WEST ATLANTIC UK LIMITED

Company Registration Number:
05059096 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

WEST ATLANTIC UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

WEST ATLANTIC UK LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Gregor Graeme Little
Andres Romera
Fernando Llorens Saenz


The director shown below has held office during the period of
20 June 2024 to 31 December 2024

Russell Ladkin


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
16 May 2025

And signed on behalf of the board by:
Name: Gregor Graeme Little
Status: Director

WEST ATLANTIC UK LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 77,890,747 95,128,331
Cost of sales: ( 73,008,961 ) ( 92,936,521 )
Gross profit(or loss): 4,881,786 2,191,810
Distribution costs: 0 0
Administrative expenses: ( 6,636,586 ) ( 6,681,526 )
Operating profit(or loss): (1,754,800) (4,489,716)
Interest receivable and similar income: 573,404 2,278,178
Interest payable and similar charges: ( 625,276 ) ( 882,680 )
Profit(or loss) before tax: (1,806,672) (3,094,218)
Tax: 138,111 387,795
Profit(or loss) for the financial year: (1,668,561) (2,706,423)

WEST ATLANTIC UK LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 381,019 359,880
Tangible assets: 4 11,038,720 10,044,255
Total fixed assets: 11,419,739 10,404,135
Current assets
Stocks: 5 6,835,406 95,253
Debtors: 6 11,947,952 10,534,249
Cash at bank and in hand: 1,630,441 1,089,417
Total current assets: 20,413,799 11,718,919
Creditors: amounts falling due within one year: 7 ( 27,302,897 ) ( 19,817,150 )
Net current assets (liabilities): (6,889,098) (8,098,231)
Total assets less current liabilities: 4,530,641 2,305,904
Creditors: amounts falling due after more than one year: 8 ( 905,074 ) ( 929,803 )
Provision for liabilities: ( 855,000 ) ( 731,855 )
Total net assets (liabilities): 2,770,567 644,246
Capital and reserves
Called up share capital: 1,000 1,000
Other reserves: 3,794,882
Profit and loss account: (1,025,315 ) 643,246
Total Shareholders' funds: 2,770,567 644,246

The notes form part of these financial statements

WEST ATLANTIC UK LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 16 May 2025
and signed on behalf of the board by:

Name: Gregor Graeme Little
Status: Director

The notes form part of these financial statements

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Tangible fixed assets depreciation policy

    Tangible fixed assets under the cost model are stated at historical costs less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis. Plant and machinery - General - 8 years Plant and machinery - Landing Gears - 12 years Motor vehicles - 5 years Fixtures and fittings - 8 years Computer equipment - 4 years Aircraft checks and inspections - to the date of the next required check: 24 months. Aircraft engines: OVH - 12.000 FH (max) HSI - 6.000 FH (max) The assets residual values, economical and useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in the Profit and Loss Account.

    Intangible fixed assets amortisation policy

    Intangible assets are initially recognized at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortization and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed 10 years. The estimated useful lives range as follows: Computer Software - 4 years

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 191 222

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2024 441,406 441,406
Additions 144,726 144,726
Disposals 0 0
Revaluations 0 0
Transfers
At 31 December 2024 586,132 586,132
Amortisation
At 1 January 2024 81,526 81,526
Charge for year 123,587 123,587
On disposals 0 0
Other adjustments 0 0
At 31 December 2024 205,113 205,113
Net book value
At 31 December 2024 381,019 381,019
At 31 December 2023 359,880 359,880

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 17,227,589 335,080 0 40,300 17,602,969
Additions 8,707,739 52,461 0 8,760,200
Disposals ( 3,184,663 ) ( 1,206 ) ( 3,875 ) ( 3,189,744 )
Revaluations
Transfers 0 0
At 31 December 2024 22,750,665 386,335 0 36,425 23,173,425
Depreciation
At 1 January 2024 7,356,849 182,817 0 19,048 7,558,714
Charge for year 6,970,580 49,038 0 3,691 7,023,309
On disposals ( 2,442,237 ) ( 1,206 ) 0 ( 3,875 ) ( 2,447,318 )
Other adjustments
At 31 December 2024 11,885,192 230,649 0 18,864 12,134,705
Net book value
At 31 December 2024 10,865,473 155,686 0 17,561 11,038,720
At 31 December 2023 9,870,740 152,263 0 21,252 10,044,255

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Stocks

2024 2023
£ £
Stocks 6,835,406 95,253
Total 6,835,406 95,253

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Debtors

2024 2023
£ £
Trade debtors 3,287,728 5,377,659
Prepayments and accrued income 1,690,569 2,300,958
Other debtors 6,969,655 2,855,632
Total 11,947,952 10,534,249
Debtors due after more than one year: 0 0

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 5,219,879 5,965,479
Accruals and deferred income 1,255,933 2,927,041
Other creditors 20,827,085 10,924,630
Total 27,302,897 19,817,150

WEST ATLANTIC UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

8. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 905,074 929,803
Total 905,074 929,803