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C E Aviation UK Limited
Annual Report and Financial Statements
Year Ended 30 September 2025

Registration number: 06863331

C E Aviation UK Limited

Contents

Balance Sheet | 1
Notes to the Financial Statements | 2 to 11

C E Aviation UK Limited

Balance Sheet

30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,621,752 | 1,662,604
Current assets |  |  |
Debtors (including £439,424 due after more than one year (2024 - £91,779)) | 5 | 489,708 | 132,367
Cash at bank and in hand |  | 31,214 | 25,693
|  | 520,922 | 158,060
Creditors: Amounts falling due within one year | 6 | (151,953) | (153,128)
Net current assets |  | 368,969 | 4,932
Total assets less current liabilities |  | 1,990,721 | 1,667,536
Creditors: Amounts falling due after more than one year | 6 | (2,392,780) | (2,022,457)
Net liabilities |  | (402,059) | (354,921)
Capital and reserves |  |  |
Called up share capital | 8 | 3,527 | 3,527
Share premium reserve |  | 2,296,897 | 2,296,897
Profit and loss account |  | (2,702,483) | (2,655,345)
Shareholders' deficit |  | (402,059) | (354,921)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 May 2026 and signed on its behalf by:

......................................... Mr V S Thayanandarajah Director |

Company Registration Number: 06863331

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Kingsley House
Clapham Road South
Lowestoft
Suffolk
NR32 1QS

The business address is the same as the registered office address.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end date, the company had net liabilities of £402,059 (2024: £354,921) and incurred a net loss for the year then ended of £47,138 (2024: £432,947).
The directors believe, with the support of the parent company and the directors, the company has sufficient working capital to continue to trade for the foreseeable future.
Therefore the directors continue to adopt a going concern basis in preparing the financial statements. The financial statements do not include any adjustments that would result from any change in the company's circumstances such that the going concern basis would no longer be appropriate.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Key accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The key estimates that have a significant effect on the amounts recognised in the financial statements are described below:
Group recharges
Cost re-allocations are required in order to fairly reflect the cost of management services borne by group companies and entities under common control. These are based on judgemental estimates of the proportion of management time spent in areas of the business which are different from where the payroll cost is originally processed, and where joint contracts of employment are in place.
Intercompany loan interest
The business trades as part of a group. In addition to recharges of central costs and other trading settlements, management charges are raised to reflect the cost of funding arranged at a group level. Significant balances with group and other connected parties arise, these balances are due after more than one year. The lending company charges interest on these loans using a market rate for an equivalent third party loan.
The carrying value of amounts owed to/from group companies and entities under common control can be found in note 5 and 6.
Management are required to make estimates as to the outflow of economic benefits which will be required to settle an obligation in making provisions.

Revenue recognition

Revenue represents amounts chargeable, net of value added tax, in respect of the sale of services to customers and is recognised when the service has been delivered.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense
recognised as other comprehensive income is also recognised directly in other comprehensive
income.

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

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below.
Timing differences are differences between taxable profits and the results as stated in the profit and
loss account and other comprehensive income. Deferred tax is determined using tax rates and laws
that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation
allowance is set up against deferred tax assets so that the net carrying amount equals the highest
amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Helicopter | Straight line over 10 - 30 years

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Financial instruments

The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Loans with group companies and entities under common control; and
• Cash and bank balances.
All financial instruments are classified as basic.
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for loans with group companies and entities under common control, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Loans with group companies and entities under common control are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 0).

Throughout the year, the directors were wholly remunerated by another group company.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

4 | Tangible assets

| Helicopter £
Cost or valuation
At 1 October 2024 | 1,886,365
Additions | 50,635
At 30 September 2025 | 1,937,000
Depreciation
At 1 October 2024 | 223,761
Charge for the year | 91,487
At 30 September 2025 | 315,248
Carrying amount
At 30 September 2025 | 1,621,752
At 30 September 2024 | 1,662,604

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 13,937 | -
Amounts owed by group undertakings | 387,224 | 32,523
Prepayments | 36,102 | 35,201
Other debtors | 52,445 | 64,643
| 489,708 | 132,367
Less non-current portion | (439,424) | (91,779)
| 50,284 | 40,588

Details of non-current trade and other debtors

£387,224 (2024 - £32,523) of amounts owed by group undertakings is classified as non current.

£52,200 (2024 - £59,256) of amounts owed by connected companies, included in other debtors, is classified as non current.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

6 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 7 | 69,038 | 65,352
Trade creditors |  | 45,201 | 67,584
Taxation and social security |  | 32,907 | 15,642
Accruals and deferred income |  | 4,550 | 4,550
Other creditors |  | 257 | -
|  | 151,953 | 153,128

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 7 | 431,375 | 474,571
Amounts owed to group undertakings |  | 232,634 | -
Amounts owed to connected companies |  | 1,728,771 | 1,547,886
|  | 2,392,780 | 2,022,457

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

7 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 431,375 | 474,571

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 69,038 | 65,352

Bank borrowings

Bank loan is denominated in sterling, £, with a nominal interest rate of 4.5% above base rate, and the final instalment is due on 31 August 2027. The carrying amount at year end is £500,413 (2024 - £539,923). The bank loans are secured by a charge over the company's assets.

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 | 100 | 100 | 100 | 100
Ordinary A shares of £1 | 25 | 25 | 25 | 25
Ordinary B shares of £1 | 3,402 | 3,402 | 3,402 | 3,402
| 3,527 | 3,527 | 3,527 | 3,527

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

9 | Related party transactions

Summary of transactions with entities under common control

During the year the company entered into various transactions with entities under common control. Transactions entered into, and trading balances outstanding at the year end, are as shown below. Outstanding balances with entities are unsecured, interest bearing and cash settled.

Loans to related parties

2025 | Entities under common control £
At start of period | 59,256
Advanced | 1,917,321
Repaid | (1,924,377)
At end of period | 52,200

2024 | Entities under common control £
At start of period | 10,800
Advanced | 60,436
Repaid | (11,980)
At end of period | 59,256

Terms of loans to related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amount are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

Loans from related parties

2025 | Entities under common control £
At start and end of period | 1,547,886
Advanced | 213,236
Repaid | (32,351)
At end of period | 1,728,771

2024 | Entities under common control £
At start of period | 945,310
Advanced | 1,112,576
Repaid | (510,000)
At end of period | 1,547,886

Terms of loans from related parties

The loans have a 366 day notice period for repayment. Interest is charged on these balances and the amount are presented in other creditors falling due after more than one year and other debtors receivable after more than one year.

Income and receivables from related parties

2025 | Entities under common control £
Receipt of services | 575,981

2024 | Entities under common control £
Receipt of services | 308,880

Transactions with directors
During the year, the company received £13,937 in revenue from a director for services charged at the standard day rate. At the year end, the full amount of £13,937 remained outstanding from the director.

C E Aviation UK Limited

Notes to the Financial Statements

Year Ended 30 September 2025

10 | Parent and ultimate parent undertaking

The company's immediate parent is Serendip Investment Holdings (Jersey) Limited, incorporated in Jersey.
The ultimate controlling party is Thayan Family Office Limited.

11 | Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was James Barrett, who signed for and on behalf of PKF Francis Clark on 2 June 2026.