Advanced Logistics for Aerospace (UK)Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 02265000 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ADVANCED LOGISTICS FOR AEROSPACE (UK)LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

7

Other Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

V Genna

F Scannapieco

R Tonna

REGISTERED OFFICE:

Unit A3, Royal Mills

Sandown Industrial Park

Mill Road

Esher

KT10 8BL

REGISTERED NUMBER:

02265000 (England and Wales)

AUDITORS:

Lawes & Co UK Limited (Statutory Auditors)

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

2025 has seen a continuation of previous year growth, both operational and presence in the market. Revenues have increased to £25.6m (2024 £17.4m) and gross profit has increased to £6.88m (2024 £4.53m), a 31.7% increase in revenues and 51.8% increase in gross profit year on year. Administrative costs have increased slightly to accommodate the growth in sales and inflationary pressures. The operating profit posted for the year amounted to £3.4m (2024 £1.3m).

The company has seen another year of growing bookings of £27.5m for 2025 (2024 £23.1m) allowing us to continue to grow our footprint within the market going forward. We continue to grow our relationships with key strategic partners which underpin these bookings, and look to maintain and grow these partnerships, whilst also looking to branch into new geographical areas. The company will continue to invest in stocking fast moving and strategic parts to maintain a competitive edge in the market and increasing stock levels to support existing customer contracts.

PRINCIPAL RISKS AND UNCERTAINTIES

As for many businesses of our size, the business environment in which we operate continues to be challenging. With these risks and uncertainties in mind, we are satisfied with the level of trading that has been achieved this year and continue to forecast slow but steady growth over the next year.

There is currently significant uncertainty in the UK economy due to inflationary pressures. However, the Directors have taken all reasonable steps to ensure that the company is able to continue through the uncertainty and for a period of at least 12 months. As a result, the Directors' considerate it appropriate to continue preparing the accounts on a going concern basis.

ON BEHALF OF THE BOARD:

F Scannapieco - Director

22 April 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of trading in aerospace and defence related components.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

V Genna

F Scannapieco

R Tonna

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Lawes & Co UK Limited (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

F Scannapieco - Director

22 April 2026

Opinion

We have audited the financial statements of Advanced Logistics for Aerospace (UK)Ltd (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going to concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and indirect taxes impacting the different territories, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and the manipulation of stock values and management bias in accounting estimates. Audit procedures performed by the engagement team included, but were not limited to:

- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;

- challenging assumptions and judgements made by management in their significant accounting estimates, in particular, in relation to stock values and stock provisions;

- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations and postings by unusual users.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Paul Freeman BA FCA FCCA (Senior Statutory Auditor)

for and on behalf of Lawes & Co UK Limited (Statutory Auditors)

Boyce's Building

40-42 Regent Street

Clifton

Bristol

BS8 4HU

6 May 2026

TURNOVER

25,674,346

17,399,495

Cost of sales

18,790,733

12,865,818

GROSS PROFIT

6,883,613

4,533,677

Administrative expenses

3,457,059

3,233,765

OPERATING PROFIT

4

3,426,554

1,299,912

Interest payable and similar expenses

5

355,337

48,384

PROFIT BEFORE TAXATION

3,071,217

1,251,528

Tax on profit

6

768,157

276,024

PROFIT FOR THE FINANCIAL YEAR

2,303,060

975,504

PROFIT FOR THE YEAR

2,303,060

975,504

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,303,060

975,504

FIXED ASSETS

Tangible assets

7

236,590

272,591

CURRENT ASSETS

Stocks

8

14,184,209

9,890,272

Debtors

9

8,258,605

6,294,276

Cash at bank

1,159,209

1,686,072

23,602,023

17,870,620

CREDITORS

Amounts falling due within one year

10

13,272,788

9,871,446

NET CURRENT ASSETS

10,329,235

7,999,174

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,565,825

8,271,765

PROVISIONS FOR LIABILITIES

12

59,147

68,147

NET ASSETS

10,506,678

8,203,618

CAPITAL AND RESERVES

Called up share capital

13

100,000

Retained earnings

14

10,406,678

8,103,618

SHAREHOLDERS' FUNDS

10,506,678

8,203,618

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2026 and were signed on its behalf by:

F Scannapieco - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 January 2024

100,000

7,128,114

7,228,114

Changes in equity

Total comprehensive income

-

975,504

Balance at 31 December 2024

100,000

8,103,618

8,203,618

Changes in equity

Total comprehensive income

-

2,303,060

Balance at 31 December 2025

100,000

10,406,678

10,506,678

Cash flows from operating activities

Cash generated from operations

1

107,080

1,699,488

Interest paid

(355,337

)

(48,384

)

Tax paid

(243,634

)

(25,202

)

Net cash from operating activities

(491,891

)

1,625,902

Cash flows from investing activities

Purchase of tangible fixed assets

(34,972

)

(17,453

)

