Atlantic Bridge Aviation Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02335158 (England and Wales)

ATLANTIC BRIDGE AVIATION 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:

J M Gordon

Mrs A W Gordon

REGISTERED OFFICE:

82 High Street

Tenterden

Kent

TN30 6JG

REGISTERED NUMBER:

02335158 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

82 High Street

Tenterden

Kent

TN30 6JG

FIXED ASSETS

Tangible assets

4

702,811

702,850

Investments

5

1

702,812

702,851

CURRENT ASSETS

Debtors

6

9,976

15,644

Cash at bank

24,662

53,357

34,638

69,001

CREDITORS

Amounts falling due within one year

7

113,911

108,245

NET CURRENT LIABILITIES

(79,273

)

(39,244

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

623,539

663,607

CREDITORS

Amounts falling due after more than
one year

8

2,040,712

1,937,603

NET LIABILITIES

(1,417,173

)

(1,273,996

)

CAPITAL AND RESERVES

Called up share capital

9

1,444

Share premium

309,556

Retained earnings

(1,728,173

)

(1,584,996

)

SHAREHOLDERS' FUNDS

(1,417,173

)

(1,273,996

)

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:

J M Gordon - Director

1.	STATUTORY INFORMATION

Atlantic Bridge Aviation 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.

The company has a net liability position at the year end. The company is dependent upon the trading activity and financial support 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 Atlantic Bridge Aviation 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Aircraft

-

not provided

Plant & office equipment

-

50% on reducing balance and 33% on reducing balance

Aircraft are not depreciated as their residual values are maintained above their cost.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant &

office

Aircraft

equipment

Totals

£

COST

At 1st April 2024

and 31st March 2025

702,735

17,380

720,115

DEPRECIATION

At 1st April 2024

-

17,265

Charge for year

-

39

At 31st March 2025

-

17,304

NET BOOK VALUE

At 31st March 2025

702,735

76

702,811

At 31st March 2024

702,735

115

702,850

In 2008, the valuations of the aircraft were reviewed and found that excessive depreciation had been applied. Consequently, depreciation was written back via an adjustment to the revaluation reserve. Since the revaluation, depreciation has been charged in accordance with the accounting policy and proportionately applied to the revaluation reserve and profit and loss reserve until 2017 when depreciation has stopped being charged as the aircraft residual values are above their carrying value.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st April 2024

and 31st March 2025

1

NET BOOK VALUE

At 31st March 2025

1

At 31st March 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

8,252

Other debtors

9,976

7,392

9,976

15,644

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Amounts owed to group undertakings

79,245

72,046

Other creditors

34,666

36,199

113,911

108,245

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Amounts owed to group undertakings

2,040,712

1,937,603

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,444

Ordinary

£1

1,444

10.	OTHER FINANCIAL COMMITMENTS

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

11.	RELATED PARTY DISCLOSURES

Atlantic Bridge Aviation Limited is the ultimate parent company in a group.

LyddAir Limited is a subsidiary and at the year end the company owed LyddAir Limited £379,987 (2024: £269,678).This is interest free as are all the intercompany loans.

South East Airports Limited is a subsidiary company and at the end of the year the company owed South East Airports Limited £1,739,969 (2024: £1,739,969).

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