Caseware UK (AP4) 2025.0.111 2025.0.111 2025-12-31 2025-12-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.37 33 2025-01-01 false No description of principal activity true true false 01179848 2025-01-01 2025-12-31 01179848 2023-08-01 2024-12-31 01179848 2025-12-31 01179848 2024-12-31 01179848 1 2025-01-01 2025-12-31 01179848 d:Director1 2025-01-01 2025-12-31 01179848 d:Director2 2025-01-01 2025-12-31 01179848 d:RegisteredOffice 2025-01-01 2025-12-31 01179848 c:PlantMachinery 2025-01-01 2025-12-31 01179848 c:PlantMachinery 2025-12-31 01179848 c:PlantMachinery 2024-12-31 01179848 c:PlantMachinery c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:MotorVehicles 2025-01-01 2025-12-31 01179848 c:MotorVehicles 2025-12-31 01179848 c:MotorVehicles 2024-12-31 01179848 c:MotorVehicles c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:OfficeEquipment 2025-01-01 2025-12-31 01179848 c:OfficeEquipment 2025-12-31 01179848 c:OfficeEquipment 2024-12-31 01179848 c:OfficeEquipment c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:ComputerEquipment 2025-01-01 2025-12-31 01179848 c:ComputerEquipment 2025-12-31 01179848 c:ComputerEquipment 2024-12-31 01179848 c:ComputerEquipment c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:OtherPropertyPlantEquipment 2025-01-01 2025-12-31 01179848 c:OtherPropertyPlantEquipment 2025-12-31 01179848 c:OtherPropertyPlantEquipment 2024-12-31 01179848 c:OtherPropertyPlantEquipment c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:OwnedOrFreeholdAssets 2025-01-01 2025-12-31 01179848 c:CurrentFinancialInstruments 2025-12-31 01179848 c:CurrentFinancialInstruments 2024-12-31 01179848 c:Non-currentFinancialInstruments 2025-12-31 01179848 c:Non-currentFinancialInstruments 2024-12-31 01179848 c:CurrentFinancialInstruments c:WithinOneYear 2025-12-31 01179848 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 01179848 c:Non-currentFinancialInstruments c:AfterOneYear 2025-12-31 01179848 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 01179848 c:ShareCapital 2025-12-31 01179848 c:ShareCapital 2024-12-31 01179848 c:RetainedEarningsAccumulatedLosses 2025-12-31 01179848 c:RetainedEarningsAccumulatedLosses 2024-12-31 01179848 d:FRS102 2025-01-01 2025-12-31 01179848 d:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 01179848 d:FullAccounts 2025-01-01 2025-12-31 01179848 d:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 01179848 e:PoundSterling 2025-01-01 2025-12-31 iso4217:GBP xbrli:pure

Registered number: 01179848
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE PERIOD ENDED 31 DECEMBER 2025
| SPECIALIST AVIATION MANUFACTURING LIMITED
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
COMPANY INFORMATION
Directors | N J Cole
| D E Spencer
Registered number | 01179848
Registered office | Jubilee House
| Jubilee Road
| Letchworth Garden City
| SG6 1WU
Accountants | Menzies LLP
| Chartered Accountants
| Richmond House
| Walkern Road
| Stevenage
| Herts
| SG1 3QP
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 8
SPECIALIST AVIATION MANUFACTURING LIMITED REGISTERED NUMBER:01179848 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 388,006 |  | 494,577
|  |  | 388,006 |  | 494,577
Current assets |  |  |  |  |
Stocks |  | 584,285 |  | 497,497 |
Debtors: amounts falling due within one year | 5 | 1,236,881 |  | 540,371 |
Cash at bank and in hand |  | 156,229 |  | 94,254 |
|  | 1,977,395 |  | 1,132,122 |
Creditors: amounts falling due within one year | 6 | (1,259,098) |  | (788,533) |
Net current assets |  |  | 718,297 |  | 343,589
Total assets less current liabilities |  |  | 1,106,303 |  | 838,166
Creditors: amounts falling due after more than one year | 7 |  | (177,335) |  | (240,379)
Provisions for liabilities |  |  |  |  |
Deferred tax |  | (74,437) |  | (50,366) |
|  |  | (74,437) |  | (50,366)
Net assets |  |  | 854,531 |  | 547,421
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 854,431 |  | 547,321
|  |  | 854,531 |  | 547,421
Page 1
SPECIALIST AVIATION MANUFACTURING LIMITED REGISTERED NUMBER:01179848 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 DECEMBER 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 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 income and retained earnings 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 by:
................................................ D E Spencer
Director
Date: 10 August 2026
The notes on pages 3 to 8 form part of these financial statements. Page 2
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
1. | General information
Specialist Aviation Manufacturing 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 company information page. The presentation currency of the financial statements is the Pound Sterling (£). The prior period covered by the financial statements is the 17 month period from 1 August 2023 to 31 December 2024. The extended period should be taken into account when reviewing the comparative information within the financial statements. 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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Page 3
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.4 | Current and deferred taxation
The tax expense for the Period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 20% | on cost
|  |  |  | Motor vehicles | - | 25% | on cost
|  |  |  | Office equipment | - | 25% | on cost
|  |  |  | Computer equipment | - | 25% | on cost
|  |  |  | Leasehold Improvements | - | 20% | on cost
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 4
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the period was 37 (2024 - 33).
