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REGISTERED NUMBER: 13851532 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 January 2025 |

| for |

| Gulfjet Aviation Ltd |

Gulfjet Aviation Ltd (Registered number: 13851532)

Contents of the Financial Statements

for the Year Ended 31 January 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Gulfjet Aviation Ltd

Company Information

for the Year Ended 31 January 2025

| DIRECTOR: | A L Rose

| REGISTERED OFFICE: | Stafford House

| Blackbrook Park Avenue

| Taunton

| Somerset

| TA1 2PX

| REGISTERED NUMBER: | 13851532 (England and Wales)

| ACCOUNTANTS: | A C Mole LLP

| Stafford House

| Blackbrook Park Avenue

| Taunton

| Somerset

| TA1 2PX

Gulfjet Aviation Ltd (Registered number: 13851532)

Balance Sheet

31 January 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 15,000 |  | 33,000 |  |

Debtors | 4 | 1,013 |  | 4,820 |  |

Cash at bank | 2,241 |  | 586 |  |

18,254 |  | 38,406 |  |

CREDITORS

Amounts falling due within one year | 5 | 355,277 |  | 947,416 |  |

NET CURRENT LIABILITIES | (337,023 | ) | (909,010 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (337,023 | ) | (909,010 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (337,123 | ) | (909,110 | ) |

(337,023 | ) | (909,010 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 October 2025 and were signed by:

A L Rose - Director

Gulfjet Aviation Ltd (Registered number: 13851532)

Notes to the Financial Statements

for the Year Ended 31 January 2025

1. | STATUTORY INFORMATION

| Gulfjet Aviation Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| Stocks

| Stock comprises aircraft held for resale which are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| i) Financial assets

| Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

| At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

| ii) Financial liabilities

| Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at

| transaction price and subsequently measured at amortised 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.

| Consolidation

| The accounts include the results for Gulfjet Aviation Limited only. The company is exempt from the requirement to prepare consolidated accounts under s.399 of the Companies Act 2006 as the company is subject to the small companies regime.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2024 - NIL).

Gulfjet Aviation Ltd (Registered number: 13851532)

Notes to the Financial Statements - continued

for the Year Ended 31 January 2025

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 1,013 |  | 4,820 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 6,092 |  | 4,560 |  |

| Amounts owed to related parties | - |  | 600,005 |  |

| Taxation and social security | - |  | 40,008 |  |

| Other creditors | 349,185 |  | 302,843 |  |

355,277 |  | 947,416 |  |

| Included within other creditors is an amount owed to Mr A Rose, a Director of the company, totalling £346,975 (2024: £296,174).

| Amounts owed to related parties of £0 (2024: £600,005) relate to amounts owed to a company under common control.

6. | RELATED PARTY DISCLOSURES

| Amounts owed to related parties of £0 (2023: £600,005) relate to amounts owed to a company under common control.

| During the year, this loan has been subsequently written off as irrecoverable as the related party company is in the process of being struck-off.