IRIS Accounts Production v25.4.12.37 SC410572 Board of Directors 1.12.24 30.11.25 30.11.25 0 0 false true false false true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh SC410572 2024-11-30 SC410572 2025-11-30 SC410572 2024-12-01 2025-11-30 SC410572 2023-11-30 SC410572 2023-12-01 2024-11-30 SC410572 2024-11-30 SC410572 ns15:Scotland 2024-12-01 2025-11-30 SC410572 ns14:PoundSterling 2024-12-01 2025-11-30 SC410572 ns10:Director1 2024-12-01 2025-11-30 SC410572 ns10:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 SC410572 ns10:SmallEntities 2024-12-01 2025-11-30 SC410572 ns10:AuditExempt-NoAccountantsReport 2024-12-01 2025-11-30 SC410572 ns10:SmallCompaniesRegimeForDirectorsReport 2024-12-01 2025-11-30 SC410572 ns10:SmallCompaniesRegimeForAccounts 2024-12-01 2025-11-30 SC410572 ns10:FullAccounts 2024-12-01 2025-11-30 SC410572 ns10:OrdinaryShareClass1 2024-12-01 2025-11-30 SC410572 ns10:Director2 2024-12-01 2025-11-30 SC410572 ns10:Director3 2024-12-01 2025-11-30 SC410572 ns10:CompanySecretary1 2024-12-01 2025-11-30 SC410572 ns10:RegisteredOffice 2024-12-01 2025-11-30 SC410572 ns5:CurrentFinancialInstruments 2025-11-30 SC410572 ns5:CurrentFinancialInstruments 2024-11-30 SC410572 ns5:Non-currentFinancialInstruments 2025-11-30 SC410572 ns5:Non-currentFinancialInstruments 2024-11-30 SC410572 ns5:ShareCapital 2025-11-30 SC410572 ns5:ShareCapital 2024-11-30 SC410572 ns5:FurtherSpecificReserve3ComponentTotalEquity 2025-11-30 SC410572 ns5:FurtherSpecificReserve3ComponentTotalEquity 2024-11-30 SC410572 ns5:RetainedEarningsAccumulatedLosses 2025-11-30 SC410572 ns5:CostValuation 2024-11-30 SC410572 ns5:RevaluationsIncreaseDecreaseInInvestments 2025-11-30 SC410572 ns5:CostValuation 2025-11-30 SC410572 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-11-30 SC410572 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-11-30 SC410572 ns5:AfterOneYear ns5:Non-currentFinancialInstruments 2025-11-30 SC410572 ns5:AfterOneYear ns5:Non-currentFinancialInstruments 2024-11-30 SC410572 ns10:OrdinaryShareClass1 2025-11-30

REGISTERED NUMBER: SC410572 (Scotland)

| Unaudited Financial Statements |

| for the Year Ended 30 November 2025 |

| for |

| Chady Aero Development Ltd |

| Chady Aero Development Ltd (Registered number: SC410572) |

Contents of the Financial Statements

for the Year Ended 30 November 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chady Aero Development Ltd |

Company Information

for the Year Ended 30 November 2025

| DIRECTORS: | J N M Page

| H C M Page

| D M I P S Roth Le Gentil

| SECRETARY: | H C M Page

| REGISTERED OFFICE: | 6 Logie Mill

| Edinburgh

| Lothian

| EH7 4HG

| REGISTERED NUMBER: | SC410572 (Scotland)

| ACCOUNTANTS: | A H & Co Ltd

| Chartered Accountants

| 6 Logie Mill

| Edinburgh

| Lothian

| EH7 4HG

| Chady Aero Development Ltd (Registered number: SC410572) |

Balance Sheet

30 November 2025

| 30.11.25 | 30.11.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Investments | 4 | 3,432,623 |  | 1,987,813 |  |

CURRENT ASSETS

Debtors | 5 | 982 |  | 299,427 |  |

Cash at bank | 56,960 |  | 80,145 |  |

57,942 |  | 379,572 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,695 |  | 2,400,281 |  |

NET CURRENT ASSETS/(LIABILITIES) | 52,247 |  | (2,020,709 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,484,870 |  | (32,896 | ) |

CREDITORS

Amounts falling due after more than one year | 7 | (2,393,723 | ) | (802,074 | ) |

