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REGISTERED NUMBER: 05845889 (England and Wales)















Financial Statements for the Year Ended 31 August 2024

for

Cabinair Services Ltd

Cabinair Services Ltd (Registered number: 05845889)






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


Cabinair Services Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D F Hammond





REGISTERED OFFICE: Aerospace Logistics Centre
Unit 2B
Dunhams Lane
Letchworth Garden City
Hertfordshire
SG6 1BE





REGISTERED NUMBER: 05845889 (England and Wales)





AUDITORS: Godfrey Laws Audit Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Cabinair Services Ltd (Registered number: 05845889)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 214,297 221,328
Investments 5 350,099 -
564,396 221,328

CURRENT ASSETS
Stocks 459,441 430,738
Debtors 6 1,528,106 887,467
Cash at bank 341,126 976,952
2,328,673 2,295,157
CREDITORS
Amounts falling due within one year 7 1,439,590 1,278,817
NET CURRENT ASSETS 889,083 1,016,340
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,479

1,237,668

CREDITORS
Amounts falling due after more than one
year

8

(60,000

)

(26,538

)

PROVISIONS FOR LIABILITIES (28,753 ) (39,231 )
NET ASSETS 1,364,726 1,171,899

CAPITAL AND RESERVES
Called up share capital 11 100 4
Retained earnings 1,364,626 1,171,895
SHAREHOLDERS' FUNDS 1,364,726 1,171,899

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


Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Cabinair Services Ltd 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.

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 consist of cabin maintenance for aircraft.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the period of the lease
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Office equipment - 25% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

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.

Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 September 2023 - 59,542 338,434
Additions 21,356 29,046 -
At 31 August 2024 21,356 88,588 338,434
DEPRECIATION
At 1 September 2023 - 7,869 223,322
Charge for year 1,780 6,467 44,372
At 31 August 2024 1,780 14,336 267,694
NET BOOK VALUE
At 31 August 2024 19,576 74,252 70,740
At 31 August 2023 - 51,673 115,112

Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 163,263 19,285 42,438 622,962
Additions - - 13,809 64,211
At 31 August 2024 163,263 19,285 56,247 687,173
DEPRECIATION
At 1 September 2023 124,384 15,702 30,357 401,634
Charge for year 12,386 1,000 5,237 71,242
At 31 August 2024 136,770 16,702 35,594 472,876
NET BOOK VALUE
At 31 August 2024 26,493 2,583 20,653 214,297
At 31 August 2023 38,879 3,583 12,081 221,328

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2023
and 31 August 2024 78,120
DEPRECIATION
At 1 September 2023 32,551
Charge for year 15,624
At 31 August 2024 48,175
NET BOOK VALUE
At 31 August 2024 29,945
At 31 August 2023 45,569

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
Additions 200,100 149,999 350,099
At 31 August 2024 200,100 149,999 350,099
NET BOOK VALUE
At 31 August 2024 200,100 149,999 350,099

Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. FIXED ASSET INVESTMENTS - continued

During the year the company purchased the interest in SATTO US and Aeroknow.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 887,511 627,138
Amounts owed by group undertakings 4,787 -
Amounts owed by associates 106,493 4,403
Other debtors 529,315 255,926
1,528,106 887,467

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 19,095 18,083
Trade creditors 238,556 173,468
Amounts owed to group undertakings 499,888 187,601
Taxation and social security 41,692 132,193
Other creditors 640,359 767,472
1,439,590 1,278,817

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) - 19,095
Other creditors 60,000 7,443
60,000 26,538

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 19,095 18,083
Between one and five years - 19,095
19,095 37,178

Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 280,400 150,314
Between one and five years 934,078 75,104
1,214,478 225,418

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 19,095 37,178

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:
Specialist Aviation Ltd
SATTO Solutions Ltd
HSM Aero Ltd
Specialist Aviation Holding Ltd
Specialist Aviation Properties Ltd

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 90 4
10 Growth shares £1 10 -
100 4

The following shares were allotted and fully paid for cash at par during the year:

86 Ordinary shares of £1 each
10 Growth shares shares of £1 each

12. 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 Audit Limited

Cabinair Services Ltd (Registered number: 05845889)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. RELATED PARTY DISCLOSURES


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

31.8.2024 31.8.2023
£ £
SATTO Solutions Ltd 4,787 -


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

31.8.2024 31.8.2023
£ £
SATTO Solutions Limited - 46
Specialist Aviation Holdings Ltd 444,123 177,689
HSM Aero Ltd 55,765 9,866
Aeroknow Ltd 100 -
Aeroknow SIA 90,000 -


During the year the company traded with the following associated companies
31.8.2024 31.8.2023
£ £
Mix 14 Ltd
Amounts due from from associated company - 4,403

SATTO Repair Centre US C Corp
Amounts due from from associated company 106,493 -

The controlling party is D F Hammond.

14. 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