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REGISTERED NUMBER: 11381201 (England and Wales)












KAYAN AVIATION HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






KAYAN AVIATION HOLDINGS LIMITED (REGISTERED NUMBER: 11381201)

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










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


KAYAN AVIATION HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Dr U N Nayak
Mr A S Kathuria
Mr N V P Raman
Mr M M Ansari





SECRETARY: Mr S D Moonjely





REGISTERED OFFICE: 1 Putney High Street
London
SW15 1SZ





REGISTERED NUMBER: 11381201 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KAYAN AVIATION HOLDINGS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kayan Aviation Holdings Limited for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Kayan Aviation Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kayan Aviation Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Kayan Aviation Holdings Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kayan Aviation Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kayan Aviation Holdings Limited. You consider that Kayan Aviation Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kayan Aviation Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE


25 September 2024

KAYAN AVIATION HOLDINGS LIMITED (REGISTERED NUMBER: 11381201)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,618,542 2,618,542

CURRENT ASSETS
Debtors 5 34,384 34,384
Cash at bank 11,578 11,698
45,962 46,082
CREDITORS
Amounts falling due within one year 6 1,957,256 1,978,660
NET CURRENT LIABILITIES (1,911,294 ) (1,932,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

707,248

685,964

CAPITAL AND RESERVES
Called up share capital 7 1,028 1,028
Share premium 8 290,509 290,509
Retained earnings 8 415,711 394,427
SHAREHOLDERS' FUNDS 707,248 685,964

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.

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 31 July 2024 and were signed on its behalf by:





Dr U N Nayak - Director


KAYAN AVIATION HOLDINGS LIMITED (REGISTERED NUMBER: 11381201)

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


1. STATUTORY INFORMATION

Kayan Aviation Holdings 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Kayan Aviation Holdings 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.

Turnover
Turnover represents the fair value of management fees received or receivable for rendering services net of value added tax, trade discounts and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

KAYAN AVIATION HOLDINGS LIMITED (REGISTERED NUMBER: 11381201)

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


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 2,618,542
NET BOOK VALUE
At 31 December 2023 2,618,542
At 31 December 2022 2,618,542

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings 33,615 33,615
Other debtors 769 769
34,384 34,384

Included in amount due form group undertakings within one year, is a loan of $33,615 (2022: $33,615) due from Kayan Aviation Leasing DAC a connected company incorporated in Ireland.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 40 40
Amounts owed to group undertakings 1,289,489 1,310,893
Proton Aviation Capital 300 300
Directors' current accounts 664,727 664,727
Accrued expenses 2,700 2,700
1,957,256 1,978,660

Included in amount due to group undertaking is a loan of £780,814 (2022: £777,864) due to Kayan Aviation Capital Ltd and a loan of £508,675 (2022: £533,029) due to Plane Business Limited.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
86,000 Ordinary A £0.01 860 860
16,798 Ordinary B £0.01 168 168
1,028 1,028

KAYAN AVIATION HOLDINGS LIMITED (REGISTERED NUMBER: 11381201)

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


7. CALLED UP SHARE CAPITAL - continued

The share capital of the company were incorrectly stated in the financial statements. The company issued 86,000 ordinary shares A, 16,798 ordinary shares B with a nominal value of £0.01 each, but these were incorrectly recorded at £1 each. The company also issued 5,667 ordinary shares C but these shares were cancelled. As a result, the share capital was overstated by £107,437, which was premium paid on the shares and was adjusted accordingly to the share premium account.

8. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 January 2023 394,427 290,509 684,936
Profit for the year 21,284 21,284
At 31 December 2023 415,711 290,509 706,220

9. ULTIMATE CONTROLLING PARTY

The controlling party is Dr U N Nayak.