ACCOUNTS - Final Accounts

Registered number: 02200536

AIRLINE COMPONENTS INTERNATIONAL LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

AIRLINE COMPONENTS INTERNATIONAL LIMITED

REGISTERED NUMBER: 02200536

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		216,207		117,131
Current assets
Stocks	5	744,655		740,959
Debtors: amounts falling due within one year	6	1,538,482		1,182,954
Cash at bank and in hand	7	1,596,734		1,295,484
		3,879,871		3,219,397

Creditors: amounts falling due within one year	8	(1,523,952)		(1,108,051)
Net current assets			2,355,919		2,111,346
Total assets less current liabilities			2,572,126		2,228,477
Creditors: amounts falling due after more than one year	9		(37,500)		(87,500)
Provisions for liabilities
Deferred tax	10		(53,161)		(26,167)
Net assets			2,481,465		2,114,810

Capital and reserves
Called up share capital	11	100	100
Profit and loss account		2,481,365	2,114,710
		2,481,465	2,114,810

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

REGISTERED NUMBER: 02200536

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J A N Deans

Director

Date: 15 September 2025

The notes on pages 3 to 10 form part of these financial statements.

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Airline Components International Limited is a private company limited by shares, registered in England and Wales. The Company's registered office address is 2 Communications Road, Greenham Business Park, Newbury, Berkshire, RG19 6AB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Plant & machinery	-	33% straight line and 25% on reducing balance
Motor vehicles	-	25% on reducing balance
Fixtures & fittings	-	25% straight line
Computer and office equipment	-	25% straight line
Improvements to property	-	over a period of 15 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.

Increases in provisions are generally charged as an expense to profit or loss.

2.15

Financial instruments

The Company only enters into basic financial instrument 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.

Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 18).

Page 6


		AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	4.	Tangible fixed assets

	Plant & machinery	Motor vehicles	Fixtures & fittings	Computer & office equipment	Improvements to property	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2024	1,308,324	62,653	42,527	269,952	229,260	1,912,716
Additions	-	116,178	-	20,556	-	136,734
At 31 December 2024	1,308,324	178,831	42,527	290,508	229,260	2,049,450
Depreciation
At 1 January 2024	1,278,919	50,529	42,527	269,379	154,231	1,795,585
Charge for the year on owned assets	12,050	7,872	-	2,452	15,284	37,658
At 31 December 2024	1,290,969	58,401	42,527	271,831	169,515	1,833,243
Net book value
At 31 December 2024	17,355	120,430	-	18,677	59,745	216,207
At 31 December 2023	29,405	12,124	-	573	75,029	117,131

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Stocks
		2024	2023
		£	£

	Closing stocks	744,655	740,959

Debtors

					2024	2023
					£	£


Trade debtors	985,143	613,117
Other debtors	325,000	325,000
Other taxation	126,476	117,233
Prepayments and accrued income	101,863	127,604
	1,538,482	1,182,954

7.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	1,596,734	1,295,484

8.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	336,924	208,742
Corporation tax	141,731	240,899
Other taxation and social security	90,467	68,178
Other creditors	59,382	132,253
Accruals and deferred income	845,448	407,979
Bank loans	50,000	50,000
	1,523,952	1,108,051

Page 8

AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

	Bank loans	37,500	87,500

The Company borrowed money under the Coronavirus Business Interruption Loan Scheme over a term of 6 years in August 2020. Interest is being charged at a rate of 2.51% per annum and the loan is secured by the United Kingdom Government.

10.	Deferred taxation

	2024	2023
	£	£

At beginning of year	(26,167)	(60,765)
Utilised in year	(26,994)	34,598
At end of year	(53,161)	(26,167)

The provision for deferred taxation is made up as follows:
	2024	2023
	£	£

	Accelerated capital allowances	53,161	28,336
	Provision surplus	-	2,169

11.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £1.00 each	100	100

12.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £153,374 (2023 - £117,757). No contributions are outstanding at the year end (2023 - £NIL).

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AIRLINE COMPONENTS INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.

Related party transactions

During the year total dividends of £400,000 (2023 - £500,000) were paid to the Directors.

As at the reporting date the Company was owed £325,000 (2023 - £325,000) from Rigiflex Plastics Limited, a company under common control. This loan is non-interest bearing, without security and is repayable on demand.

Other creditors include loans from the Directors of £37,025 (2023 - £98,940). These loans are non-interest bearing, without security and are repayable on demand..

14.	Controlling party

The Company is controlled by J A N Deans and V J Deans, the Directors of the Company, by virtue of their of joint voting shareholding.

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