| REGISTERED NUMBER: |
| AEROHAL LTD |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| REGISTERED NUMBER: |
| AEROHAL LTD |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Chartered Certified Accountants' Report | 3 |
| Income Statement | 4 |
| Balance Sheet | 5 |
| Statement of Changes in Equity | 6 |
| Notes to the Financial Statements | 7 |
| AEROHAL LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Sterling House |
| Fulbourne Road |
| Walthamstow |
| London |
| E17 4EE |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| The directors present their report with the financial statements of the company for the year ended 30 November 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of a holding company. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aerohal Ltd for the year ended 30 November 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of Aerohal Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aerohal Ltd and state those matters that we have agreed to state to the Board of Directors of Aerohal Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at |
| https://www.accaglobal.com/gb/en/technical-activities/technical-resources- |
| search/2009/october/factsheet-163-audit-exempt-companies.html. |
| To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Aerohal Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aerohal Ltd. You consider that Aerohal Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Aerohal Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Certified Accountants |
| Sterling House |
| Fulbourne Road |
| Walthamstow |
| London |
| E17 4EE |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 30.11.24 | 30.11.23 |
| $ | $ |
| TURNOVER |
| Administrative expenses |
| OPERATING PROFIT |
| Interest receivable and similar income |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 30.11.24 | 30.11.23 |
| Notes | $ | $ | $ | $ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| STATEMENT OF CHANGES IN EQUITY |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| $ | $ | $ |
| Balance at 1 December 2022 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 30 November 2023 |
| Changes in equity |
| Total comprehensive income | - |
| Balance at 30 November 2024 |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Aerohal Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Aerohal Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents dividends receivable from the company's investments net of withholding tax and other taxes. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. |
| Basic financial assets |
| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or whenthe companytransfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
| Debtors do not carry interest and are stated at their nominal value. |
| Trade creditors are not interest-bearing and are stated at their nominal value. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the company’s contractual obligationsexpire or are discharged or cancelled. |
| Equity instruments |
| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
| 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 US dollar 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| 30.11.24 | 30.11.23 |
| $ | $ |
| Shares in group undertakings |
| Other investments not loans | 26,803 | 26,803 |
| Additional information is as follows: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| $ | $ | $ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 | 445 |
| NET BOOK VALUE |
| At 30 November 2024 | 445 |
| At 30 November 2023 | 445 |
| Investments (neither listed nor unlisted) were as follows: |
| 30.11.24 | 30.11.23 |
| $ | $ |
| Investment in Art | 26,488 | 26,488 |
| 5. | DEBTORS |
| 30.11.24 | 30.11.23 |
| $ | $ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts falling due after more than one year: |
| Amounts owed by group undertakings |
| Aggregate amounts |
| Included in amount due form group undertakings within one year, is a loan of $13,598 (2023:$80,386) due from TM 28869 Limited, a loan of $Nil (2023: $52,159) due from TM28569 Limited and a loan of $Nil (2023:$11,357) due from Chelsea Green Engines Limited. |
| Amounts owed from group undertakings after more than one year of $254,544 (2023:$1,283,341) is a loan due from Plane Invest Limited a 100% owned subsidiary. |
| All the loans are unsecured, interest free and repayable on demand. |
| AEROHAL LTD (REGISTERED NUMBER: 13874116) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.11.24 | 30.11.23 |
| $ | $ |
| Directors' current accounts | 20,034 | 815,211 |
| Accrued expenses |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
| value: | $ | $ |
| Ordinary | $1.30 | 143 | 143 |
| 8. | RESERVES |
| Retained |
| earnings |
| $ |
| At 1 December 2023 |
| Profit for the year |
| At 30 November 2024 |
| 9. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |