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REGISTERED NUMBER: 15408863 (England and Wales)















Financial Statements for the Period 12 January 2024 to 31 August 2024

for

Specialist Aviation Properties Limited

Specialist Aviation Properties Limited (Registered number: 15408863)






Contents of the Financial Statements
for the Period 12 January 2024 to 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Specialist Aviation Properties Limited

Company Information
for the Period 12 January 2024 to 31 August 2024







DIRECTOR: D F Hammond





REGISTERED OFFICE: Aerospace Logistics Centre
Unit 2b Dunhams Lane
Letchworth
Hertfordshire
SG6 1BE





REGISTERED NUMBER: 15408863 (England and Wales)





AUDITORS: Godfrey Laws & Co Limited
Statutory Auditors
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Specialist Aviation Properties Limited (Registered number: 15408863)

Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Investment property 4 1,765,000

CURRENT ASSETS
Cash at bank 327

CREDITORS
Amounts falling due within one year 5 1,180,739
NET CURRENT LIABILITIES (1,180,412 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

584,588

CREDITORS
Amounts falling due after more than one
year

6

(229,319

)

PROVISIONS FOR LIABILITIES (144,213 )
NET ASSETS 211,056

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings 210,956
SHAREHOLDERS' FUNDS 211,056

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 director and authorised for issue on 28 May 2025 and were signed by:





D F Hammond - Director


Specialist Aviation Properties Limited (Registered number: 15408863)

Notes to the Financial Statements
for the Period 12 January 2024 to 31 August 2024

1. STATUTORY INFORMATION

Specialist Aviation Properties 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.

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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,424,131
Revaluations 340,869
At 31 August 2024 1,765,000
NET BOOK VALUE
At 31 August 2024 1,765,000

Specialist Aviation Properties Limited (Registered number: 15408863)

Notes to the Financial Statements - continued
for the Period 12 January 2024 to 31 August 2024

4. INVESTMENT PROPERTY - continued

During the year the investment property was acquired from Specialist Aviation Ltd, a subsidiary company of the parent company Specialist Aviation Holdings Ltd, for a value of £1,170,000.
Additional costs totalling £254,131 were incurred in the year.
The investment property was sold after the year end, the fair value of the property has been reflected in the financial statements.

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 340,869
Cost 1,424,131
1,765,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to group undertakings 920,342
Taxation and social security 4,767
Other creditors 255,630
1,180,739

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 229,319

7. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 229,319

Securities include:
Fixed and floating charge created in favour of LLoyds Bank to cover all property or undertaking of the company.
The charge includes a negative pledge.

Fixed and floating charge created in favour of LLoyds bank on the leasehold property known as Stanley House, Works Road,Letchworth Garden City, Herts SG6 1JY. The charge was satisfied in October 2024.

The company has an omnibus guarantee and set off agreement with it's fellow group companies:
Cabinair Services Ltd
SATTO Solutions Ltd
HSM Aero Ltd
Specialist Aviation Holding Ltd
Specialist Aviation Ltd

Specialist Aviation Properties Limited (Registered number: 15408863)

Notes to the Financial Statements - continued
for the Period 12 January 2024 to 31 August 2024

8. CALLED UP SHARE CAPITAL

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

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

The Report of the Auditors was unqualified.

Howard Ashmore FCA (Senior Statutory Auditor)
for and on behalf of Godfrey Laws & Co Limited

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the following amounts are due to companies under common control

31.8.2024
£
Specialist Aviation Holding Limited 100
Specialist Aviation Limited 920,242

The controlling party is D F Hammond.

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Specialist Aviation Holdings Limited, the registered office is: Aerospace Logistics Centre, Unit 2B Dunhams Lane, Letchworth Garden City, Herts, SG6 1BE.