REGISTERED NUMBER: 10552826 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

TAKE OFF AVIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr S Crawt

REGISTERED OFFICE:

Swissport

Building 558

Shoreham Road West

Hounslow

TW6 3RN

REGISTERED NUMBER:

10552826 (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

4,627

4,963

CURRENT ASSETS

Debtors

5

1,029,037

607,266

Cash at bank

637,217

1,186,979

1,666,254

1,794,245

CREDITORS

Amounts falling due within one year

6

(898,445

)

(748,972

)

NET CURRENT ASSETS

767,809

1,045,273

TOTAL ASSETS LESS CURRENT LIABILITIES

772,436

1,050,236

PROVISIONS FOR LIABILITIES

(1,160

)

(920

)

NET ASSETS

771,276

1,049,316

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

770,276

1,048,316

SHAREHOLDERS' FUNDS

771,276

1,049,316

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 director and authorised for issue on 28 March 2025 and were signed by:

Mr S Crawt - Director

1.	STATUTORY INFORMATION

Take Off 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 are recognised by reference to the stage of completion of the transaction at the balance sheet date, 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.

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 6 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

25,116

Additions

3,342

At 31 December 2024

28,458

DEPRECIATION

At 1 January 2024

20,153

Charge for year

3,678

At 31 December 2024

23,831

NET BOOK VALUE

At 31 December 2024

4,627

At 31 December 2023

4,963

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

939,552

541,802

Other debtors

3,161

50,000

Amounts due from group companies

84,311

14,415

VAT

1,792

562

Prepayments

221

487

1,029,037

607,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

337,501

400,248

Corporation tax

149,023

88,800

Amounts due to group companies

116,374

146,418

Accrued expenses

295,547

113,506

898,445

748,972

7.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

-

3,629

Between one and five years

25,482

-

25,482

3,629

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 services and assist with the preparation of the financial statements.