Net cash from investing activities

(34,972

)

(17,453

)

(Decrease)/increase in cash and cash equivalents

(526,863

)

1,608,449

Cash and cash equivalents at
beginning of year

2

1,686,072

77,623

Cash and cash equivalents at end of
year

2

1,159,209

1,686,072

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.25

31.12.24

£

Profit before taxation

3,071,217

1,251,528

Depreciation charges

70,973

65,695

Finance costs

355,337

48,384

3,497,527

1,365,607

Increase in stocks

(4,293,937

)

(2,943,063

)

Increase in trade and other debtors

(1,964,329

)

(168,566

)

Increase in trade and other creditors

2,867,819

3,445,510

Cash generated from operations

107,080

1,699,488

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

Cash and cash equivalents

1,159,209

1,686,072

Year ended 31 December 2024

31.12.24

1.1.24

£

Cash and cash equivalents

1,686,072

77,623

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

Net cash

Cash at bank

1,686,072

(526,863

)

1,159,209

1,686,072

(526,863

)

1,159,209

Total

1,686,072

(526,863

)

1,159,209

1.	STATUTORY INFORMATION

Advanced Logistics for Aerospace (UK)Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures, fittings & equipment

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Pensions

The company operates a defined contribution pension scheme, and the pension charge represents the amounts paid by the company to the fund in respect of the year.

Deferred taxation

Full provision is made at current tax rates in respect of any material timing differences that have originated but not reversed at the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

Wages and salaries

2,005,034

1,818,202

Social security costs

252,920

191,197

Other pension costs

172,619

182,290

2,430,573

2,191,689

The average number of employees during the year was as follows:

31.12.25

31.12.24

Sales & administration staff

35

31

Directors

3

38

34

31.12.25

31.12.24

£

Directors' remuneration

441,424

412,777

Information regarding the highest paid director is as follows:

31.12.25

31.12.24

£

Emoluments etc

441,424

412,777

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.25

31.12.24

£

Hire of plant and machinery

6,129

8,435

Depreciation - owned assets

70,973

65,694

Auditors' remuneration

26,500

25,500

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

Other interest

248,285

10,088

Foreign exchange (gain)/loss

30,703

(56,070

)

Bank charges

76,349

94,366

355,337

48,384

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.25

31.12.24

£

Current tax:

UK corporation tax

777,157

268,836

Deferred tax

(9,000

)

7,188

Tax on profit

768,157

276,024

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.25

31.12.24

£

Profit before tax

3,071,217

1,251,528

Profit multiplied by the standard rate of corporation tax in the UK of
25% (2024 - 25%)

767,804

312,882

Effects of:

Expenses not deductible for tax purposes

353

650

Depreciation for period in excess of capital allowances

9,000

12,060

Losses bought forward

-

(56,756

)

Deferred Tax

(9,000

)

7,188

Total tax charge

768,157

276,024

7.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

fittings

Computer

property

& equipment

equipment

Totals

£

COST

At 1 January 2025

203,396

185,562

479,667

868,625

Additions

13,259

21,713

-

34,972

At 31 December 2025

216,655

207,275

479,667

903,597

DEPRECIATION

At 1 January 2025

37,289

81,635

477,110

596,034

Charge for year

21,274

48,519

1,180

70,973

At 31 December 2025

58,563

130,154

478,290

667,007

NET BOOK VALUE

At 31 December 2025

158,092

77,121

1,377

236,590

At 31 December 2024

166,107

103,927

2,557

272,591

8.

STOCKS

31.12.25

31.12.24

£

Stocks

14,184,209

9,890,272

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade debtors

7,693,028

6,004,263

Other debtors

392,216

237,712

VAT

49,344

-

Prepayments

124,017

52,301

8,258,605

6,294,276

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

Trade creditors

7,649,079

6,251,408

Tax

777,157

243,634

Social security and other taxes

51,559

45,296

VAT

-

190,755

Factoring

(16,987

)

1,749,535

Other creditors

4,027,961

199,723

Accrued expenses

784,019

1,191,095

13,272,788

9,871,446

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

Within one year

160,984

Between one and five years

544,096

569,056

In more than five years

408,072

544,096

1,113,152

1,274,136

12.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

Deferred tax

59,147

68,147

Deferred

tax

£

Balance at 1 January 2025

68,147

Provided during year

(9,000

)

Reversal of timing differences

Balance at 31 December 2025

59,147

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

100,000

Ordinary

£1

100,000

14.

RESERVES

Retained

earnings

£

At 1 January 2025

8,103,618

Profit for the year

2,303,060

At 31 December 2025

10,406,678

15.	ULTIMATE CONTROLLING PARTY

Advanced Logistics for Aerospace SPA, a company registered in Italy, is the ultimate parent company as it holds 100% of the share capital in Advanced Logistics for Aerospace (UK) Ltd.

There is no ultimate controlling party.