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REGISTERED NUMBER: 04494889 (England and Wales)











STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AVIA TECHNIQUE LIMITED

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


AVIA TECHNIQUE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C J Wright
R Sims





SECRETARY: C J Wright





REGISTERED OFFICE: Unit 1 Fishponds Estate
Fishponds Road
Wokingham
Berkshire
RG41 2QJ





REGISTERED NUMBER: 04494889 (England and Wales)





AUDITORS: Cooper Parry Group Limited
Statutory Auditor
First Floor, Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The directors aim to present a balanced and comprehensive review of the development and performance of the business during the year and of its position at the year end. The review is consistent with the size and non complex nature of the business and is written in the context of the risks and uncertainties faced by the business.

The turnover of the company increased by 38% to £27.6m (2022 - £19.9m). Gross profit also increased from £9.5m to £11.3m, resulting in a profit before taxation of £4.3m (2022 - 4.3m).

The average number of employees increased from 95 to 115.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors have considered the risks and uncertainties pertaining to the company and have identified potential increased competition and exchange rate fluctuations as current potential risk areas. However, the management have worked to assess these risks and taken appropriate action to mitigate them.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors consider that the key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross profit and net assets.

ON BEHALF OF THE BOARD:





C J Wright - Director


4 February 2025

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacture, repair and overhaul of aircraft equipment.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £1,145,191 (2022: £828,871).

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

C J Wright
R Sims

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2023


AUDITORS
The audit business of Haines Watts was acquired by Cooper Parry Group Limited on 30th September 2024. Haines Watts has resigned as auditor and Cooper Parry Group Limited has been appointed in its place.

The auditors, Cooper Parry Group Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C J Wright - Director


4 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AVIA TECHNIQUE LIMITED


Opinion
We have audited the financial statements of Avia Technique Limited (the 'company') for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AVIA TECHNIQUE LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AVIA TECHNIQUE LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to the Company and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS102 - the Financial Reporting Standard applicable in the UK & The Republic of Ireland, the Companies Act 2006 and relevant tax compliance regulations in the UK.
We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by meeting with management to understand where management considered there was susceptibility to fraud. Audit procedures performed by the audit team included:

- Challenging assumptions and judgements made by management in its significant accounting estimates;
- Identifying and testing journal entries, with a focus on entries made with unusual accounting combinations;
- Confirming with management whether they have knowledge of any actual, suspected or illegal fraud;
- Evaluating whether there was evidence of bias by management that represents a risk of material misstatement due to fraud.

These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AVIA TECHNIQUE LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jacqueline Biggs FCCA ACA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
First Floor, Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

4 February 2025

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £ £

TURNOVER 4 27,607,773 19,941,479

Cost of sales 16,313,863 10,454,993
GROSS PROFIT 11,293,910 9,486,486

Administrative expenses 6,942,514 5,297,960
OPERATING PROFIT 6 4,351,396 4,188,526

Income from participating interests - 95,684
4,351,396 4,284,210

Interest payable and similar expenses 7 5,902 5,680
PROFIT BEFORE TAXATION 4,345,494 4,278,530

Tax on profit 8 596,734 756,122
PROFIT FOR THE FINANCIAL YEAR 3,748,760 3,522,408

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

3,748,760

3,522,408

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 443,043 271,577
Investments 12 1,257,813 978,276
1,700,856 1,249,853

CURRENT ASSETS
Stocks 13 5,634,796 4,078,057
Debtors 14 5,219,518 4,630,282
Cash at bank 650,955 628,915
11,505,269 9,337,254
CREDITORS
Amounts falling due within one year 15 3,742,693 3,802,558
NET CURRENT ASSETS 7,762,576 5,534,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,463,432

6,784,549

PROVISIONS FOR LIABILITIES 17 268,965 193,651
NET ASSETS 9,194,467 6,590,898

CAPITAL AND RESERVES
Called up share capital 18 38,000 38,000
Retained earnings 19 9,156,467 6,552,898
SHAREHOLDERS' FUNDS 9,194,467 6,590,898