PROVISIONS FOR LIABILITIES | (289,098 | ) | - |  |

NET ASSETS/(LIABILITIES) | 802,049 |  | (834,970 | ) |

CAPITAL AND RESERVES

Called up share capital | 8 | 20,000 |  | 20,000 |  |

Fair value reserve | 9 | 1,083,607 |  | - |  |

Retained earnings | (301,558 | ) | (854,970 | ) |

SHAREHOLDERS' FUNDS | 802,049 |  | (834,970 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 3 March 2026 and were signed on its behalf by:

H C M Page - Director

| Chady Aero Development Ltd (Registered number: SC410572) |

Notes to the Financial Statements

for the Year Ended 30 November 2025

1. | STATUTORY INFORMATION

| Chady Aero Development Ltd is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

| The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the continuing support of the creditors.

| Financial instruments

| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement 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.

| 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.

| Provisions

| Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

| Exemption from preparing a cash flow statement

| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

| Investments

| Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

3. | EMPLOYEES AND DIRECTORS

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

| Chady Aero Development Ltd (Registered number: SC410572) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

4. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 December 2024 | 1,987,813 |  |

| Revaluations | 1,444,810 |  |

| At 30 November 2025 | 3,432,623 |  |

| NET BOOK VALUE

| At 30 November 2025 | 3,432,623 |  |

| At 30 November 2024 | 1,987,813 |  |

| Cost or valuation at 30 November 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2025 | 1,444,810 |  |

| Cost | 1,987,813 |  |

3,432,623 |  |

5. | DEBTORS

| 30.11.25 |  | 30.11.24

£ | £ |

| Amounts falling due within one year:

| Other debtors | 982 |  | 1,094 |  |

| Amounts falling due after more than one year:

| Other debtors | - |  | 298,333 |  |

| Aggregate amounts | 982 |  | 299,427 |  |

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

| 30.11.25 |  | 30.11.24

£ | £ |

| Other creditors | 5,695 |  | 2,400,281 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 30.11.25 |  | 30.11.24

£ | £ |

| Other creditors | 2,393,723 |  | 802,074 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.11.25 |  | 30.11.24

| value: | £ | £ |

| 20,000 | Ordinary | £1 | 20,000 |  | 20,000 |  |

| Chady Aero Development Ltd (Registered number: SC410572) |

Notes to the Financial Statements - continued

for the Year Ended 30 November 2025

9. | RESERVES

| Fair

| value

| reserve

£ |

| Fair value transfer | 1,083,607 |  |

| At 30 November 2025 | 1,083,607 |  |

10. | CONTINGENT ASSET

| As at 30th November 2025, the company was engaged in a legal court action for the claim for €815,530 against AEF LLP. A sum of £764,427 that is currently recognised in fixed asset investments will also be due for immediate payment pending the outcome of the court action. Based on legal counsel, a favourable outcome is probable. However as the final ruling has not yet been received, the potential gain has not been recognised as an asset in the current financial statements.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The company owed the directors £2,393,723 as at 30 November 2025 (2024: £2,390,449).

| The Directors have undertaken not to require repayment of the directors loan until the end of the court proceedings with AEF LLP and payment of any sums due there-under and not until the cashflow of the company is such that the directors loan can be fully or partly repaid without putting putting the company into a situation such that it would be unable to pay its liabilities as they fall due.

12. | RELATED PARTY DISCLOSURES

|  | Type of Transaction |  | Movement in the year ended 30.11.25 |  | Movement in the year ended 30.11.24 |  | Balance receivable from/(payable to) related party as at 30.11.25 |  | Balance receivable from/(payable to) related party as at 30.11.24 |  |

|  | £ |  | £ |  | £ |  | £ |  |

| (1) Connected company |  | Investment |  | - |  | - |  | 2,650,000 |  | 1,205,190 |  |

| (2) Connected partnership |  | Investment |  | - |  | - |  | 782,623 |  | 687,330 |  |

|  | Current account |  | - |  | - |  | - |  | (802,074) |  |

| (1) A director of the company is related to a director of the connected company.

| (2) The company is a partner of the connected partnership.

13. | ULTIMATE CONTROLLING PARTY

| The controlling party is D Roth Le Gentil, by virtue of her shareholding in the company.