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REGISTERED NUMBER: 04092155 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 June 2025

for

Leki Limited

Leki Limited (Registered number: 04092155)






Contents of the Financial Statements
for the Year Ended 30 June 2025




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


Leki Limited

Company Information
for the Year Ended 30 June 2025







DIRECTOR: K Krojby



REGISTERED OFFICE: 823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ



REGISTERED NUMBER: 04092155 (England and Wales)



AUDITORS: Krogh & Partners Limited, (Statutory Auditor)
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ



BANKERS: Barclays Bank plc
74/75 East Street
Chichester
West Sussex
PO19 1HR

Leki Limited (Registered number: 04092155)

Strategic Report
for the Year Ended 30 June 2025

The director presents his strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS
In 2024/25 the turnover amounted to kUSD 19,683 against kUSD 25,587 last year. The income statement for 2024/25 shows a profit of kUSD 395 against kUSD 1,613 last year.

With the global market volatility as it has been over the past year, the director considers the result and financial position at year end acceptable.

PRINCIPAL RISKS AND UNCERTAINTIES
The Company's operations expose it to a variety of financial risks, where the main risks include the following:

FOREIGN EXCHANGE RISK
The company's reporting currency is USD as the main part of the company's sales transaction and cash flows are dominated in USD, and that the group's reporting currency is USD.

The company's other cost are largely incurred in local currencies, and therefore the company's result is impacted by the movements in the local currency.

Management finds that the benefits from hedging currency risks are limited and the company does therefore not use financial instruments for hedging purposes.

CREDIT RISK
The company runs credit checks on its customer on a regular basis. The limits are checked and monitored constantly to ensure that they are kept to the terms.

PRICE RISK AND STOCK OBSOLESCENCE
The company is exposed to price risk as a direct result of its trading as well as a risk of stock obsolescence exists. The company monitor the stock on an ongoing basis.

KEY PERFORMANCE INDICATORS
The key financial performance indicators reviewed by the management via the monthly management accounts are sales, gross margin, overhead, stock levels and profit before tax and are compared with the comparative position in previous years and the budget.

ON BEHALF OF THE BOARD:





K Krojby - Director


25 August 2025

Leki Limited (Registered number: 04092155)

Report of the Director
for the Year Ended 30 June 2025

The director presents his report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the supply of new and used commercial aircraft parts.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2025.

FUTURE DEVELOPMENTS
Management will continue the positive development of the company over future years.

DIRECTOR
K Krojby held office during the whole of the period from 1 July 2024 to the date of this report.

RESULTS
The Company's profit for the year amounted to USD 395,136.

POST BALANCE SHEET EVENTS
No post balance sheet events have occurred since 30 June 2025 which requires reporting or disclosing in the accounts.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Leki Limited (Registered number: 04092155)

Report of the Director
for the Year Ended 30 June 2025


AUDITORS
Krogh & Partners Limited, Chartered Accountants & Registered Auditors have signified their willingness to continue in office. A resolution to re-appoint them will be proposed at the Annual General Meeting.

ON BEHALF OF THE BOARD:



K Krojby - Director


25 August 2025

Report of the Independent Auditors to the Members of
Leki Limited (Registered number: 04092155)

Opinion
We have audited the financial statements of Leki Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Leki Limited (Registered number: 04092155)


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge of the business;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

Report of the Independent Auditors to the Members of
Leki Limited (Registered number: 04092155)


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims;
- reviewing correspondence with HMRC and relevant regulators

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




John Lindegaard (Senior Statutory Auditor)
for and on behalf of Krogh & Partners Limited, (Statutory Auditor)
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ

25 August 2025

Leki Limited (Registered number: 04092155)

Income Statement
for the Year Ended 30 June 2025

2025 2024
Notes $    $   

TURNOVER 3 19,682,598 25,586,847

Cost of sales 18,038,853 22,723,125
GROSS PROFIT 1,643,745 2,863,722

Administrative expenses 1,030,180 831,899
OPERATING PROFIT 5 613,565 2,031,823

Interest receivable and similar income 7 86,711 133,684
700,276 2,165,507

Interest payable and similar expenses 8 99,774 -
PROFIT BEFORE TAXATION 600,502 2,165,507

