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REGISTERED NUMBER: 05301982 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FAL AVIATION UK LTD.

FAL AVIATION UK LTD. (REGISTERED NUMBER: 05301982)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FAL AVIATION UK LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: F M S Al Athel
B F M Al Athel
M F M Al Athel
T F M Al Athel





REGISTERED OFFICE: London Ashford Airport
Lydd Airport
LYDD
Kent
TN29 9QL





REGISTERED NUMBER: 05301982 (England and Wales)





AUDITORS: McCabe Ford Williams
Chartered Accountants and Statutory Auditors
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

FAL AVIATION UK LTD. (REGISTERED NUMBER: 05301982)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -

CURRENT ASSETS
Debtors 5 22,693 25,484
Cash at bank 1,790 1,506
24,483 26,990
CREDITORS
Amounts falling due within one year 6 1,268,883 1,261,300
NET CURRENT LIABILITIES (1,244,400 ) (1,234,310 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,244,400

)

(1,234,310

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (1,244,500 ) (1,234,410 )
SHAREHOLDERS' FUNDS (1,244,400 ) (1,234,310 )

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 30 September 2024 and were signed on its behalf by:





B F M Al Athel - Director


FAL AVIATION UK LTD. (REGISTERED NUMBER: 05301982)

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

1. STATUTORY INFORMATION

Fal Aviation UK 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on 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.

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.

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.

FAL AVIATION UK LTD. (REGISTERED NUMBER: 05301982)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 9,047 32,213 11,094 52,354
DEPRECIATION
At 1 January 2023
and 31 December 2023 9,047 32,213 11,094 52,354
NET BOOK VALUE
At 31 December 2023 - - - -
At 31 December 2022 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 19,087 10,840
Amounts owed by group undertakings - 11,274
VAT 3,606 3,086
Prepayments - 284
22,693 25,484

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 161 149
Amounts owed to group undertakings 1,265,472 1,257,900
Accrued expenses 3,250 3,251
1,268,883 1,261,300

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

Jonathan Fullarton BSc (Hons) FCA (Senior Statutory Auditor)
for and on behalf of McCabe Ford Williams

FAL AVIATION UK LTD. (REGISTERED NUMBER: 05301982)

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

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed an amount of £1,257,900 (2022 - £1,257,900) to Lydd Holdings Limited, the parent company. The balance is interest free, unsecured and payable on demand.

At the balance sheet date the company owed an amount of £7,572 (2022 - £11,274 due from) to London Ashford Airport Limited, a fellow subsidiary. The balance is interest free, unsecured and payable on demand.

10. PARENT COMPANY

The parent company is Lydd Holdings Limited, the registered address of which is Geneva Place, Waterfront Drive, PO Box 3469, Road Town, Tortola, British Virgin Islands.

The shares in Lydd Holdings Limited are owned by F M S Al Athel.

11. GOING CONCERN

The financial statements have been prepared on a going concern basis. This basis may not be appropriate because, at 31 December 2023, the liabilities of the company exceed the assets of the company by £1,244,400 (2022 - £1,234,310) and, during the year, the company made a loss of £10,090 (2022 - £6,759). Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide any liabilities which might arise and to reclassify fixed assets and long term liabilities. The going concern basis has been applied as a result of the fact that the company can rely on the financial support of the parent company and the ultimate controlling party.