Bikar Aerospace Metals Ltd

	Page
Company Information	1
Directors' Report	2
Independent Auditor's Report	3—4
Profit and Loss Account	5
Statement of Comprehensive Income	6
Balance Sheet	7
Statement of Changes in Equity	8
Notes to the Financial Statements	9—12

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Company No. 12437111

Directors' Report For The Year Ended 31 December 2024

Directors' Report

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

Principal Activity

The company's principal activity continues to be the sale of metal alloys for the aerospace industry.

Directors

The directors who held office during the year were as follows:

Alexander Bikar

Claudia Bikar

Pascal Bikar

Post Balance Sheet Events

There are no events that have occured since the reporting date that require disclosure or adjustment for in these financial statements.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Small Company Rules

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

On behalf of the board

Alexander Bikar

Director

30 September 2025

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Independent Auditor's Report

to the Members of

Bikar Aerospace Metals Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Bikar Aerospace Metals Ltd for the year ended 31 December 2024 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 15 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

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Independent Auditor's Report (continued)

to the Members of

Bikar Aerospace Metals Ltd

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We identified the laws and regulations applicable to the company through discussions with directors and through our knowledge of the sector. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, these being the Companies Act 2006 and UK GAAP, FRS102 in particular.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and ensuring proper policies and procedures are in place. Moreover, the laws and regulations were communicated to the audit team, who remained alert to instances of non-compliance throughout the audit. We also assessed the susceptibility of the company's financial statements to material misstatement by making enquiries of management as to where they considered there was a susceptibility to fraud, their knowledge of actual or suspected frauds and through a consideration of the internal controls that might mitigate the risk of fraud and non-compliance with laws and regulations.. To address the risk of fraud through management bias and the override of controls, we have performed substantive testing of material balance sheet assets and liabilities, plus directional testing of revenue, expenses and payroll.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, forgery, collusion or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Harrison (Senior Statutory Auditor)

for and on behalf of Harrison Partners Limited , Statutory Auditor

30 September 2025

Harrison Partners Limited

Masonic Building

9 Mill Street

Sutton Coldfield

B72 1TJ

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Bikar Aerospace Metals Ltd

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER		10,328,212	4,170,711
Cost of sales		(7,224,680 )	(1,259,374 )

GROSS PROFIT		3,103,532	2,911,337

Administrative expenses		(3,367,651 )	(1,615,015 )
Other operating income		28,505	18,104

OPERATING (LOSS)/PROFIT		(235,614 )	1,314,426
Other interest receivable and similar income		1,973	865
Interest payable and similar charges		(12,019 )	(19,513 )

(LOSS)/PROFIT BEFORE TAXATION		(245,660 )	1,295,778
Tax on (Loss)/profit		54,985	(314,828 )

(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR		(190,675 )	980,950

The results for the year are from continuing activities.

The notes on pages 9 to 12 form part of these financial statements.

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Bikar Aerospace Metals Ltd

Statement of Comprehensive Income

For The Year Ended 31 December 2024

Statement of Comprehensive Income

	2024	2023
	£	£
LOSS FOR THE FINANCIAL YEAR	(190,675 )	980,950
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	(190,675 )	980,950

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Bikar Aerospace Metals Ltd

Balance Sheet

As At 31 December 2024

Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,945,208		1,150,997

			1,945,208		1,150,997
CURRENT ASSETS
Stocks	5	4,201,044		2,109,080
Debtors	6	2,681,670		1,596,391
Cash at bank and in hand		1,346,346		826,018

		8,229,060		4,531,489
Creditors: Amounts Falling Due Within One Year	7	(1,526,675 )		(862,848 )

NET CURRENT ASSETS (LIABILITIES)			6,702,385		3,668,641

TOTAL ASSETS LESS CURRENT LIABILITIES			8,647,593		4,819,638

Creditors: Amounts Falling Due After More Than One Year	8		(5,387,826 )		(1,455,505 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	9		(259,844 )		(173,535 )

NET ASSETS			2,999,923		3,190,598

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			2,999,823		3,190,498

SHAREHOLDERS' FUNDS			2,999,923		3,190,598

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors on 30 September 2025 and were signed on its behalf by:

Alexander Bikar

Director

The notes on pages 9 to 12 form part of these financial statements.

