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Company No: 08760422 (England and Wales)

# PREMIER JET SUPPORT LIMITED
(Formerly Aerocare Aviation Services Limited)

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PREMIER JET SUPPORT LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PREMIER JET SUPPORT LIMITED

## BALANCE SHEET

As at 31 March 2025
PREMIER JET SUPPORT LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 145,058 |  | 117,413
|  | 145,058 |  | 117,413
Current assets |  |  |  |
Stocks |  | 925,486 |  | 739,219
Debtors | 4 | 1,425,305 |  | 1,301,877
Cash at bank and in hand | 5 | 6,476 |  | 281
|  | 2,357,267 |  | 2,041,377
Creditors: amounts falling due within one year | 6 | ( 10,498,903) |  | ( 7,060,239)
Net current liabilities |  | (8,141,636) |  | (5,018,862)
Total assets less current liabilities |  | (7,996,578) |  | (4,901,449)
Creditors: amounts falling due after more than one year | 7 | ( 24,604) |  | ( 108,604)
Net liabilities |  | ( 8,021,182) |  | ( 5,010,053)
Capital and reserves |  |  |  |
Called-up share capital |  | 1,000 |  | 1,000
Profit and loss account |  | ( 8,022,182 ) |  | ( 5,011,053 )
Total shareholder's deficit |  | ( 8,021,182) |  | ( 5,010,053)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Premier Jet Support Limited (registered number: 08760422) were approved and authorised for issue by the Director on 13 April 2026. They were signed on its behalf by:

Warren Henry Crook Director |

PREMIER JET SUPPORT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PREMIER JET SUPPORT LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Premier Jet Support Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leeward House Fitzroy Road, Exeter Business Park, Exeter, EX1 3LJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

These financial statements are prepared on the going concern basis. The company has realised losses in the year of £3,011,129 and has net liabilities of £8,021,182 as at the balance sheet date. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future, although is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern, primarily the deficit on the balance sheet.
The company has the continued support of it's director and related companies and the director and shareholder are focused on turning the company to profitability. Significant rebranding having taken place on 31 March 2026, emphasising the continued investment into this turnaround. The company is forecast to breakeven in the year ended 31 March 2026 with projected profits to be realised in the following year to 31 March 2027.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for aircraft maintenance and modification services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer, the amount of revenue can be measured reliably, it is probably that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be reliably estimated, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets , other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 4 years straight line
Vehicles | 4 years straight line
Fixtures and fittings | 4 years straight line
Office equipment | 2 - 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 49 |  | 40

#### 3. Tangible assets

| Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 154,355 |  | 25,055 |  | 0 |  | 128,111 |  | 307,521
Additions | 47,367 |  | 0 |  | 30,822 |  | 1,192 |  | 79,381
At 31 March 2025 | 201,722 |  | 25,055 |  | 30,822 |  | 129,303 |  | 386,902
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 68,313 |  | 11,912 |  | 0 |  | 109,883 |  | 190,108
Charge for the financial year | 36,533 |  | 4,564 |  | 4,089 |  | 6,550 |  | 51,736
At 31 March 2025 | 104,846 |  | 16,476 |  | 4,089 |  | 116,433 |  | 241,844
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 96,876 |  | 8,579 |  | 26,733 |  | 12,870 |  | 145,058
At 31 March 2024 | 86,042 |  | 13,143 |  | 0 |  | 18,228 |  | 117,413

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 1,089,914 |  | 884,551
Prepayments | 155,723 |  | 99,158
VAT recoverable | 148,021 |  | 0
Other debtors | 31,647 |  | 318,168
| 1,425,305 |  | 1,301,877

#### 5. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 6,476 |  | 281
Less: Bank overdrafts | ( 1,013) |  | ( 4,201)
| 5,463 |  | (3,920)

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts (secured £ 85,989) | 87,002 |  | 87,292
Trade creditors | 3,759,848 |  | 2,104,913
Amounts owed to director | 175,000 |  | 0
Other loans | 4,276,606 |  | 2,163,296
Accruals and deferred income | 1,233,124 |  | 1,526,052
Other taxation and social security | 338,597 |  | 462,408
Other creditors | 628,726 |  | 716,278
| 10,498,903 |  | 7,060,239

The bank loan is secured by a fixed and floating charge over the company's assets.

Included within other creditors is a secured , interest bearing loan due to Aerocare International Limited of £614,284 (2024 - £614,284) the loan is a mortgage with security over the freehold property and buildings with which it relates and is repayable on demand. Aerocare International Limited are now in administration.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 24,604 |  | 108,604

The bank loan is secured by a fixed and floating charge over the company's assets.

#### 8. Financial commitments

Commitments

| 2025 |  | 2024
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 893,431 |  | 1,164,742

#### 9. Related party transactions

Transactions with the entity's director

| 2025 |  | 2024
| £ |  | £
Directors' Loan Account- owed by company to director (creditor) | 175,000 |  | 0

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Complete Aircraft Tooling Limited- creditor | 1,569,813 |  | 1,384,663
The Mobile Repair Team Limited- creditor | 781,239 |  | 489,439
The Mobile Repair Team Canada- creditor | 1,217,657 |  | 164,948
ELMS Aviation Limited- creditor | 136,000 |  | 27,126
Meridian Contractor Services Limited- Creditor | 571,897 |  | 97,120

Included in creditors falling due within one year is an interest-bearing loan of £614,284 (2024: £614,284) due to Aerocare International Limited, as included in the table above. The amount is repayable on demand. Aerocare International Limited are now in administration.