H4 Aerospace (UK) Limited 04165823 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is aerospace engineering. Digita Accounts Production Advanced 6.30.9574.0 true true true 04165823 2023-01-01 2023-12-31 04165823 2023-12-31 04165823 bus:OrdinaryShareClass1 2023-12-31 04165823 bus:OrdinaryShareClass2 2023-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2023-12-31 04165823 core:ShareCapital 2023-12-31 04165823 core:SharePremium 2023-12-31 04165823 core:CurrentFinancialInstruments 2023-12-31 04165823 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04165823 core:BetweenTwoFiveYears 2023-12-31 04165823 core:WithinOneYear 2023-12-31 04165823 core:FurnitureFittingsToolsEquipment 2023-12-31 04165823 core:AllAssociates 2023-12-31 04165823 bus:SmallEntities 2023-01-01 2023-12-31 04165823 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04165823 bus:FilletedAccounts 2023-01-01 2023-12-31 04165823 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04165823 bus:RegisteredOffice 2023-01-01 2023-12-31 04165823 bus:Director1 2023-01-01 2023-12-31 04165823 bus:Director3 2023-01-01 2023-12-31 04165823 bus:Director6 2023-01-01 2023-12-31 04165823 bus:Director7 2023-01-01 2023-12-31 04165823 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 04165823 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 04165823 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04165823 core:ShareCapital 2023-01-01 2023-12-31 04165823 core:SharePremium 2023-01-01 2023-12-31 04165823 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 04165823 core:AllAssociates 2023-01-01 2023-12-31 04165823 core:AllAssociates core:SaleOrPurchaseGoods 2023-01-01 2023-12-31 04165823 1 2023-01-01 2023-12-31 04165823 countries:EnglandWales 2023-01-01 2023-12-31 04165823 2022-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2022-12-31 04165823 core:ShareCapital 2022-12-31 04165823 core:SharePremium 2022-12-31 04165823 core:FurnitureFittingsToolsEquipment 2022-12-31 04165823 core:AllAssociates 2022-12-31 04165823 2022-01-01 2022-12-31 04165823 2022-12-31 04165823 bus:OrdinaryShareClass1 2022-12-31 04165823 bus:OrdinaryShareClass2 2022-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2022-12-31 04165823 core:ShareCapital 2022-12-31 04165823 core:SharePremium 2022-12-31 04165823 core:CurrentFinancialInstruments 2022-12-31 04165823 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04165823 core:BetweenTwoFiveYears 2022-12-31 04165823 core:WithinOneYear 2022-12-31 04165823 core:FurnitureFittingsToolsEquipment 2022-12-31 04165823 core:AllAssociates 2022-12-31 04165823 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 04165823 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04165823 core:ShareCapital 2022-01-01 2022-12-31 04165823 core:SharePremium 2022-01-01 2022-12-31 04165823 core:AllAssociates 2022-01-01 2022-12-31 04165823 core:AllAssociates core:SaleOrPurchaseGoods 2022-01-01 2022-12-31 04165823 2021-12-31 04165823 core:RetainedEarningsAccumulatedLosses 2021-12-31 04165823 core:ShareCapital 2021-12-31 04165823 core:SharePremium 2021-12-31 04165823 core:AllAssociates 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04165823

H4 Aerospace (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

H4 Aerospace (UK) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

H4 Aerospace (UK) Limited

Company Information

Directors

N J F Knox

RH Wenman

G R Ryan

J C Clemente

Registered office

Blue Court
39 Queensway
Hemel Hempstead
Hertfordshire
HP2 5HE

Accountants

Churchills
16 Copse Wood Way
Northwood
Middlesex
HA6 2UE

 

H4 Aerospace (UK) Limited

(Registration number: 04165823)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

9,471

13,982

Current assets

 

Stocks

5

254,824

72,428

Debtors

6

222,448

374,009

Cash at bank and in hand

 

73,795

111,003

 

551,067

557,440

Creditors: Amounts falling due within one year

7

(416,638)

(476,434)

Net current assets

 

134,429

81,006

Net assets

 

143,900

94,988

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

14,900

14,900

Retained earnings

128,900

79,988

Shareholders' funds

 

143,900

94,988

 

H4 Aerospace (UK) Limited

(Registration number: 04165823)
Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 

.........................................
G R Ryan
Director

 

H4 Aerospace (UK) Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 January 2023

100

14,900

79,988

94,988

Profit for the year

-

-

48,912

48,912

At 31 December 2023

100

14,900

128,900

143,900

Share capital
£

Share premium
£

Retained earnings
£

Total
£

At 1 January 2022

100

14,900

(57,033)

(42,033)

Profit for the year

-

-

137,021

137,021

At 31 December 2022

100

14,900

79,988

94,988

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Blue Court
39 Queensway
Hemel Hempstead
Hertfordshire
HP2 5HE

These financial statements were authorised for issue by the Board on 16 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Key sources of estimation uncertainty

The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% of NBV

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

89,525

89,525

At 31 December 2023

89,525

89,525

Depreciation

At 1 January 2023

75,543

75,543

Charge for the year

4,511

4,511

At 31 December 2023

80,054

80,054

Carrying amount

At 31 December 2023

9,471

9,471

At 31 December 2022

13,982

13,982

5

Stocks

2023
£

2022
£

Work in progress

254,824

72,428

6

Debtors

Current

2023
£

2022
£

Trade debtors

24,314

225,005

Prepayments

150,134

101,004

Other debtors

48,000

48,000

 

222,448

374,009

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

217,763

213,861

Taxation and social security

29,442

95,217

Other creditors

169,433

167,356

416,638

476,434

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

75

75

75

75

Ordinary B of £1 each

25

25

25

25

100

100

100

100

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

35,200

35,200

Later than one year and not later than five years

52,800

88,000

88,000

123,200

The amount of non-cancellable operating lease payments recognised as an expense during the year was £35,200 (2022 - £35,200).

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil per each Ordinary A

-

-

Interim dividend of £Nil per each Ordinary B

-

-

-

-

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

132,628

110,000

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

11

Related party transactions (continued)

Summary of transactions with associates

Eirtech Aviation Services Ltd
 

Income and receivables from related parties

2023

Associates
£

Sale of goods

135,597

2022

Associates
£

Sale of goods

291,058

Expenditure with and payables to related parties

2023

Associates
£

Purchase of goods

87,892

2022

Associates
£

Purchase of goods

30,725

Loans from related parties

2023

Associates
£

Total
£

At start of period

166,024

166,024

Advanced

37,949

37,949

At end of period

203,973

203,973

2022

Associates
£

Total
£

At start of period

50,908

50,908

Advanced

115,116

115,116

At end of period

166,024

166,024

12

Parent and ultimate parent undertaking

The company's immediate parent is Eas Acquisition Co Limited, incorporated in Ireland.