Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr J S Hartley 05/11/2003 Mrs M G Hartley 05/11/2003 21 January 2025 The principal activity of the company was that of the provision of airline services. 04138443 2024-04-30 04138443 bus:Director1 2024-04-30 04138443 bus:Director2 2024-04-30 04138443 2023-04-30 04138443 core:CurrentFinancialInstruments 2024-04-30 04138443 core:CurrentFinancialInstruments 2023-04-30 04138443 core:ShareCapital 2024-04-30 04138443 core:ShareCapital 2023-04-30 04138443 core:RetainedEarningsAccumulatedLosses 2024-04-30 04138443 core:RetainedEarningsAccumulatedLosses 2023-04-30 04138443 core:OtherPropertyPlantEquipment 2023-04-30 04138443 core:OtherPropertyPlantEquipment 2024-04-30 04138443 bus:OrdinaryShareClass1 2024-04-30 04138443 2023-05-01 2024-04-30 04138443 bus:FilletedAccounts 2023-05-01 2024-04-30 04138443 bus:SmallEntities 2023-05-01 2024-04-30 04138443 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04138443 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04138443 bus:Director1 2023-05-01 2024-04-30 04138443 bus:Director2 2023-05-01 2024-04-30 04138443 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-05-01 2024-04-30 04138443 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-05-01 2024-04-30 04138443 2022-05-01 2023-04-30 04138443 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 04138443 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 04138443 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04138443 (England and Wales)

L39 AVIATION LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

L39 AVIATION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

L39 AVIATION LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
L39 AVIATION LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
DIRECTORS Mr J S Hartley
Mrs M G Hartley
SECRETARY Mrs M G Hartley
REGISTERED OFFICE Spring Vale House
Spring Vale Road
Darwen
BB3 2ES
United Kingdom
COMPANY NUMBER 04138443 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
L39 AVIATION LTD

BALANCE SHEET

AS AT 30 APRIL 2024
L39 AVIATION LTD

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 769,014 805,482
769,014 805,482
Current assets
Debtors 4 5,235 10,278
Cash at bank and in hand 4,098 4,843
9,333 15,121
Creditors: amounts falling due within one year 5 ( 1,448,970) ( 1,271,741)
Net current liabilities (1,439,637) (1,256,620)
Total assets less current liabilities (670,623) (451,138)
Provision for liabilities ( 192,254) ( 195,062)
Net liabilities ( 862,877) ( 646,200)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 862,879 ) ( 646,202 )
Total shareholder's deficit ( 862,877) ( 646,200)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of L39 Aviation Ltd (registered number: 04138443) were approved and authorised for issue by the Board of Directors on 21 January 2025. They were signed on its behalf by:

Mr J S Hartley
Director
L39 AVIATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
L39 AVIATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

L39 Aviation Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Spring Vale House, Spring Vale Road, Darwen, BB3 2ES, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.

The company is a wholly owned subsidiary of Burnhart Limited and continues to be supported by the business in the form of intercompany loan accounts.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 10 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 909,757 909,757
At 30 April 2024 909,757 909,757
Accumulated depreciation
At 01 May 2023 104,275 104,275
Charge for the financial year 36,468 36,468
At 30 April 2024 140,743 140,743
Net book value
At 30 April 2024 769,014 769,014
At 30 April 2023 805,482 805,482

4. Debtors

2024 2023
£ £
Trade debtors 0 2,762
Prepayments 4,262 2,444
VAT recoverable 973 5,072
5,235 10,278

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 3,620 2,041
Amounts owed to Group undertakings 1,337,159 1,259,026
Accruals 108,191 10,674
1,448,970 1,271,741

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares shares of £ 1.00 each 2 2

7. Related party transactions

At the balance sheet date an amount of £1,337,159 (2023: £1,259,026) was owed by the company to Burnhart Ltd, the parent company.

8. Ultimate controlling party

Parent Company:

Burnhart Limited
C/O PM+M, New Century House, Greenbank Technology Park, Challenge Way, Blackburn, Lancashire, England, BB1 5QB