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REGISTERED NUMBER: 04806292 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOVEREIGN BUSINESS JETS LIMITED

SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOVEREIGN BUSINESS JETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: J P Ball
E V Melfi





REGISTERED OFFICE: Buncton Barn
Buncton Lane
Bolney
Haywards Heath
RH17 5RE





REGISTERED NUMBER: 04806292 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

BALANCE SHEET
31 MARCH 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,546 6,879

CURRENT ASSETS
Stocks 3,380,296 2,830,877
Debtors 5 1,908,884 3,693,824
Cash at bank 292,980 946,854
5,582,160 7,471,555
CREDITORS
Amounts falling due within one year 6 (6,721,205 ) (8,982,024 )
NET CURRENT LIABILITIES (1,139,045 ) (1,510,469 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,137,499

)

(1,503,590

)

CREDITORS
Amounts falling due after more than one
year

7

(25,424

)

(31,163

)
NET LIABILITIES (1,162,923 ) (1,534,753 )

CAPITAL AND RESERVES
Called up share capital 9 400 400
Retained earnings (1,163,323 ) (1,535,153 )
SHAREHOLDERS' FUNDS (1,162,923 ) (1,534,753 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

BALANCE SHEET - continued
31 MARCH 2025


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by:





J P Ball - Director


SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Sovereign Business Jets 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.

Significant judgements and estimates
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
Aviation By Westminster Limited has confirmed that they will continue to provide support to enable the company to fulfill its financial obligations as and when they fall due. On this basis the directors are of the opinion that the financial statements should be drawn up on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 92,735 27,082 119,817
DEPRECIATION
At 1 April 2024 88,947 23,991 112,938
Charge for year 3,788 1,545 5,333
At 31 March 2025 92,735 25,536 118,271
NET BOOK VALUE
At 31 March 2025 - 1,546 1,546
At 31 March 2024 3,788 3,091 6,879

SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 764,119 2,343,193
Other debtors 1,144,765 1,350,631
1,908,884 3,693,824

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 8) 6,618 6,618
Trade creditors 255,176 1,789,968
Amounts owed to group undertakings 681,116 662,870
Taxation and social security 4,724 4,742
Other creditors 5,773,571 6,517,826
6,721,205 8,982,024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans (see note 8) 25,424 31,163

8. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,618 6,618
Other loans 5,768,321 5,988,321
5,774,939 5,994,939

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,618 6,618

Amounts falling due between two and five years:
Bank loans - 2-5 years 18,806 24,545

Amounts included in bank loans relate to a government-backed loan to assist with the impact of the Coronavirus pandemic. This loan was drawn down in May 2020. The loan is repayable by May 2026 with no repayments due in the first 12 months. The loan incurs interest at 2.5% per annum with the UK government funding the interest for the first 12 months.

Amounts included in other loans relate to draw down facilities drawn down for the procurement of stock. Each draw down is repayable within 5 business days of the sale of stock for which the draw down was made, plus a profit share of 33.34% on the net profit of the sale. Interest is charged at 5% per annum or Secured Overnight Financing Rate Data (SOFR) + 8%.

SOVEREIGN BUSINESS JETS LIMITED (REGISTERED NUMBER: 04806292)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
400 Ordinary 1 400 400

10. RELATED PARTY DISCLOSURES

As at 31 March 2025, the company owed £681,116 (2024: £662,870) to Aviation By Westminster Limited, a company under common control. During the period, repayments were made of £30,000 (2024: £nil) and interest accrued on the balance totalling £48,246 (2024: £50,519). The balance is unsecured, has no fixed repayment date and attracts interest at between 5-10% dependent on usage.