REGISTERED NUMBER: 10545596 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EURO CARGO AVIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S D Holland

Mr L Addinell

REGISTERED OFFICE:

Room 206/07

Building 308 World Freight

Manchester Airport

Manchester

M90 5PZ

REGISTERED NUMBER:

10545596 (England and Wales)

AUDITORS:

Livesey Spottiswood Ltd

Chartered Accountants and

Statutory Auditors

17 George Street

St Helens

Merseyside

WA10 1DB

FIXED ASSETS

Tangible assets

4

53,913

24,162

CURRENT ASSETS

Debtors

5

1,187,197

1,092,789

Cash at bank

417,401

680,035

1,604,598

1,772,824

CREDITORS

Amounts falling due within one year

6

(1,215,714

)

(1,324,929

)

NET CURRENT ASSETS

388,884

447,895

TOTAL ASSETS LESS CURRENT LIABILITIES

442,797

472,057

PROVISIONS FOR LIABILITIES

(4,600

)

(2,800

)

NET ASSETS

438,197

469,257

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

437,197

468,257

SHAREHOLDERS' FUNDS

438,197

469,257

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 28 March 2025 and were signed on its behalf by:

Mr L Addinell - Director

1.	STATUTORY INFORMATION

Euro Cargo Aviation 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from air cargo transportation services is recognised by reference to the flight date, when the amount of turnover can be measured reliably, it is probable the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Improvements to property

-

Over the term of the lease and Over the remaining term of the lease

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount 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 tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

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.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against profits on a straight line basis over the periods of the leases. Assets acquired under finance leases and hire purchase contracts are capitalised as tangible fixed assets and depreciated in accordance with the accounting policy on depreciation. The related obligations, net of finance costs allocated to future periods, are included in creditors. Finance costs are charged against profits on a straight line basis over the periods of the contracts.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

6,997

11,637

-

35,559

54,193

Additions

-

-

37,000

3,471

40,471

At 31 December 2024

6,997

11,637

37,000

39,030

94,664

DEPRECIATION

At 1 January 2024

-

8,592

-

21,439

30,031

Charge for year

1,166

1,940

1,665

5,949

10,720

At 31 December 2024

1,166

10,532

1,665

27,388

40,751

NET BOOK VALUE

At 31 December 2024

5,831

1,105

35,335

11,642

53,913

At 31 December 2023

6,997

3,045

-

14,120

24,162

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

863,598

789,268

Other debtors

121,701

89,344

Amounts due from group companies

188,049

191,203

VAT

5,107

9,578

Prepayments and accrued income

8,742

13,396

1,187,197

1,092,789

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

577,760

760,236

Corporation tax

46,036

3,670

Amounts due to group companies

22,632

12,740

Accruals and deferred income

569,286

548,283

1,215,714

1,324,929

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

-

7,724

Between one and five years

25,041

44,064

25,041

51,788

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew McMinnis FCA FCCA (Senior Statutory Auditor)

for and on behalf of Livesey Spottiswood Ltd

10.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking and controlling party is ML&E Investments B.V. a company incorporated in The Netherlands, which is the parent of the smallest and largest group to consolidate these financial statements. Copies of ML&E Investments B.V. consolidated financial statements can be obtained from Aalsmeerderdijk 158A, 1438AX Oude Meer, The Netherlands.

11.	PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, for routine payroll and taxation services and assist with the preparation of the financial statements.