Company No: 03152165 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTOR

C E Beer

SECRETARY

D E R West

REGISTERED OFFICE	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT
	United Kingdom

BUSINESS ADDRESS	Vista
	2 William Street
	Windsor
	Berkshire
	SL4 1 BA

COMPANY NUMBER

03152165 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	10,919		11,589
		10,919		11,589
Current assets
Debtors
- due within one year	4	490,743		437,495
- due after more than one year	4	61,257		65,851
Cash at bank and in hand	5	283,384		284,957
		835,384		788,303
Creditors: amounts falling due within one year	6	( 39,780)		( 21,524)
Net current assets		795,604		766,779
Total assets less current liabilities		806,523		778,368
Provision for liabilities	7	( 1,598)		( 1,566)
Net assets		804,925		776,802
Capital and reserves
Called-up share capital		100,000		100,000
Profit and loss account		704,925		676,802
Total shareholder's funds		804,925		776,802

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Skyworld Aviation Limited (registered number: 03152165) were approved and authorised for issue by the Director on 02 September 2025. They were signed on its behalf by:

C E Beer Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Skyworld Aviation Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom. The principal place of business is Vista, 2 William Street, Windsor, Berkshire, SL4 1 BA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	6		6

3. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2024	37,797		38,721		68,164		144,682
Additions	0		2,457		0		2,457
At 31 December 2024	37,797		41,178		68,164		147,139
Accumulated depreciation
At 01 January 2024	32,755		36,937		63,401		133,093
Charge for the financial year	1,260		675		1,192		3,127
At 31 December 2024	34,015		37,612		64,593		136,220
Net book value
At 31 December 2024	3,782		3,566		3,571		10,919
At 31 December 2023	5,042		1,784		4,763		11,589

4. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	273,419		225,735
Amounts owed by Group undertakings	194,405		191,905
Prepayments	18,125		15,104
Other debtors	4,794		4,751
	490,743		437,495
Debtors: amounts falling due after more than one year
Other debtors	61,257		65,851

5. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	283,384		284,957

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	10,172		6,294
Accruals	2,900		2,900
Corporation tax	6,646		3,730
Other taxation and social security	16,818		6,238
Other creditors	3,244		2,362
	39,780		21,524

7. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 1,566)		( 2,477)
(Charged)/credited to the Statement of Income and Retained Earnings	( 32)		911
At the end of financial year	( 1,598)		( 1,566)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 1,598)		( 1,566)

8. Ultimate controlling party

Parent Company:

Skyworld Aviation Holding Limited

During the year the Company was under the control Mr. C beer, director and majority and majority shareholder of the parent Company.