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





C J Wright - Director


AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 January 2022 38,000 3,859,361 3,897,361

Changes in equity
Dividends - (828,871 ) (828,871 )
Total comprehensive income - 3,522,408 3,522,408
Balance at 31 December 2022 38,000 6,552,898 6,590,898

Changes in equity
Dividends - (1,145,191 ) (1,145,191 )
Total comprehensive income - 3,748,760 3,748,760
Balance at 31 December 2023 38,000 9,156,467 9,194,467

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


1. STATUTORY INFORMATION

Avia Technique 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The Directors have tested their cash flow analysis and based on these assessments, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

The Company's cash flow is included in the consolidated accounts of the parent company Salus Topco Limited. A copy of the consolidated accounts can be obtained from Salus Topco Limited at Unit 1 Fishponds Estate, Fishponds Road, Wokingham, Berkshire, RG41 2QJ.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


2. ACCOUNTING POLICIES - continued

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

- Plant & machinery - 5 years
- Fixtures & fittings - 5 years
- Computer equipment - 4 years
- Computer software - 3 years
- Motor vehicles - 3-4 years
- Other fixed assets - 5-10 years


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Associates and joint ventures
Associates and Joint Ventures are held at cost less impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


2. ACCOUNTING POLICIES - continued

Foreign currencies
Functional and presentation currency
The Company's functional and presentational currency is GBP.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

Operating leases
Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Finance costs
Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Pension costs and other post-retirement benefits
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


2. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include the provision for doubtful debts, provision for obsolete and slow moving stock and the useful economic life of tangible fixed assets.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2023 2022
£ £
United Kingdom 14,266,801 11,695,909
Europe 6,541,785 3,680,456
Rest of the World 6,799,187 4,565,114
27,607,773 19,941,479

5. EMPLOYEES AND DIRECTORS
2023 2022
£ £
Wages and salaries 3,494,657 2,874,787
Social security costs 384,568 306,448
Other pension costs 126,546 100,370
4,005,771 3,281,605

The average number of employees during the year was as follows:
2023 2022

Administration 6 6
Sales 15 11
Operations 94 78
115 95

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


5. EMPLOYEES AND DIRECTORS - continued

2023 2022
£ £
Directors' remuneration - -

The emoluments of directors, have been borne by other group companies. The directors are also directors or officers od the non United Kingdom based companies. The directors' services to the company do not occupy a significant amount of their time. As such, the directors have not received any remuneration for their services to the company for the year ended 31 December 2023 or 31 December 2022.

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£ £
Other operating leases 249,914 233,772
Depreciation - owned assets 137,507 169,828
Patents and licences amortisation - 1,334
Auditors' remuneration 39,500 22,500
Foreign exchange differences 152,785 (98,163 )

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£ £
Other interest payable 5,902 5,680

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 541,420 756,122

Deferred tax 55,314 -
Tax on profit 596,734 756,122

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 4,345,494 4,278,530
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

1,022,060

812,921

Effects of:
Expenses not deductible for tax purposes 13,140 3,859
Income not taxable for tax purposes - (18,180 )
Capital allowances in excess of depreciation (26,223 ) (5,259 )
Adjustments to tax charge in respect of previous periods - (37,219 )
Group relief (466,245 ) -
Deductions and reliefs (1,312 ) -
Deferred tax 55,314 -
Total tax charge 596,734 756,122

9. DIVIDENDS
2023 2022
£ £
Ordinary shares of £1 each
Final 1,145,191 828,871

10. INTANGIBLE FIXED ASSETS
Patents and
licences
£
COST
At 1 January 2023
and 31 December 2023 8,004
AMORTISATION
At 1 January 2023
and 31 December 2023 8,004
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


11. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 January 2023 472,621 601,042 84,868
Additions 71,864 153,976 71,508
At 31 December 2023 544,485 755,018 156,376
DEPRECIATION
At 1 January 2023 354,045 519,211 59,851
Charge for year 62,724 40,492 12,881
At 31 December 2023 416,769 559,703 72,732
NET BOOK VALUE
At 31 December 2023 127,716 195,315 83,644
At 31 December 2022 118,576 81,831 25,017

