ACCOUNTS - Final Accounts preparation

Registered number: 16290547

Corbeau II Limited

Unaudited

Financial statements

For the Period Ended 31 July 2025


Corbeau II Limited

Contents

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 8


Corbeau II Limited Registered number:16290547

Balance Sheet

As at 31 July 2025

		2025
Note		£

Fixed assets
Tangible assets	4		264,815
Current assets
Debtors: amounts falling due within one year	5	39,790
		39,790
Creditors: amounts falling due within one year	6	(302,490)
Net current liabilities			(262,700)
Provisions for liabilities
Deferred tax	7		(34,000)
Net liabilities			(31,885)

Capital and reserves
Called up share capital	8	100
Profit and loss account		(31,985)
Total shareholders' deficit		(31,885)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1


Corbeau II Limited Registered number:16290547

Balance Sheet (continued)

As at 31 July 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 May 2026.

___________________________

P Teare

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

1.	General information

Corbeau II Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales under the Companies Act. The registered number of the company is 16290547 and its registered office is Hill Helicopters Production Centre One, Unit 3, Shackleton Way, Stafford, Staffordshire, ST16 1GY. The principal activity of the company is the rental of private helicopters to fellow group companies.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in the Company's functional currency of GBP (Sterling). They are prepared to the nearest £1.

The following principal accounting policies have been applied:

2.2

Going concern

At 31 July 2025, the company has net current liabilities of £262,700. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements due to the support being guaranteed by group companies. Thus they have concluded that it is reasonable to prepare the financial statements on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

11%

straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

Employees

The Company has no employees other than the directors, who did not receive any remuneration.

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost
	Additions	275,000
	At 31 July 2025	275,000
	Depreciation
	Charge for the period	10,185
	At 31 July 2025	10,185
	Net book value
	At 31 July 2025	264,815

Debtors

					2025
					£


	Amounts owed by group undertakings	32,131
	Other debtors	1,360
	Prepayments and accrued income	6,299
		39,790

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

Page 6


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

6.	Creditors: Amounts falling due within one year
		2025
		£

	Amounts owed to group undertakings	142,336
	Other creditors	159,398
	Accruals and deferred income	756
		302,490

Amounts owed to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

7.	Deferred taxation

		2025
		£

	Charged to profit or loss	(34,000)
	At end of year	(34,000)

	The deferred taxation balance is made up as follows:
					2025
					£

	Fixed asset timing differences	(66,000)
	Losses and other deductions	32,000
		(34,000)

Page 7


Corbeau II Limited

Notes to the Financial Statements

For the Period Ended 31 July 2025

8.	Share capital
		2025
		£

		Allotted, called up and fully paid

		100 Ordinary shares of £1.00 each	100

On incorporation, 100 Ordinary shares of £1.00 each were issued at par. The shares rank pari-passu in respect of voting rights, dividend rights and distribution rights on winding up.

9.	Controlling party

At 31 July 2025, the immediate parent undertaking is Dynamiq Asset Holdings Limited, a company incorporated in the United Kingdom and registered in England and Wales.

At 31 July 2025, the ultimate parent undertaking is Dynamiq Engineering Limited, a company incorporated in the United Kingdom and registered in England and Wales. Copies of these financial statements can be obtained from Unit 3 Shackleton Way, Stafford, Staffordshire, ST16 1GY.

The group’s share capital is held wholly by the directors, J L Hill and I S Hill, in equal proportions, therefore there is no one ultimate controlling party.

Page 8