REGISTERED NUMBER: 05553431 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

Smart Aviation Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Hawkins

SECRETARY:

M Hawkins

REGISTERED OFFICE:

Smart House

C2 Windsor Place

Faraday Road

Crawley

West Sussex

RH10 9TF

REGISTERED NUMBER:

05553431 (England and Wales)

ACCOUNTANTS:

AM-PM Accounting Solutions Limited

Building 6000

Langstone Technology Park

Langstone Road

Havant

Hampshire

PO9 1SA

FIXED ASSETS

Tangible assets

4

52,834

67,042

CURRENT ASSETS

Debtors

5

2,089,394

1,476,616

Cash at bank

298,231

297,831

2,387,625

1,774,447

CREDITORS

Amounts falling due within one year

6

2,399,783

1,923,935

NET CURRENT LIABILITIES

(12,158

)

(149,488

)

TOTAL ASSETS LESS CURRENT LIABILITIES

40,676

(82,446

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

40,576

(82,546

)

SHAREHOLDERS' FUNDS

40,676

(82,446

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 16 March 2026 and were signed by:

M Hawkins - Director

1.	STATUTORY INFORMATION

Smart 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.

Turnover

Turnover represents net commission receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

30% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

24,985

75,324

57,466

157,775

Additions

-

109,899

1,799

111,698

Disposals

-

(135,224

)

-

(135,224

)

At 31 December 2025

24,985

49,999

59,265

134,249

DEPRECIATION

At 1 January 2025

19,918

27,305

43,510

90,733

Charge for year

760

20,541

4,727

26,028

Eliminated on disposal

-

(35,346

)

-

(35,346

)

At 31 December 2025

20,678

12,500

48,237

81,415

NET BOOK VALUE

At 31 December 2025

4,307

37,499

11,028

52,834

At 31 December 2024

5,067

48,019

13,956

67,042

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,533,279

649,344

Amounts owed by group undertakings

505,092

559,637

Other debtors

51,023

267,635

2,089,394

1,476,616

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

752,091

808,394

Taxation and social security

89,101

12,589

Other creditors

1,558,591

1,102,952

2,399,783

1,923,935

7.	FINANCIAL INSTRUMENTS

A charge was registered at Companies House on 16 April 2009. The charge is by way of first fixed with full title guarante, and pledges in favour of CSUKL, as a continuing security for payment and discharge in full of the Liabilities.

The person entitled to this charge is Credit Suisse (UK) Limited.

A further charge was registered at Companies House on 12 June 2014. The charge is over Deposits (By Company).

The person entitled to this charge is Aib Group (UK) P.L.C.

8.	ULTIMATE CONTROLLING PARTY

Mr M Hawkins owns 100% of the issued share capital of Red Barracuda Holdings Limited, the ultimate parent company.