GT Aerospace (Europe) Limited 31/05/2025 iXBRL

Company registration number: 06905790

GT Aerospace (Europe) Limited

Unaudited filleted financial statements

31 May 2025

GT Aerospace (Europe) Limited

Contents

Statement of financial position

Notes to the financial statements

GT Aerospace (Europe) Limited

Statement of financial position

31 May 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	3	46,439		52,951
Investments	4	90,613		90,613
		_______		_______
			137,052		143,564

Current assets
Debtors	5	4,614,531		3,411,688
Cash at bank and in hand		1,110,823		280,588
		_______		_______
		5,725,354		3,692,276
Creditors: amounts falling due
within one year	6	( 4,479,420)		( 2,636,045)
		_______		_______
Net current assets			1,245,934		1,056,231
			_______		_______
Total assets less current liabilities			1,382,986		1,199,795


Provisions for liabilities			( 609)		( 1,535)

			_______		_______
Net assets			1,382,377		1,198,260
			_______		_______

Capital and reserves
Called up share capital	7		100,000		100,000
Profit and loss account			1,282,377		1,098,260
			_______		_______
Shareholders funds			1,382,377		1,198,260
			_______		_______

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 20 August 2025 , and are signed on behalf of the board by:

Mr Takanobu Ono

Director

Company registration number: 06905790

GT Aerospace (Europe) Limited

Notes to the financial statements

Year ended 31 May 2025

1. General information

GT Aerospace (Europe) Limited (Company number 06905790 ) is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	reducing balance
Fittings fixtures and equipment	-	33 %	straight line
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

2. Employee numbers

The average number of persons employed by the company, including directors, during the year amounted to 11 (2024: 10).

3. Tangible assets

	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£
Cost
At 1 June 2024	41,267	52,980	94,247
Additions	10,330	-	10,330
Disposals	( 6,016)	-	( 6,016)
	_______	_______	_______
At 31 May 2025	45,581	52,980	98,561
	_______	_______	_______
Depreciation
At 1 June 2024	23,912	17,384	41,296
Charge for the year	4,935	8,899	13,834
Disposals	( 3,008)	-	( 3,008)
	_______	_______	_______
At 31 May 2025	25,839	26,283	52,122
	_______	_______	_______
Carrying amount
At 31 May 2025	19,742	26,697	46,439
	_______	_______	_______
At 31 May 2024	17,355	35,596	52,951
	_______	_______	_______

4. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 June 2024 and 31 May 2025	90,613	90,613
	_______	_______
Impairment
At 1 June 2024 and 31 May 2025	-	-
	_______	_______
Carrying amount
At 31 May 2025	90,613	90,613
	_______	_______
At 31 May 2024	90,613	90,613
	_______	_______

The company has investments in two companies at the year end, TS516 Inc (a company based in the USA trading as GT Aerospace USA), and GTAj Ltd (a company based in Japan), at a cost of £37,751 and £52,862 respectively.

5. Debtors

	2025	2024
	£	£
Trade debtors	383,141	1,026,874
Other debtors	4,231,390	2,384,814
	_______	_______
	4,614,531	3,411,688
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	325,619	467,565
Social security and other taxes	16,395	23,644
Other creditors	4,137,406	2,144,836
	_______	_______
	4,479,420	2,636,045
	_______	_______

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	100,000	100,000	100,000	100,000
	_______	_______	_______	_______

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
TS516 Inc. (t/a GT Aerospace (USA)) - Sales	255,328	316,799	445,385	-
TS516 Inc. (t/a GT Aerospace (USA)) - Purchases	-	-	-	( 192,278)
GTAj Limited - Sales	10,716,562	2,679,852	1,383,264	1,725,584
GTAj Limited - Purchases	-	357,519	-	-
	_______	_______	_______	_______

GT Aerospace (Europe) Limited owns 100% of the issued ordinary share capital in TS516 Inc, trading as GT Aerospace (USA). The subsidiary is based in the USA. The most recent set of financial results for the subsidiary were to the year-end 31 May 2025. They showed a turnover of $2,220,559 and a profit before taxation of $100,842. The company has net assets to the value of $542,893 . GT Aerospace (Europe) Limited owns 100% of the issued ordinary share capital in GTAj Ltd, a company based in Japan. The most recent set of financial results for the subsidiary were to the year-end 31 May 2025, and showed a turnover of ¥3,006,057,976 and a profit before taxation of ¥155,191,931. The company also has net assets to the value of ¥205,573,511.