REGISTERED NUMBER: 02107961 (England and Wales)

SOUTH EAST AIRPORTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

JM Gordon

Mrs A W Gordon

REGISTERED OFFICE:

82 High Street

Tenterden

Kent

TN30 6JG

REGISTERED NUMBER:

02107961 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

82 High Street

Tenterden

Kent

TN30 6JG

FIXED ASSETS

Investments

4

612,617

612,617

CURRENT ASSETS

Debtors

5

1,739,969

1,739,969

Cash at bank

281,995

287,055

2,021,964

2,027,024

CREDITORS

Amounts falling due within one year

6

1,657

2,777

NET CURRENT ASSETS

2,020,307

2,024,247

TOTAL ASSETS LESS CURRENT LIABILITIES

2,632,924

2,636,864

CREDITORS

Amounts falling due after more than one year

7

327,783

324,638

NET ASSETS

2,305,141

2,312,226

CAPITAL AND RESERVES

Called up share capital

8

513,583

513,583

Retained earnings

1,791,558

1,798,643

SHAREHOLDERS' FUNDS

2,305,141

2,312,226

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 30th December 2025 and were signed on its behalf by:

JM Gordon - Director

1.	STATUTORY INFORMATION

South East Airports 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.

Whilst the company has a net asset position at the year end, the company is dependent upon the trading activity of its fellow group companies and vice versa. The directors of the company are of the opinion that the financial statements should be prepared on a going concern basis as they have reviewed the activities and position of the group as a whole and the companies will continue to provide such financial support to each other as is necessary.

Preparation of consolidated financial statements

The financial statements contain information about South East Airports Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any impairment for permanent diminution in value.

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.

Investments

Investment in shares of unlisted companies is stated at cost, less amounts written off for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 1 ).

4.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1st April 2024

and 31st March 2025

228,001

384,616

612,617

NET BOOK VALUE

At 31st March 2025

228,001

384,616

612,617

At 31st March 2024

228,001

384,616

612,617

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,739,969

1,739,969

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

1,657

2,777

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

327,783

324,638

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

513,583

Ordinary

£1

513,583

513,583

9.	RELATED PARTY DISCLOSURES

South East Airports Limited is part of a group in which the ultimate parent company is Atlantic Bridge Aviation Limited, a company registered in the UK. At the end of the year Atlantic Bridge Aviation Limited owed £1,739,969 (2024: £1,739,969) to the company. No interest is charged on this or the other group intercompany balances.

At the year end LyddAir Limited, a subsidiary of the company, was owed £326,533 (2024: £324,638) from the company.

The company has claimed exemption from disclosing detailed related party transactions as all the above companies are all wholly owned subsidiaries in the group.

10.	OTHER FINANCIAL COMMITMENTS

The company has given a fixed and floating charge over the assets of the company.

The company has provided a composite company multilateral guarantee for all the companies within the group.

The company has issued a mortgage on its unlisted investment.

The company has agreed to provide financial assistance to its fellow group companies.