REGISTERED NUMBER: 03089944 (England and Wales)

Financial Statements for the Year Ended 31 August 2025

for

Specialist Aviation Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D F Hammond

REGISTERED OFFICE:

Aerospace Logistics Centre

Unit 2B

Dunhams Lane

Letchworth Garden City

Hertfordshire

SG6 1BE

REGISTERED NUMBER:

03089944 (England and Wales)

AUDITORS:

Godfrey Laws Audit Limited

65 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

133,567

167,515

Investments

6

87

87

133,654

167,602

CURRENT ASSETS

Stocks

1,979,102

2,638,873

Debtors

7

2,783,898

2,685,131

Cash at bank and in hand

610,740

462,450

5,373,740

5,786,454

CREDITORS

Amounts falling due within one year

8

3,801,854

4,087,022

NET CURRENT ASSETS

1,571,886

1,699,432

TOTAL ASSETS LESS CURRENT LIABILITIES

1,705,540

1,867,034

PROVISIONS FOR LIABILITIES

21,223

27,341

NET ASSETS

1,684,317

1,839,693

CAPITAL AND RESERVES

Called up share capital

11

560

560

Capital redemption reserve

499

499

Retained earnings

1,683,258

1,838,634

SHAREHOLDERS' FUNDS

1,684,317

1,839,693

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 26 May 2026 and were signed by:

D F Hammond - Director

1.	STATUTORY INFORMATION

Specialist Aviation 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Specialist Aviation Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Specialist Aviation Holding Ltd, .

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods and management fees , excluding value added tax.

Operating income includes net rental income for storage and recharged costs, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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.

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

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 18 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2024

and 31 August 2025

16,000

AMORTISATION

At 1 September 2024

and 31 August 2025

16,000

NET BOOK VALUE

At 31 August 2025

-

At 31 August 2024

-

5.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 September 2024

26,317

133,209

562,103

Additions

-

-

-

Disposals

-

-

(539,291

)

At 31 August 2025

26,317

133,209

22,812

DEPRECIATION

At 1 September 2024

25,370

38,074

544,050

Charge for year

710

10,168

4,299

Eliminated on disposal

-

-

(539,292

)

At 31 August 2025

26,080

48,242

9,057

NET BOOK VALUE

At 31 August 2025

237

84,967

13,755

At 31 August 2024

947

95,135

18,053

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2024

176,879

12,000

149,670

1,060,178

Additions

-

-

2,037

2,037

Disposals

-

-

-

(539,291

)

At 31 August 2025

176,879

12,000

151,707

522,924

DEPRECIATION

At 1 September 2024

157,610

4,400

123,159

892,663

Charge for year

4,428

2,400

13,981

35,986

Eliminated on disposal

-

-

-

(539,292

)

At 31 August 2025

162,038

6,800

137,140

389,357

NET BOOK VALUE

At 31 August 2025

14,841

5,200

14,567

133,567

At 31 August 2024

19,269

7,600

26,511

167,515

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 September 2024

and 31 August 2025

87

NET BOOK VALUE

At 31 August 2025

87

At 31 August 2024

87

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Trade debtors

961,489

1,231,867

Amounts owed by group undertakings

1,041,664

989,683

Other debtors

780,745

463,581

2,783,898

2,685,131

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts

-

209,526

Trade creditors

590,275

550,409

Amounts owed to group undertakings

2,163,705

2,238,516

Taxation and social security

247,947

374,618

Other creditors

799,927

713,953

3,801,854

4,087,022

9.	LEASING AGREEMENTS

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

31.8.25

31.8.24

£

£

Within one year

304,449

349,199

Between one and five years

624,452

942,723

928,901

1,291,922

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.25

31.8.24

£

£

Bank overdraft

-

209,526

Securities include:

Fixed and floating charge created in favour of LLoyds Bank to cover all property or undertaking of the company. The charge includes a negative pledge.

The Fixed and floating charge created in favour of LLoyds bank on the leasehold property, known as Stanley House, Works Road, Letchworth Garden City, Herts SG6 1J, was satisfied on 11 July 2024.

Fixed and floating charge created in favour of Aldermore Bank PLC to cover all property or undertaking of the company. The charge was satisfied after the year end.

The company has a charge in the form a rent deposit deed in favour of Davis Schottlander & Davis Limited. A deposit sum of £12,487 plus vat is included in other debtors. The amount is secured over all monies due or become due to the company.

The company has an omnibus guarantee and set off agreement with it's fellow group companies:

Cabinair Services Ltd

SATTO Solutions Ltd

HSM Aero Ltd

Specialist Aviation Holding Ltd

Specialist Aviation Properties Ltd

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.25

31.8.24

value:

£

£

501

Ordinary

£1

504

504

56

Growth shares

£1

56

56

560

560

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Howard Ashmore FCA (Senior Statutory Auditor)

for and on behalf of Godfrey Laws Audit Limited

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the following amounts are due from companies under common control:

31.8.2025

31.8.2024

£

£

Specialist Aviation Ireland Ltd

125,477

69,441

Specialist Aviation Properties Ltd

916,187

920,242

At the balance sheet date, the following amounts are due to companies under common control

31.8.2025

31.8.2024

£

£

Specialist Aviation Holding Limited

2,163,705

2,238,516

The controlling party is D F Hammond.

14.	ULTIMATE PARENT COMPANY

During the year, the ultimate parent company and controlling party was Specialist Aviation Holdings Limited.

Subsequent to the year end, the ultimate parent company was changed to DH Holdings Limited.

The registered office of the ultimate parent company is:

Aerospace Logistics Centre

Fifth Avenue

Letchworth Garden City

Herts

SG6 2TS

The ultimate parent company is incorporated in England and Wales.