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 21,162 339,276 1,518,969
Additions - 11,625 308,973
At 31 December 2023 21,162 350,901 1,827,942
DEPRECIATION
At 1 January 2023 4,010 310,275 1,247,392
Charge for year 6,349 15,061 137,507
At 31 December 2023 10,359 325,336 1,384,899
NET BOOK VALUE
At 31 December 2023 10,803 25,565 443,043
At 31 December 2022 17,152 29,001 271,577

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


12. FIXED ASSET INVESTMENTS
Shares in Interest in
group joint
undertakings venture Totals
£ £ £
COST
At 1 January 2023 959,550 18,726 978,276
Additions 279,537 - 279,537
Reclassification/transfer 18,726 (18,726 ) -
At 31 December 2023 1,257,813 - 1,257,813
NET BOOK VALUE
At 31 December 2023 1,257,813 - 1,257,813
At 31 December 2022 959,550 18,726 978,276

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Destini Aviation SDN BHD
Registered office: No. 10, Jalan Jurunilai U1/20, Hicom Glenmarie Industrial Park, Shah Alam, Selangor, Malaysia
Nature of business: Provision of aircraft services
%
Class of shares: holding
Ordinary 100.00

Aero-Technics FZCO
Registered office: Warehouse B16 & B17,Dubai International Airport Free Zone,Dubai, United Arab Emirates
Nature of business: Provision of aircraft services
%
Class of shares: holding
Ordinary 100.00

13. STOCKS
2023 2022
£ £
Work-in-progress 1,499,859 1,401,269
Finished goods 4,134,937 2,676,788
5,634,796 4,078,057

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 3,412,812 3,274,551
Amounts owed by group undertakings 1,224,069 931,486
Other debtors 358,632 300,973
Prepayments and accrued income 224,005 123,272
5,219,518 4,630,282

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 1,307,677 1,441,482
Amounts owed to group undertakings 134,649 564,985
Tax 555,633 793,341
Social security and other taxes 103,445 82,651
Other creditors 340,395 21,613
Accruals and deferred income 1,300,894 898,486
3,742,693 3,802,558

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 477,982 318,782
Between one and five years 916,150 587,148
1,394,132 905,930

17. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 108,965 53,651
Other provisions 160,000 140,000
268,965 193,651

Deferred Dilapida
tax -tion
£ £
Balance at 1 January 2023 53,651 140,000
Provided during year 55,314 20,000
Balance at 31 December 2023 108,965 160,000

AVIA TECHNIQUE LIMITED (REGISTERED NUMBER: 04494889)

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


18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
38,000 Ordinary £1 38,000 38,000

19. RESERVES
Retained
earnings
£

At 1 January 2023 6,552,898
Profit for the year 3,748,760
Dividends (1,145,191 )
At 31 December 2023 9,156,467

20. PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company. The pension cost charge represents contributions payable by the Company to the fund of £126,546 (2022 - £100,370). Contributions totalling £28,232 (2022 - £21,613) were payable to the fund at the balance sheet date.

21. RELATED PARTY DISCLOSURES

The Company has taken advantage of the exemption under paragraph 33.1A of FRS102 not to disclose transactions with other wholly owned group members.

22. POST BALANCE SHEET EVENTS

In October 2024 the company identified an issue with some works carried out on a product and subsequently initiated a product recall. The company expects the total cost to rectify the issue to be £350,000.

23. ULTIMATE CONTROLLING PARTY

The Company's immediate parent undertaking is SKAviation B.V located at Marketing 43, 6921 RE DUIVEN, Postbus 185, 6920 DUIVEN, The Netherlands.

The Company's ultimate parent undertaking Salus Topco Limited located. A copy of the consolidated accounts can be obtained from Salus Topco Limited at Unit 1 Fishponds Estate, Fishponds Road, Wokingham, Berkshire, RG41 2QJ.

The Company's ultimate controlling party is Bridgepoint Group plc, a company listed on the London
Stock Exchange.