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Bikar Aerospace Metals Ltd

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	100	2,209,548	2,209,648
Profit for the year and total comprehensive income	-	980,950	980,950

As at 31 December 2023 and 1 January 2024	100	3,190,498	3,190,598


Loss for the year and total comprehensive income	-	(190,675 )	(190,675)

As at 31 December 2024	100	2,999,823	2,999,923

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Bikar Aerospace Metals Ltd

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Bikar Aerospace Metals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12437111 . The registered office is Unit 8b, Patchway Trading Estate, Britannia Road, Bristol, England, BS34 5TA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern for a period of at least one year from the date these accounts were approved.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated returns, rebates and other similar allowances. The company recognises revenue when the amount can be reliably measured, it is probable that future economic benefit will flow to the entity and specific criteria have been met for each of the business activities.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	straight line over 10 years
Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Bikar Aerospace Metals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 24 (2023: 11)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	486,015	585,463	-	162,705
Additions	7,913	933,218	124,790	125,785

As at 31 December 2024	493,928	1,518,681	124,790	288,490

Depreciation
As at 1 January 2024	24,264	96,585	-	5,232
Provided during the period	46,515	315,532	21,350	45,589

As at 31 December 2024	70,779	412,117	21,350	50,821

Net Book Value
As at 31 December 2024	423,149	1,106,564	103,440	237,669

As at 1 January 2024	461,751	488,878	-	157,473


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	51,702	1,285,885
Additions	52,141	1,243,847

As at 31 December 2024	103,843	2,529,732

Depreciation
As at 1 January 2024	8,807	134,888
Provided during the period	20,650	449,636

As at 31 December 2024	29,457	584,524

Net Book Value
As at 31 December 2024	74,386	1,945,208

As at 1 January 2024	42,895	1,150,997

5. Stocks

	2024	2023
	£	£
Stock	4,201,044	2,109,080

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Bikar Aerospace Metals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,864,636	917,110
Prepayments and accrued income	85,483	91,799
Other debtors	73,310	587,482
Corporation tax recoverable assets	144,088	-
Amounts owed by group undertakings	514,153	-

	2,681,670	1,596,391

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	407,771	621,846
Corporation tax	-	143,551
Other taxes and social security	146,884	30,967
VAT	265,871	-
Other creditors	129,042	53,949
Accruals and deferred income	577,107	12,535

	1,526,675	862,848

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to group undertakings	5,387,826	1,455,505

9. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	259,844	173,535

10. Share Capital

	2024	2023
Allotted, called up but not fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

11. Capital Commitments

	2024	2023
	£	£
At the end of the period	112,724	455,763

At the end of the period, the company had capital commitments in respect of plant and equipment. These have been contracted for, but are not provided for in these financial statements.

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Bikar Aerospace Metals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	388,468	84,251
Later than one year and not later than five years	1,951,586	1,897,586
Later than five years	1,680,655	2,055,623

	4,020,709	4,037,460

In May 2023 the company entered into a 10 year lease on its warehouse facility located in Bristol. The financial commitments are as set out above.

13. Post Balance Sheet Events

There are no events that have occured since the reporting date that need to be disclosed or adjusted for in these financial statements.

14. Related Party Transactions

The company is a 100% subsidiary of Bikar Aerospace GmbH and claims exemption under Financial Reporting Standard 102 from disclosing inter-group transactions.

15. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16. Ultimate Parent Undertaking and Controlling Party

The company's immediate parent undertaking is Bikar Aerospace GmbH (formerly Bikar-Aluminium GmbH) , a company incorporated in Germany. The company's ultimate parent undertaking is controlled by P Bikar, C Bikar and A Bikar by virture of their direct and indirect shareholdings in this company.

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