Topcast Aviation Europe Limited Company accounts

COMPANY REGISTRATION NUMBER: 07132990

Topcast Aviation Europe Limited

Unaudited Financial Statements

31 December 2024

Topcast Aviation Europe Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	10

Topcast Aviation Europe Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

Mr W Tatzer
Mr C L Lo

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 23 September 2025 and signed on behalf of the board by:

Mr C L Lo

Director

Topcast Aviation Europe Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	2,465,511	2,718,844

Cost of sales	2,259,643	2,483,694
	------------	------------
Gross profit	205,868	235,150

Administrative expenses	109,761	159,581
	---------	---------
Operating profit	96,107	75,569

Other interest receivable and similar income		60	38
		---------	---------
Profit before taxation	5	96,167	75,607

Tax on profit	22,343	( 7,797)
	--------	--------
Profit for the financial year and total comprehensive income	73,824	83,404
	--------	--------

Retained earnings at the start of the year	843,320	759,916
	---------	---------
Retained earnings at the end of the year	917,144	843,320
	---------	---------

All the activities of the company are from continuing operations.

Topcast Aviation Europe Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	3,833	6,132
Investments	7	1,576,696	1,576,696
		------------	------------
		1,580,529	1,582,828

Current assets

Debtors	8	817,707	654,805
Cash at bank and in hand		210,222	276,174
		------------	---------
		1,027,929	930,979

Prepayments and accrued income	–	1,140

Creditors: amounts falling due within one year	9	106,663	81,391
		------------	---------
Net current assets		921,266	850,728
		------------	------------
Total assets less current liabilities		2,501,795	2,433,556

Accruals and deferred income	7,855	13,440
	------------	------------
Net assets	2,493,940	2,420,116
	------------	------------

Capital and reserves

Called up share capital	101	101
Share premium account	1,576,695	1,576,695
Profit and loss account	917,144	843,320
	------------	------------
Shareholders funds	2,493,940	2,420,116
	------------	------------

These financial statements have been prepared 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'.

For the year ending 31 December 2024 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 .

Topcast Aviation Europe Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Mr C L Lo

Director

Company registration number: 07132990

Topcast Aviation Europe Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Olympic House, Unit 1A Corinium Industrial Estate, Raans Road, Amersham, Buckinghamshire, HP6 6YJ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

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.

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 the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Equipment	-	20% or 25% Straight line

Software is depreciated on a 20% straight line basis. All other equipment is depreciated on a 25% straight line basis.

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.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	2,299	2,317
	-------	-------

6. Tangible assets

	Equipment
	£
Cost
At 1 January 2024	15,833
Disposals	( 2,485)
	--------
At 31 December 2024	13,348
	--------
Depreciation
At 1 January 2024	9,701
Charge for the year	2,299
Disposals	( 2,485)
	--------
At 31 December 2024	9,515
	--------
Carrying amount
At 31 December 2024	3,833
	--------
At 31 December 2023	6,132
	--------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	1,576,696
	------------
Impairment
At 1 January 2024 and 31 December 2024	–
	------------

Carrying amount
At 31 December 2024	1,576,696
	------------
At 31 December 2023	1,576,696
	------------

The company owns 100% of the issued share capital of Topcast Aviation Holdings USA LLC as of 22 November 2019. Extracts from the subsidiary accounts for the year ended 31 December 2024 are as follows:

2024 2023

£ £

Aggregate capital and reserves 1,620,194 1,599,115

Loss for the period (3,848) (856)

Topcast Aviation USA Holdings LLC owns 100% of the issued share capital of Topcast Aviation USA Inc. Extracts from the subsidiary accounts of Topcast Aviation USA Inc for year ended 31 December 2024 are as follows:

2024 2023

£ £

Aggregate capital and reserves 4,245,393 3,404,377

Profit for the period 787,947 960,577

8. Debtors

	2024	2023
	£	£
Trade debtors	150,855	172,707
Amounts owed by group undertakings and undertakings in which the company has a participating interest	666,754	481,143
Other debtors	98	955
	---------	---------
	817,707	654,805
	---------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	22,344	16,425
Social security and other taxes	3,797	–
Contract liabilities	80,522	64,966
	---------	--------
	106,663	81,391
	---------	--------

10. Related party transactions

During the year the company purchased £ 2,244,132 (2023: £2,461,681) of aviation parts from its' holding company . £Nil (2023: £Nil) is included in trade creditors in respect of these purchases. These purchases were on normal commercial terms. During the year the company purchased £ 10,628 (2023: £ 21,971 ) of supplies from Topcast Aviation USA Inc , a subsidiary of Topcast Aviation USA LLC, which is 100% owned by Topcast Aviation Europe Limited . £Nil (2023: £Nil) is included in trade creditors in respect of these purchases. These purchases were on normal commercial terms. During the year the company purchased £3,988 (2023: £Nil) of supplies from Shenzhen Topcast Import and Export Co. Limited, which is 100% owned by Topcast Aviation Supplies Co Ltd. During the year the company purchased £895 (2023: £Nil) of supplies from Topcast Aviation Services Limited, which is 100% owned by the parent company of Topcast Aviation Supplies Co Ltd.

11. Controlling party

The company is an 100% subsidiary of Topcast Aviation Supplies Company Limited which is incorporated in Hong Kong.

Topcast Aviation Europe Limited

Management Information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

Topcast Aviation Europe Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Topcast Aviation Europe Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Topcast Aviation Europe Limited for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Topcast Aviation Europe Limited, as a body, in accordance with the terms of my engagement letter dated 1 December 2015. My work has been undertaken solely to prepare for your approval the financial statements of Topcast Aviation Europe Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Topcast Aviation Europe Limited and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Topcast Aviation Europe Limited 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 Topcast Aviation Europe Limited. You consider that Topcast Aviation Europe Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Topcast Aviation Europe Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

DMC ACCOUNTING Chartered accountants

Olympic House Unit 1A Corinium Industrial Estate Raans Road Amersham Buckinghamshire HP6 6YJ

23 September 2025