REGISTERED NUMBER: 02724904 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2025

for

Swift Aerospace Services Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

D S Goode

P Sanders

Ms J L Smith

REGISTERED OFFICE:

10-11 Charterhouse Square

London

EC1M 6E

REGISTERED NUMBER:

02724904 (England and Wales)

AUDITORS:

Aspen Waite Chartered Certified Accountants

Rubis House

15 Friarn Street

Somerset

TA6 3LH

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

ON BEHALF OF THE BOARD:

P Sanders - Director

4 August 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

D S Goode , P Sanders and Ms J L Smith were appointed as directors after 30 June 2025 but prior to the date of this report.

R Gerber and B C Stephens ceased to be directors after 30 June 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Aspen Waite Chartered Certified Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Sanders - Director

4 August 2026

Opinion

We have audited the financial statements of Swift Aerospace Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to employment laws and indirect taxes and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to achieve desired financial results and management bias in accounting estimates. Audit procedures performed by the engagement team included, but were not limited to:

-- enquiries with management including consideration of known or suspected instances of fraud and non-compliance with laws and regulations;

-- reading key correspondence with regulatory authorities;

-- understanding and evaluating the design and implementation of management's controls designed to prevent and detect irregularities;

-- challenging assumptions and judgements made by management in their significant accounting estimates;

-- identifying and testing journal entries;

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.

Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

P Waite (Senior Statutory Auditor)

for and on behalf of Aspen Waite Chartered Certified Accountants

Rubis House

15 Friarn Street

Somerset

TA6 3LH

4 August 2026

TURNOVER

17,687,789

13,851,983

Cost of sales

11,537,383

10,010,378

GROSS PROFIT

6,150,406

3,841,605

Administrative expenses

3,445,456

2,574,494

2,704,950

1,267,111

Other operating income

-

2,459

OPERATING PROFIT

4

2,704,950

1,269,570

Interest receivable and similar income

123

317

2,705,073

1,269,887

Interest payable and similar expenses

5

141,176

144,902

PROFIT BEFORE TAXATION

2,563,897

1,124,985

Tax on profit

6

688,795

242,209

PROFIT FOR THE FINANCIAL YEAR

1,875,102

882,776

Profit attributable to:

Owners of the parent

1,875,102

882,776

PROFIT FOR THE YEAR

1,875,102

882,776

OTHER COMPREHENSIVE INCOME

Foreign exchange

59,027

1,936

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

59,027

1,936

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,934,129

884,712

Total comprehensive income attributable to:

Owners of the parent

1,934,129

884,712

FIXED ASSETS

Tangible assets

8

125,559

118,862

Investments

9

-

-

125,559

118,862

CURRENT ASSETS

Stocks

10

8,980,887

7,139,740

Debtors

11

4,045,487

3,516,707

Cash in hand

-

2

13,026,374

10,656,449

CREDITORS

Amounts falling due within one year

12

4,327,237

3,884,973

NET CURRENT ASSETS

8,699,137

6,771,476

TOTAL ASSETS LESS CURRENT LIABILITIES

8,824,696

6,890,338

PROVISIONS FOR LIABILITIES

15

13,457

13,228

NET ASSETS

8,811,239

6,877,110

CAPITAL AND RESERVES

Called up share capital

16

10,000

10,000

Other reserves

17

111,128

52,101

Retained earnings

17

8,690,111

6,815,009

SHAREHOLDERS' FUNDS

8,811,239

6,877,110

The financial statements were approved by the Board of Directors and authorised for issue on 4 August 2026 and were signed on its behalf by:

