REGISTERED NUMBER: 11947445 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Urban Air Port Limited

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

Report of the Accountants

9

DIRECTORS:

H Sandhu

A Wu-Sandhu

REGISTERED OFFICE:

c/o Canny & Associates

30 Moorgate

London

EC2R 6PJ

REGISTERED NUMBER:

11947445 (England and Wales)

ACCOUNTANTS:

Canny & Associates Ltd

Chartered Certified Accountants

30 Moorgate

London

EC2R 6PJ

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing innovative design and consultancy services for the aeronautical sector.

REVIEW OF BUSINESS

Please refer to the Report of Directors in the accounts of Six Miles Across London Limited, it's

ultimate parent company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

H Sandhu

A Wu-Sandhu

Other changes in directors holding office are as follows:

A Slepian - resigned 15 January 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

H Sandhu - Director

25 September 2025

FIXED ASSETS

Tangible assets

4

10,370

16,390

Investments

5

1

1

10,371

16,391

CURRENT ASSETS

Debtors

6

20,918

192,987

Cash at bank

291,802

711,306

312,720

904,293

CREDITORS

Amounts falling due within one year

7

57,634

1,987,042

NET CURRENT ASSETS/(LIABILITIES)

255,086

(1,082,749

)

TOTAL ASSETS LESS CURRENT LIABILITIES

265,457

(1,066,358

)

CAPITAL AND RESERVES

Called up share capital

7

5

Share premium

2,636,511

654,997

Retained earnings

(2,371,061

)

(1,721,360

)

265,457

(1,066,358

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 25 September 2025 and were signed on its behalf by:

H Sandhu - Director

1.	STATUTORY INFORMATION

Urban Air Port 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office equipment

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 3 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Computer

equipment

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

960

27,501

1,946

30,407

Additions

990

-

899

1,889

At 31 December 2024

1,950

27,501

2,845

32,296

DEPRECIATION

At 1 January 2024

520

12,605

892

14,017

Charge for year

323

6,875

711

7,909

At 31 December 2024

843

19,480

1,603

21,926

NET BOOK VALUE

At 31 December 2024

1,107

8,021

1,242

10,370

At 31 December 2023

440

14,896

1,054

16,390

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

-

40,000

Amounts owed by group undertakings

19,338

19,338

Other debtors

498

117,942

VAT

-

15,707

Prepayments

1,082

-

20,918

192,987

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other loans (see note 8)

-

1,766,711

Trade creditors

20,024

87,631

Amounts owed to group undertakings

-

1

Social security and other taxes

7,468

55,832

VAT

2,242

-

Other creditors

16,618

25,151

Directors' current accounts

2,256

-

Accrued expenses

9,026

51,716

57,634

1,987,042

8.

LOANS

Included in Creditors: Amounts Falling Due Within One Year is an amount of £Nil (2023 - £1,766,711 in respect of a convertible loan note. The loan and accrued interest was converted to equity shares during 2024 and accordingly this liability no longer exists at the date of signing of these accounts..

9.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Six Miles Across London Limited and it's ultimate controlling party is Mr H Sandhu, a company director.

10.	SHARE-BASED PAYMENT TRANSACTIONS

The company had agreements with advisors to provide their services, related to research and development, to the company. These services were to be satisfied in the company's absolute discretion either in cash or by way of issue of ordinary shares in the company, but dependant on the company reaching a certain fundraising threshold. The fundraising threshold was never reached and hence the advisors fees were not accrued in previous years accounts. The company did complete some fundraising during 2024 and it was agreed with the advisors, as their services are vital to the future commercial viability of the company, their fees would be paid in shares.

The value of their services, based on daily rates, totalled £124,148, and have been charged to the Profit and Loss Account.

In May 2024, 21 ordinary shares with a nominal value of £0.001 each, were issued to the advisors at a price of £5,911.83 per share. The £5,911.83 share price was considered fair value based on an independent valuation obtained by the company.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Canny & Associates Ltd

Chartered Certified Accountants

30 Moorgate

London

EC2R 6PJ

25 September 2025