ACCOUNTS - Final Accounts

Registered number: NI055244

Nacelle Systems Consultancy Ltd

Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2025

Nacelle Systems Consultancy Ltd

Registered number: NI055244

Balance Sheet

As at 31 May 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	1,191		68,662
Cash at bank and in hand		253		2,697
		1,444		71,359
Creditors: amounts falling due within one year	6	(1,442)		(70,185)
Net current assets			2		1,174
Total assets less current liabilities			2		1,174
Provisions for liabilities
Deferred tax	7	-		(1,172)
			-		(1,172)
Net assets			2		2

Capital and reserves
Called up share capital	8	2	2
		2	2

Page 1

Nacelle Systems Consultancy Ltd

Registered number: NI055244

Balance Sheet (continued)

As at 31 May 2025

The directors consider 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 year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2026.

Tom Mallon

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

Nacelle Systems Consultancy Ltd

Notes to the Financial Statements

For the Year Ended 31 May 2025

1.	General information

Nacelle Systems Consultancy Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 Section 1A, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006. .

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

The directors of the Company elected to cease trading within the year. The directors intention is to dissolve the Company in 2026 and therefore the going concern principle is not applicable to the preparation of these accounts.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

Nacelle Systems Consultancy Ltd

Notes to the Financial Statements

For the Year Ended 31 May 2025

2.Accounting policies (continued)

2.4

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.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

Nacelle Systems Consultancy Ltd

Notes to the Financial Statements

For the Year Ended 31 May 2025

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

2.7

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.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying the Company's accounting policies, management has not made any significant judgements. There are no key assumptions concerning the future or other key sources of estimation, that have a significant risk of raising a material adjustment to the carrying amounts of assets and liabilites within the financial year.

Page 5

Nacelle Systems Consultancy Ltd

Notes to the Financial Statements

For the Year Ended 31 May 2025

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2025	2024
	No.	No.

Employees	2	6

5.	Debtors: amounts falling due within one year

					2025	2024
					£	£


Amounts owed by group undertakings	1,191	62,154
Other debtors	-	6,508
	1,191	68,662

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Trade creditors	1,442	301
Amounts owed to group undertakings	-	58,341
Corporation tax	-	6,263
Accruals and deferred income	-	5,280
	1,442	70,185

7.	Deferred taxation

	2025	2024
	£	£

At beginning of year	(1,173)	(1,173)
Charged to profit or loss	1,173	-
At end of year	-	(1,173)

Page 6

Nacelle Systems Consultancy Ltd

Notes to the Financial Statements

For the Year Ended 31 May 2025

7.Deferred taxation (continued)

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	-	(1,173)
		-	(1,173)

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

500 (2024 - 500) Ordinary A Shares of £0.002 each-	1	1
500 (2024 - 500) Ordinary B Shares of £0.002 each-	1	1

	2	2

Reserves

Profit and loss account

This balance includes all prior and current periods retained profit and losses.

10.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £0 (2024 - £26,308).

11.	Related party transactions
	Advantage has been taken of the exemption under FRS 102 Section 33.1A not to disclose transactions between wholly owned members of the same group.

12.	Controlling party

Nacelle Systems Consultancy Ltd is a wholly owned subsidiary of its parent undertaking Nacelle Group Holdings Limited.

Page 7