Tax on profit 9 205,366 552,796
PROFIT FOR THE FINANCIAL YEAR 395,136 1,612,711

Leki Limited (Registered number: 04092155)

Other Comprehensive Income
for the Year Ended 30 June 2025

2025 2024
Notes $    $   

PROFIT FOR THE YEAR 395,136 1,612,711


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

395,136

1,612,711

Leki Limited (Registered number: 04092155)

Balance Sheet
30 June 2025

2025 2024
Notes $    $    $    $   
FIXED ASSETS
Tangible assets 11 114,431 136,701
Investments 12 2 2
114,433 136,703

CURRENT ASSETS
Stocks 13 1,214,226 1,338,977
Debtors 14 3,440,541 2,857,539
Cash at bank 2,339,731 4,919,090
6,994,498 9,115,606
CREDITORS
Amounts falling due within one year 15 2,772,244 5,305,758
NET CURRENT ASSETS 4,222,254 3,809,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,336,687

3,946,551

PROVISIONS FOR LIABILITIES 17 5,000 10,000
NET ASSETS 4,331,687 3,936,551

CAPITAL AND RESERVES
Called up share capital 18 2 2
Retained earnings 19 4,331,685 3,936,549
SHAREHOLDERS' FUNDS 4,331,687 3,936,551

The financial statements were approved by the director and authorised for issue on 25 August 2025 and were signed by:





K Krojby - Director


Leki Limited (Registered number: 04092155)

Statement of Changes in Equity
for the Year Ended 30 June 2025

Called up
share Retained Total
capital earnings equity
$    $    $   
Balance at 1 July 2023 2 6,323,838 6,323,840

Changes in equity
Dividends - (4,000,000 ) (4,000,000 )
Total comprehensive income - 1,612,711 1,612,711
Balance at 30 June 2024 2 3,936,549 3,936,551

Changes in equity
Total comprehensive income - 395,136 395,136
Balance at 30 June 2025 2 4,331,685 4,331,687

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements
for the Year Ended 30 June 2025

1. STATUTORY INFORMATION

Leki 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about Leki Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, KIM KRØJBY HOLDING ApS, Weendam Alle 28, 2791 Dragør.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Turnover
Turnover from sales and trading and finished goods is recognized as turnover when the transition of the main benefits and risks to the buyer, the turnover can be made up reliably and payment is expected to be received. The time of release of the most essential benefits and risks based on standardized delivery conditions based on Incoterms 2010.

Turnover is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in turnover.

Administration expenses
Administrative expenses comprise expenses for rent, management, insurance, office expenses, depreciation, etc.

Staff cost
Staff costs comprise wages and salaries, and social security contributions, pension contribution etc. for entity
staff.

Interest and similar income and charges
Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

2. ACCOUNTING POLICIES - continued

Foreign currencies
Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at period end rates. The resulting exchange differences are dealt with in the profit and loss account in the period to which they arise.

Tangible assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Short leasehold in accordance with the property lease
Plant and machinery 20% per annum, straight line basis
Fixtures and fittings 20% per annum, straight line basis
Motor vehicles 20% per annum, straight line basis
Computer equipment 33% per annum, straight line basis

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

Consignment stock is not recognised as an asset of the company. Profits arising on the sale of consignment stock are divided between the consignor and the company in agreed proportions.

Debtors
Debtors are valued individually and there are made provision according to this valuation.

Cash at bank and in hand
Cash at bank and in hand include cash holdings and bank deposit.

