Company registration number 10142530 (England and Wales)
AERO SERVICES.GLOBAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
AERO SERVICES.GLOBAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
AERO SERVICES.GLOBAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,538
83,167
Current assets
Debtors
4
4,975,340
2,843,123
Cash at bank and in hand
-
0
40,109
4,975,340
2,883,232
Creditors: amounts falling due within one year
5
(4,569,189)
(3,191,179)
Net current assets/(liabilities)
406,151
(307,947)
Net assets/(liabilities)
469,689
(224,780)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
469,688
(224,781)
Total equity
469,689
(224,780)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
Mr S C Weston
Director
Company Registration No. 10142530
AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Aero Services.Global Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o A2e Industries Limited, No. 1 Marsden Street, Manchester, United Kingdom, M2 1HW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Prior period adjustment

Prior year adjustment relates to a reallocation of management charge receivable between administration expense and other operating income.

The impact to profit is £nil.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Straight line
Fixtures and fittings
20% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
10
AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
79,484
42,136
121,620
Additions
1,971
3,922
5,893
Disposals
(681)
-
0
(681)
At 31 March 2024
80,774
46,058
126,832
Depreciation and impairment
At 1 April 2023
19,590
18,863
38,453
Depreciation charged in the year
15,929
9,082
25,011
Eliminated in respect of disposals
(170)
-
0
(170)
At 31 March 2024
35,349
27,945
63,294
Carrying amount
At 31 March 2024
45,425
18,113
63,538
At 31 March 2023
59,894
23,273
83,167
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,805,734
2,796,875
Other debtors
169,606
46,248
4,975,340
2,843,123
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
114,183
48,677
Amounts owed to group undertakings
3,456,511
2,533,618
Taxation and social security
759,101
487,216
Other creditors
239,394
121,668
4,569,189
3,191,179

Amounts owed to group undertakings are repayable on demand and non-interest bearing.

AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Helen Davies
Statutory Auditor:
Azets Audit Services
8
Financial commitments, guarantees and contingent liabilities

The company has provided an unlimited guarantee along with fellow group companies under common control regarding the investment made by Realta Investments Ireland DAC relating to Project Zephyr. This security given contains fixed and floating charges and a negative pledge. These charges were satisified post-year end on 8 April 2024.

9
Related party transactions

The company has taken advantage of the exemption permitted under Section 33 'Related Party Disclosures' paragraph 33.1A from disclosing transactions with the ultimate parent company, parent company and other 100% subsidiary companies.

10
Ultimate controlling party

The company's immediate parent company is ASG Industrial Holdings Limited.

 

Copies of the consolidated financial statements of Aero Services Global Group Limited, which is both the smallest and largest group for which consolidated financial statements are prepared, may be obtained from No.1 Marsden Street, Manchester, England M2 1HW.

 

The ultimate controlling party of Aero Services Global Limited is Realta Investments Ireland DAC, which has the majority of the voting rights of Aero Services Global Group Limited.

AERO SERVICES.GLOBAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
11
Prior period adjustment

Prior year adjustment relates to a reallocation of management charge receivable between administration expense and other operating income.

The impact to profit is £nil.

Changes to the profit and loss account
Adjustment
Period ended 31 March 2023
£
Administrative expenses
(1,894,494)
Other operating income
1,894,494
Loss for the financial period
-
2024-03-312023-04-01false21 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedApadana Mangement LimitedMr J D AldridgeMr A E GreenoughMr G RichardsonMr S C WestonMr S A AmiriMr S BiddlestoneMr J MacKenziefalsefalse101425302023-04-012024-03-31101425302024-03-31101425302023-03-3110142530core:PlantMachinery2024-03-3110142530core:FurnitureFittings2024-03-3110142530core:PlantMachinery2023-03-3110142530core:FurnitureFittings2023-03-3110142530core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3110142530core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3110142530core:CurrentFinancialInstruments2024-03-3110142530core:CurrentFinancialInstruments2023-03-3110142530core:ShareCapital2024-03-3110142530core:ShareCapital2023-03-3110142530core:RetainedEarningsAccumulatedLosses2024-03-3110142530core:RetainedEarningsAccumulatedLosses2023-03-3110142530bus:Director52023-04-012024-03-3110142530core:PlantMachinery2023-04-012024-03-3110142530core:FurnitureFittings2023-04-012024-03-31101425302022-04-012023-03-3110142530core:PlantMachinery2023-03-3110142530core:FurnitureFittings2023-03-31101425302023-03-3110142530core:WithinOneYear2024-03-3110142530core:WithinOneYear2023-03-3110142530bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110142530bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110142530bus:FRS1022023-04-012024-03-3110142530bus:Audited2023-04-012024-03-3110142530bus:Director12023-04-012024-03-3110142530bus:Director22023-04-012024-03-3110142530bus:Director32023-04-012024-03-3110142530bus:Director42023-04-012024-03-3110142530bus:Director62023-04-012024-03-3110142530bus:Director72023-04-012024-03-3110142530bus:Director82023-04-012024-03-3110142530bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP