H4 Aerospace (UK) Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 January 2024	100	14,900	128,900	143,900
Loss for the year	-	-	(227,982)	(227,982)
At 31 December 2024	100	14,900	(99,082)	(84,082)

	Share capital £	Share premium £	Retained earnings £	Total £
At 1 January 2023	100	14,900	79,988	94,988
Profit for the year	-	-	48,912	48,912
At 31 December 2023	100	14,900	128,900	143,900

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Blue Court
39 Queensway
Hemel Hempstead
Hertfordshire
HP2 5HE

These financial statements were authorised for issue by the Board on 18 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Key sources of estimation uncertainty

The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	33% of NBV

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 6).

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	89,525	89,525
At 31 December 2024	89,525	89,525
Depreciation
At 1 January 2024	80,055	80,055
Charge for the year	3,044	3,044
At 31 December 2024	83,099	83,099
Carrying amount
At 31 December 2024	6,426	6,426
At 31 December 2023	9,471	9,471

5

Debtors

Current	2024 £	2023 £
Trade debtors	174,830	56,426
Prepayments	25,249	150,134
Other debtors	285,702	302,824
	485,781	509,384

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		41,407	45,902
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	468,751	203,973
Taxation and social security		4,513	29,442
Other creditors		79,803	169,433
		594,474	448,750

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A of £1 each	75	75	75	75
Ordinary B of £1 each	25	25	25	25
	100	100	100	100

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	36,960	35,200
Later than one year and not later than five years	154,880	52,800
	191,840	88,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £35,200 (2023 - £35,200).

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £Nil per each Ordinary A		-		-
Interim dividend of £Nil per each Ordinary B		-		-
		-		-

10	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	205,707	132,628

Income and receivables from related parties

2024	Associates £
Sale of goods	73,948

2023	Associates £
Sale of goods	135,597

Expenditure with and payables to related parties

2024	Associates £
Purchase of goods	6,052

2023	Associates £
Purchase of goods	87,892

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

10	Related party transactions (continued)

Loans from related parties

2024	Associates £	Total £
At start of period	203,973	203,973
Advanced	264,779	264,779
At end of period	468,752	468,752

2023	Associates £	Total £
At start of period	166,024	166,024
Advanced	37,949	37,949
At end of period	203,973	203,973

11	Parent and ultimate parent undertaking

The company's immediate parent is Eas Acquisition Co Limited, incorporated in Ireland.

 

H4 Aerospace (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

12	Impact on Balance Sheet (comparatives)

Re-classification of Work in Progress to Contract Assets

During the year, the company reviewed the presentation of certain balances previously recognised as stock. As a result, amounts relating to unbilled revenues and work in progress recoverable under customer contracts have been reclassified as contract assets within debtors. This reclassification better reflects the nature of these assets under current reporting policies.

Impact on Balance sheet (comparatives)

	2023 (Previously stated)  £	Reclassification  £	2023 Restated £
Work in progress	254,824	(254,824)	-
Amounts recoverable on contracts (Other debtors)	48,000	254,824	302,824
	302,824	-	302,824