| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 August 2024 |
| for |
| SATTO Solutions Ltd |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 August 2024 |
| for |
| SATTO Solutions Ltd |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| SATTO Solutions Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 65 Knowl Piece |
| Wilbury Way |
| Hitchin |
| Hertfordshire |
| SG4 0TY |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| SATTO Solutions Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover consists of the marketing and distribution of a rapid repair system for aircraft cabin. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year 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 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in |
| associate |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Amounts owed to associates | 30 | 10,591 |
| Taxation and social security |
| Other creditors |
| 8. | SECURED DEBTS |
| 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 Aldermore Bank PLC to cover all property or undertaking of the company. The charge includes a negative pledge. |
| The company has an omnibus guarantee and set off agreement with it's fellow group companies: |
| Cabinair Services Ltd |
| HSM Aero Ltd |
| Specialist Aviation Holding Ltd |
| Specialist Aviation Ltd |
| Specialist Aviation Properties Ltd |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the following amounts are due to/(from) companies under common control: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Specialist Aviation Holdings Limited | 155,883 | 58,869 |
| Cabinair Services Limited | 4,787 | (46 | ) |
| HSM Aero Limited | 63,144 | 22,376 |
| During the year, the company traded with the following associated companies: |
| 31.8.24 | 31.8.23 |
| SATTO Repair Centre USA C Corp | £ | £ |
| Amounts due from associated company | 37,399 | - |
| Trade debtors | 117,745 | 122,717 |
| Mix 14 Limited |
| Amounts due to associated company | 30 | 10,591 |
| The controlling party is D F Hammond. |
| SATTO Solutions Ltd (Registered number: 08751605) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 11. | ULTIMATE PARENT COMPANY |
| The ultimate parent company is Specialist Aviation Holdings Limited, the registered office is: Aerospace Logistics Centre, Fifth Avenue, Letchworth Garden City, Herts, SG6 2TS. |