P Sanders - Director

FIXED ASSETS

Tangible assets

8

54,984

44,991

Investments

9

28,260

28,260

83,244

73,251

CURRENT ASSETS

Stocks

10

5,465,906

5,069,084

Debtors

11

6,196,370

5,216,322

Cash in hand

-

2

11,662,276

10,285,408

CREDITORS

Amounts falling due within one year

12

3,893,944

3,881,898

NET CURRENT ASSETS

7,768,332

6,403,510

TOTAL ASSETS LESS CURRENT LIABILITIES

7,851,576

6,476,761

PROVISIONS FOR LIABILITIES

15

13,457

10,895

NET ASSETS

7,838,119

6,465,866

CAPITAL AND RESERVES

Called up share capital

16

10,000

10,000

Retained earnings

17

7,828,119

6,455,866

SHAREHOLDERS' FUNDS

7,838,119

6,465,866

Company's profit for the financial year

1,372,253

435,045

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

P Sanders - Director

Called up

share

Retained

Other

Total

capital

earnings

reserves

equity

£

£

£

£

Balance at 1 July 2023

10,000

5,932,233

50,165

5,992,398

Changes in equity

Total comprehensive income

-

882,776

1,936

884,712

Balance at 30 June 2024

10,000

6,815,009

52,101

6,877,110

Changes in equity

Total comprehensive income

-

1,875,102

59,027

1,934,129

Balance at 30 June 2025

10,000

8,690,111

111,128

8,811,239

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2023

10,000

6,020,821

6,030,821

Changes in equity

Total comprehensive income

-

435,045

435,045

Balance at 30 June 2024

10,000

6,455,866

6,465,866

Changes in equity

Total comprehensive income

-

1,372,253

1,372,253

Balance at 30 June 2025

10,000

7,828,119

7,838,119

Cash flows from operating activities

Cash generated from operations

1

466,833

(126,083

)

Interest paid

(141,176

)

(144,902

)

Finance costs paid

(16,786

)

333,004

Tax paid

(271,387

)

(244,426

)

Net cash from operating activities

37,484

(182,407

)

Cash flows from investing activities

Purchase of tangible fixed assets

(58,828

)

(85,106

)

Sale of tangible fixed assets

(1,480

)

3,186

Interest received

123

317

Net cash from investing activities

(60,185

)

(81,603

)

Cash flows from financing activities

Amount withdrawn by directors

(50,000

)

(200,000

)

Net cash from financing activities

(50,000

)

(200,000

)

Decrease in cash and cash equivalents

(72,701

)

(464,010

)

Cash and cash equivalents at beginning of year

2

(723,729

)

(259,719

)

Cash and cash equivalents at end of year

2

(796,430

)

(723,729

)

1.	Reconciliation of profit before taxation to cash generated from operations

30/6/25

30/6/24

£

£

Profit before taxation

2,563,897

1,124,985

Depreciation charges

53,609

36,672

Profit on disposal of fixed assets

-

(3,139

)

Foreign exchange

59,029

1,936

Deferred tax

(2,332

)

747

Finance costs

141,176

144,902

Finance income

(123

)

(317

)

2,815,256

1,305,786

Increase in stocks

(1,841,147

)

(1,023,638

)

Increase in trade and other debtors

(492,742

)

(1,294,156

)

(Decrease)/increase in trade and other creditors

(14,534

)

885,925

Cash generated from operations

466,833

(126,083

)

2.	Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2025

30/6/25

1/7/24

£

£

Cash and cash equivalents

-

2

Bank overdrafts

(796,430

)

(723,731

)

(796,430

)

(723,729

)

Year ended 30 June 2024

30/6/24

1/7/23

£

£

Cash and cash equivalents

2

2

Bank overdrafts

(723,731

)

(259,721

)

(723,729

)

(259,719

)

3.	Analysis of changes in net debt

At 1/7/24

Cash flow

At 30/6/25

£

£

£

Net cash

Cash at bank and in hand

2

(2

)

-

Bank overdrafts

(723,731

)

(72,699

)

(796,430

)

(723,729

)

(72,701

)

(796,430

)

Total

(723,729

)

(72,701

)

(796,430

)

1.	Statutory information

Swift Aerospace Services Limited 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Long leasehold

-

on cost over the term of the lease

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

30/6/25

30/6/24

£

£

Wages and salaries

1,775,035

1,435,561

Social security costs

242,922

184,543

Other pension costs

60,246

53,540

2,078,203

1,673,644

The average number of employees during the year was as follows:

30/6/25

30/6/24

Staff

47

41

The average number of employees by undertakings that were proportionately consolidated during the year was 16 (2024 - 12 ) .

30/6/25

30/6/24

£

£

Directors' remuneration

108,617

104,293

Directors' pension contributions to money purchase schemes

583

6,655

4.	Operating profit

The operating profit is stated after charging/(crediting):

30/6/25

30/6/24

£

£

Depreciation - owned assets

53,611

36,672

Profit on disposal of fixed assets

-

(3,139

)

Auditing of accounts

14,374

7,294

Foreign exchange differences

175,049

117,092

5.

Interest payable and similar expenses

30/6/25

30/6/24

£

£

Bank interest

89,476

92,933

Other interest

51,700

51,969

141,176

144,902

6.

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

30/6/25

30/6/24

£

£

Current tax:

UK corporation tax

686,234

238,242

Deferred tax

2,561

3,967

Tax on profit

688,795

242,209

Tax effects relating to effects of other comprehensive

income

30/6/25

Gross

Tax

Net

£

£

£

Foreign exchange

59,027

-

59,027

30/6/24

Gross

Tax

Net

£

£

£

Foreign exchange

1,936

-

1,936