ACCOUNTS - Final Accounts

Registered number: 14673897

PELORUS AVIATION LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

PELORUS AVIATION LIMITED

REGISTERED NUMBER: 14673897

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	67,412		482,274
Cash at bank and in hand	5	169,345		23,508
		236,757		505,782
Creditors: amounts falling due within one year	6	(253,961)		(579,011)
Net current liabilities			(17,204)		(73,229)
Total assets less current liabilities			(17,204)		(73,229)

Net liabilities			(17,204)		(73,229)

Capital and reserves
Called up share capital	1	1
Profit and loss account	(17,205)	(73,230)
	(17,204)	(73,229)

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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 30 June 2026.

Mr G Mackay-Lewis

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

PELORUS AVIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Pelorus Aviation Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 126 New Kings Road, London, SW6 4LZ. The principal activity of the Company is the provision of private aviation services, including on-demand aircraft and helicopter charter, and bespoke luxury travel experiences.

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 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.

The following principal accounting policies have been applied:

2.2

Going concern

The director considers that the company has sufficient liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its director, shareholder and creditors. Accordingly the director considers that it is appropriate to prepare the accounts on a going concern basis.

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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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PELORUS AVIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

2.5

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.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

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PELORUS AVIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Employees

The Company has no employees. All staff costs are recharged by the parent company at cost plus a mark-up. The total recharged during the year was £99,472 (2024: £64,103).

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

	31 December	10 months period to 31 December
	2025	2024
	No.	No.

Admin	1	1

Debtors

					2025	2024
					£	£


Trade debtors	14,252	-
Amounts owed by group undertakings	-	10,976
Other debtors	48,451	88
Advance payments to suppliers	4,709	471,210
	67,412	482,274

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	169,345	23,508
	169,345	23,508

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PELORUS AVIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

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

Payments received on account	25,358	500,955
Trade creditors	31,598	-
Amounts owed to group undertakings	161,917	76,556
Other creditors	35,088	1,500
	253,961	579,011

7.	Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.

8.	Post balance sheet events

There have been no significant events affecting the Company since the year end.

9.	Holding company

The Company's immediate holding company is Pelorusx Limited, a company registered in England and Wales. Copies of the financial statements of Pelorusx Limited can be obtained from 126 New Kings Road, London, England, SW6 4LZ.

10.	Controlling party

The ultimate controlling party is Mr. G Mackay-Lewis, due to his majority shareholding in the immediate holding company, Pelorusx Limited.

11.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 30 June 2026 by Ms Nicola A Spoor FCA FCCA (Senior Statutory Auditor) on behalf of White Hart Associates (London) Limited.

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