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Company registration number: 10936437
Electric Aviation Group Ltd
Unaudited filleted financial statements
31 August 2025
Electric Aviation Group Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Electric Aviation Group Ltd
Year ended 31 August 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Electric Aviation Group Ltd for the year ended 31 August 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Electric Aviation Group Ltd, as a body, in accordance with the terms of our engagement letter dated 28 August 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Electric Aviation Group Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Electric Aviation Group Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Electric Aviation Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Electric Aviation Group Ltd. You consider that Electric Aviation Group Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Electric Aviation Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Clenshaw Minns Ltd
Chartered Accountants
24 Market Place
Swaffham
Norfolk
PE37 7QH
9 September 2026
Electric Aviation Group Ltd
Statement of financial position
31 August 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 5 | 171,816 |  |  |  | 182,676 |  |
Tangible assets |  | 6 | 3,833 |  |  |  | 4,791 |  |
Investments |  | 7 | 3 |  |  |  | 3 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 175,652 |  |  |  | 187,470
Current assets |  |  |  |  |  |  |  |  |
Debtors |  | 8 | 915 |  |  |  | 5,626 |  |
Cash at bank and in hand |  |  | 9 |  |  |  | 9 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 924 |  |  |  | 5,635 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 9 | ( 228,342) |  |  |  | ( 144,151) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current liabilities |  |  |  |  | ( 227,418) |  |  |  | ( 138,516)
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | ( 51,766) |  |  |  | 48,954
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 10 |  |  | ( 94,103) |  |  |  | ( 102,023)
|  |  |  |  | _______ |  |  |  | _______
Net liabilities |  |  |  |  | ( 145,869) |  |  |  | ( 53,069)
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 132 |  |  |  | 133
Share premium account |  |  |  |  | 527,979 |  |  |  | 527,979
Profit and loss account |  |  |  |  | ( 673,980) |  |  |  | ( 581,181)
|  |  |  |  | _______ |  |  |  | _______
Shareholders deficit |  |  |  |  | ( 145,869) |  |  |  | ( 53,069)
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 September 2026 , and are signed on behalf of the board by:
Mr Kamran Iqbal
Director
Company registration number: 10936437
Electric Aviation Group Ltd
Notes to the financial statements
Year ended 31 August 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Market Place, Swaffham, Norfolk, PE37 7QH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).
The aggregate payroll costs incurred during the year were:

|  |  | 2025 | 2024
|  |  | £ | £
| Wages and salaries |  | 93,500 | 77,415
| Social security costs |  | 2,218 | 1,253
| Other pension costs |  | 914 | 1,070
|  |  | _______ | _______
|  |  | 96,632 | 79,738
|  |  | _______ | _______

5. Intangible assets

|  | Other intangible assets | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 September 2024 and 31 August 2025 | 218,315 | 218,315 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 September 2024 | 35,540 | 35,540 |  |  |  |
| Charge for the year | 10,959 | 10,959 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 August 2025 | 46,499 | 46,499 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 August 2025 | 171,816 | 171,816 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 August 2024 | 182,775 | 182,775 |  |  |  |
|  | _______ | _______ |  |  |  |

6. Tangible assets

|  | Fixtures, fittings and equipment | Total |  |  |  |  |
|  | £ | £ |  |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 September 2024 and 31 August 2025 | 8,147 | 8,147 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 September 2024 | 3,356 | 3,356 |  |  |  |  |
| Charge for the year | 958 | 958 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 August 2025 | 4,314 | 4,314 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 August 2025 | 3,833 | 3,833 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |
| At 31 August 2024 | 4,791 | 4,791 |  |  |  |  |
|  | _______ | _______ |  |  |  |  |

7. Investments

|  | Shares in group undertakings and participating interests | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 September 2024 and 31 August 2025 | 3 | 3 |  |  |  |
|  | _______ | _______ |  |  |  |
| Impairment |  |  |  |  |  |
| At 1 September 2024 and 31 August 2025 | - | - |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 August 2025 | 3 | 3 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 August 2024 | 3 | 3 |  |  |  |
|  | _______ | _______ |  |  |  |

8. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Other debtors |  | 915 | 5,626
|  |  | _______ | _______

9. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | 44,835 | 42,557
| Trade creditors |  | 948 | 959
| Social security and other taxes |  | 49,862 | 19,309
| Other creditors |  | 132,697 | 81,326
|  |  | _______ | _______
|  |  | 228,342 | 144,151
|  |  | _______ | _______

10. Creditors: amounts falling due after more than one year

|  |  | 2025 | 2024
|  |  | £ | £
| Bank loans and overdrafts |  | - | 7,920
| Other creditors |  | 94,103 | 94,103
|  |  | _______ | _______
|  |  | 94,103 | 102,023
|  |  | _______ | _______