REGISTERED NUMBER: 14077254 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Business Aviation Training Solutions

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F Miclos

R Fisch

REGISTERED OFFICE:

The Officers Mess Business Centre

Royston Road

Duxford

Cambridge

Cambridgeshire

CB22 4QH

REGISTERED NUMBER:

14077254 (England and Wales)

AUDITORS:

Peter Hodgson & Co. Ltd. (Statutory Auditor)

Chartered Accountants

Shadwell House

65 Lower Green Road

Tunbridge Wells

Kent

TN4 8TW

FIXED ASSETS

Property, plant and equipment

4

2,504

5,250

CURRENT ASSETS

Debtors

5

1,554,532

4,066,090

Cash at bank

6

2,770,662

229,306

4,325,194

4,295,396

CREDITORS

Amounts falling due within one year

7

3,151,845

3,062,235

NET CURRENT ASSETS

1,173,349

1,233,161

TOTAL ASSETS LESS CURRENT LIABILITIES

1,175,853

1,238,411

CREDITORS

Amounts falling due after more than one year

8

(1,590,651

)

(1,653,017

)

PROVISIONS FOR LIABILITIES

9

-

(998

)

NET LIABILITIES

(414,798

)

(415,604

)

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

11

(415,798

)

(416,604

)

SHAREHOLDERS' FUNDS

(414,798

)

(415,604

)

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 12 September 2025 and were signed on its behalf by:

F Miclos - Director

1.	STATUTORY INFORMATION

Business Aviation Training Solutions 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

There are no critical accounting judgements or key sources of estimation uncertainty pertaining to these financial statements or matters that need to be brought to the attention of users of these accounts which have not already been disclosed.

Turnover

Revenue 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.

Computer equipment

-

25% on reducing balance

Financial instruments

Initial Measurement

Financial instruments are initially measured at the transaction price (this includes transaction cost except in the initial measurement of financial assets and liabilities that will be measured at fair value through profit or loss). If however the arrangement constitutes a financing transaction it is then measured at the present value of the future payments, discounted at a market related interest rate.

Trade and other receivables

Most sales are made on the basis of normal credit terms, and the receivables do not bear interest. Where credit is extended beyond normal credit terms, receivables are measured at amortised cost using the effective interest method. At the end of each reporting period, the carrying amounts of trade and other receivables are reviewed to determine whether there is any objective evidence that the amounts are not recoverable. If so, an impairment loss is recognised immediately in profit or loss.

Trade payables

Trade payables are obligations on the basis of normal credit terms and do not bear interest. Trade payables denominated in a foreign currency are translated into (currency) using the exchange rate at the reporting date. Foreign exchange gains or losses are included in other income or other expenses.

Bank loans and overdrafts

Interest expense is recognised on the basis of the effective interest method and is included in finance costs.

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Functional and presentational currency

The functional currencies of the company are £ Stg, € Euro and $ USD.

The currency for accounts presentation purposes is £ Stg.

Provisions and contingencies

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event; it is probable that the company will be required to transfer economic benefits in settlement; and the amount of the obligation can be estimated reliably.

Provisions are measured at the present value of the amount expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks to a specific obligation. The increase in the provision due to the passage of time is recognised as interest expense.

Provisions are not recognised for future operating losses.

Contingent assets and contingent liabilities are not recognised.

Going concern

The financial statements have been prepared on a going concern basis which assumes the company will continue to trade in operational existence for the foreseeable future.

The parent company, Luxaviation Holding Company SA has provided working capital facilities to the company and confirmed that it will continue to provide financial resources as may be required by the company to meet their financial commitments as they fall due for at least twelve months from the date of approval these financial statements and will not seek repayment of amounts owed within that period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

8,239

DEPRECIATION

At 1 January 2024

2,989

Charge for year

2,746

At 31 December 2024

5,735

NET BOOK VALUE

At 31 December 2024

2,504

At 31 December 2023

5,250

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,191

8,826

Due from group companies

1,519,320

3,999,706

VAT

29,207

26,918

Other debtors & prepayments

3,814

30,640

1,554,532

4,066,090

6.	CASH AT BANK

2024

2023

£

£

Cash at bank

2,770,662

229,306

Goup cash pooling

The company is part of a treasury cash pooling arrangement with other members of the Luxaviaion Group.

It therefore does not have direct control of its own cash resources because they are managed centrally by Luxaviation's Treasury Division on its behalf. Despite the lack of local control over its cash resources, all creditors & suppliers of the company have always been paid and the company has never defaulted on any of its commitments.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,044,949

1,199,061

Deferred income

37,296

785,742

Due to group companies

65,234

1,074,982

Accrued expenses

4,366

2,450

3,151,845

3,062,235

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Due to related parties

1,590,651

1,653,017

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

-

998

Deferred

tax

£

Balance at 1 January 2024

998

Provided during year

(998

)

Balance at 31 December 2024

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1 January 2024

(416,604

)

Profit for the year

806

At 31 December 2024

(415,798

)

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aidan Smyth (Senior Statutory Auditor)

for and on behalf of Peter Hodgson & Co. Ltd. (Statutory Auditor)

13.	PARENT COMPANY

The ultimate parent company is Luxaviation Management Company SA, a company incorporated in Luxembourg.

14.	GOING CONCERN

The accounts have been drawn up on a going concern basis on the assumption that the company will continue to trade for a period of at least 12 months from the date of approval by the directors.