Creditors
Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Taxation
Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025 2024
United Kingdom 18.64% 17.96%
Europe 26.80% 30.52%
Rest of world 54.56% 51.52%
100.00% 100.00%

4. EMPLOYEES AND DIRECTORS
2025 2024
$    $   
Wages and salaries 340,125 306,382
Social security costs 20,859 25,847
Other pension costs 7,755 6,669
368,739 338,898

The average number of employees during the year was as follows:
2025 2024

Sales 4 3
Administration 1 1
Warehouse 3 3
8 7

2025 2024
$    $   
Director's remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2025 2024
$    $   
Depreciation - owned assets 41,510 41,657
Auditors' remuneration 23,815 20,100
Foreign exchange income/loss 947 2,404

6. EXCEPTIONAL ITEMS
2025 2024
$    $   
Provision of loss on
intercompany balance (160,949 ) (42,057 )

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

7. INTEREST RECEIVABLE AND SIMILAR INCOME
2025 2024
$    $   
Bank interest 86,711 133,110
Other interest - 574
86,711 133,684

8. INTEREST PAYABLE AND SIMILAR EXPENSES
2025 2024
$    $   
Intercompany interest 80,609 -
Other interest paid 19,165 -
99,774 -

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2025 2024
$    $   
Current tax:
UK corporation tax 210,366 542,796

Deferred tax:
Change in deferred tax (5,000 ) 10,000
Tax on profit 205,366 552,796

UK corporation tax was charged at 25%) in 2024.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025 2024
$    $   
Profit before tax 600,502 2,165,507
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

150,126

541,377

Effects of:
Expenses not deductible for tax purposes 40,391 10,528
Depreciation in excess of capital allowances 7,952 8,636
Currency impact 6,897 (7,745 )
Total tax charge 205,366 552,796

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

10. DIVIDENDS
2025 2024
$    $   
Ordinary share of 1
Interim - 4,000,000

11. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
$    $    $    $    $   
COST
At 1 July 2024 414,585 33,578 122,049 44,305 614,517
Additions 12,992 - - 6,248 19,240
At 30 June 2025 427,577 33,578 122,049 50,553 633,757
DEPRECIATION
At 1 July 2024 283,080 33,578 121,825 39,333 477,816
Charge for year 35,474 - 75 5,961 41,510
At 30 June 2025 318,554 33,578 121,900 45,294 519,326
NET BOOK VALUE
At 30 June 2025 109,023 - 149 5,259 114,431
At 30 June 2024 131,505 - 224 4,972 136,701

12. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
$   
COST
At 1 July 2024
and 30 June 2025 2
NET BOOK VALUE
At 30 June 2025 2
At 30 June 2024 2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

25 Repair Centre Limited
Registered office:
Nature of business: Repair of aircraft parts
%
Class of shares: holding
Ordinary 100.00

13. STOCKS
2025 2024
$    $   
Goods for resale 1,214,226 1,338,977

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
$    $   
Trade debtors 739,360 1,462,892
Amounts owed by group undertakings 2,497,666 1,246,209
Other debtors and prepayments 3,542 10,140
Tax 88,319 -
VAT 111,654 138,298
3,440,541 2,857,539

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
$    $   
Trade creditors 586,437 913,842
Amounts owed to group undertakings 1,950,369 3,928,029
Corporation tax - 289,996
Other taxation and social security 13,170 8,353
Other creditors 193,956 99,458
Accruals and deferred income 28,312 66,080
2,772,244 5,305,758

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
$    $   
Within one year 75,460 69,520

17. PROVISIONS FOR LIABILITIES
2025 2024
$    $   
Deferred tax 5,000 10,000

Deferred
tax
$   
Balance at 1 July 2024 10,000
Deferred tax change (5,000 )
Balance at 30 June 2025 5,000

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: $    $   
1 Ordinary 1 2 2

Leki Limited (Registered number: 04092155)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2025

19. RESERVES
Retained
earnings
$   

At 1 July 2024 3,936,549
Profit for the year 395,136
At 30 June 2025 4,331,685

20. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

21. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Leki Aviation A/S, a company incorporated and registered in United Kingdom.

Leki Aviation A/S (incorporated in Denmark) is the smallest group to consolidate these financial statements and copies can be obtained from:

Leki Aviation A/S
Amager Landevej 278
2770 Kastrup
Denmark