| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 August 2024 |
| for |
| Cabinair Services Ltd |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| 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 |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| 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 |
| 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 consist of cabin maintenance for aircraft. |
| Tangible fixed assets |
| Short leasehold | - |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Short | to | Plant and |
| leasehold | property | machinery |
| £ | £ | £ |
| COST |
| At 1 September 2023 |
| Additions |
| At 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 |
| 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 |
| Additions |
| At 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 |
| 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 |
| 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 |
| Shares in | Interest |
| group | in |
| undertakings | associate | Totals |
| £ | £ | £ |
| COST |
| Additions | 350,099 |
| At 31 August 2024 | 350,099 |
| NET BOOK VALUE |
| At 31 August 2024 | 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 |
| Amounts owed by group undertakings |
| Amounts owed by associates |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Other creditors |
| 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 |
| Between one and five years |
| 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 |
| Between one and five years |
| 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: | £ | £ |
| Ordinary | £1 | 90 | 4 |
| 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. |
| for and on behalf of |
| 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 |