OTHER FINANCIAL COMMITMENTS

The company entered into a new premises lease agreement for ten years in the financial year ended 31 December 2021. The company has future operating lease commitments of £108,000 per annum for the remaining years of the premises lease agreement.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of SMA B.V., a company incorporated in The Netherlands.The registered office of the parent company is located in Nuenen, The Netherlands. The principal place of business is Industrieweg 2, 5731 HR, Mierlo, The Netherlands.

The consolidated accounts can be located at The Netherlands Chamber of Commerce Business Register.

There is no individual controlling party.