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REGISTERED NUMBER: 12466156 (England and Wales)












TM AIRCRAFT 27459 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






TM AIRCRAFT 27459 LIMITED (REGISTERED NUMBER: 12466156)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TM AIRCRAFT 27459 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: R J Allard
H D Gamble
T J T D A Metello





REGISTERED OFFICE: 2nd Floor
1 Putney High Street
London
SW15 1SZ





REGISTERED NUMBER: 12466156 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

TM AIRCRAFT 27459 LIMITED (REGISTERED NUMBER: 12466156)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes $    $   
CURRENT ASSETS
Debtors 4 3,530,927 3,832,591
Cash at bank 49,107 108,915
3,580,034 3,941,506
CREDITORS
Amounts falling due within one year 5 133,078 177,520
NET CURRENT ASSETS 3,446,956 3,763,986
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,446,956

3,763,986

CREDITORS
Amounts falling due after more than one
year

6

2,096,164

976,777
NET ASSETS 1,350,792 2,787,209

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 1,349,792 2,786,209
SHAREHOLDERS' FUNDS 1,350,792 2,787,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

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 Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:



H D Gamble - Director


TM AIRCRAFT 27459 LIMITED (REGISTERED NUMBER: 12466156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

TM Aircraft 27459 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.

The financial statements are prepared in US dollar being the most relevant currency for the company.

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

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.

Finance lease
The company leases out aircrafts under finance lease agreements.

The leased assets are derecognised upon lease commencement and a lease receivable is recognised.

The leases are assessed at each reporting date to establish whether there is objective evidence that a lease receivable or group of lease receivables is impaired. If such evidence exists, an impairment loss is recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

TM AIRCRAFT 27459 LIMITED (REGISTERED NUMBER: 12466156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. DEBTORS
30.11.24 30.11.23
$    $   
Amounts falling due within one year:
Trade debtors 18,827 1,849
Amounts receivable in respect of finance
leases

474,000

2,025,714
VAT 21,700 937
Prepayments - 6,757
514,527 2,035,257

Amounts falling due after more than one year:
Finance Lease 3,016,400 1,797,334

Aggregate amounts 3,530,927 3,832,591

During the year, the Group repossessed an aircraft previously subject to a finance lease arrangement. The aircraft was returned at an agreed fair value of $3,500,000. In addition, the company retained the lease deposit of $600,000. The total consideration received amounted to $4,100,000. The finance lease receivable outstanding at the date of repossession was $3,686,285.72, which has been derecognised. The resulting profit of $413,714.28 has been recognised in the Statement of Comprehensive Income under Other Operating Income as profit on termination of finance lease. Subsequently, the aircraft was leased to another party under a new lease arrangement.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
$    $   
Trade creditors 707 -
Tax 130,012 151,612
Accrued expenses 2,359 25,908
133,078 177,520

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
$    $   
Amounts owed to group undertakings 96,164 376,777
Other creditors 2,000,000 600,000
2,096,164 976,777

Included in amount due to group undertaking is a loan of $58,500 (2023: $240,899) due to Ninaclau Lda and a loan of $37,664 (2023: $135,878) due to Chelsea Green Aviation Limited. The loans are unsecured, interest free and repayable on demand.

Included in other creditors is a deposit of $2,000,00 (2023: $600,000) received from the lessee P.T. Express Cargo Airlines for the finance lease of the aircraft.

TM AIRCRAFT 27459 LIMITED (REGISTERED NUMBER: 12466156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: $    $   
1,000 Ordinary $1 1,000 1,000

8. RESERVES
Retained
earnings
$   

At 1 December 2023 2,786,209
Profit for the year 382,969
Dividends (1,819,386 )
At 30 November 2024 1,349,792

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ninaclau Lda, a company incorporated in Portugal.