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Office equipment | Computer equipment | Leasehold Imprvments
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 727,621 | 6,000 | 1,310 | 1,505 | 89,196
| Additions | 3,564 | 21,649 | - | 745 | 18,287
| At 31 December 2025 | 731,185 | 27,649 | 1,310 | 2,250 | 107,483
| Depreciation |  |  |  |  |
| At 1 January 2025 | 307,759 | 750 | 164 | 420 | 21,962
| Charge for the period on owned assets | 127,688 | 4,206 | 327 | 408 | 18,187
| At 31 December 2025 | 435,447 | 4,956 | 491 | 828 | 40,149
| Net book value |  |  |  |  |
| At 31 December 2025 | 295,738 | 22,693 | 819 | 1,422 | 67,334
| At 31 December 2024 | 419,862 | 5,250 | 1,146 | 1,085 | 67,234
Page 5
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 4.Tangible fixed assets (continued)
|  | Total
|  | £
| Cost or valuation |
| At 1 January 2025 | 825,632
| Additions | 44,245
| At 31 December 2025 | 869,877
| Depreciation |
| At 1 January 2025 | 331,055
| Charge for the period on owned assets | 150,816
| At 31 December 2025 | 481,871
| Net book value |
| At 31 December 2025 | 388,006
| At 31 December 2024 | 494,577
Page 6
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,147,223 | 497,357
| Other debtors | 6,700 | 6,700
| Prepayments and accrued income | 36,869 | 36,314
| Tax recoverable | 46,089 | -
|  | 1,236,881 | 540,371
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,000 | 5,000
| Trade creditors | 314,539 | 300,198
| Corporation tax | 89,759 | -
| Other taxation and social security | 180,606 | 145,348
| Obligations under finance lease and hire purchase contracts | 67,518 | 88,249
| Other creditors | 241,396 | 241,689
| Accruals and deferred income | 360,280 | 8,049
|  | 1,259,098 | 788,533
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,000 | 5,000
| Obligations under finance lease and hire purchase contracts | 67,518 | 88,249
| Other creditors | 241,359 | 235,666
|  | 313,877 | 328,915
| Details of security provided:
The bank loan and other facilities are secured by a fixed and floating charge over the company's assets. Page 7
SPECIALIST AVIATION MANUFACTURING LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,614 | 14,997
| Obligations under finance lease and hire purchase contracts | 125,735 | 177,396
| Amounts owed to connected undertakings | 24,000 | 24,000
| Other creditors | 23,986 | 23,986
|  | 177,335 | 240,379
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,614 | 14,997
| Obligations under finance lease and hire purchase contracts | 125,735 | 177,396
|  | 129,349 | 192,393
| Details of security provided:
The bank loan and other facilities are secured by a fixed and floating charge over the company's assets.
8. | Related party transactions
| At the balance sheet date the company owed £23,986 (2024: £23,986) to the directors. The balance can be found within creditors. No interest is being charged on this loan. Included within creditors amounts falling due after more than one year is an amount of £24,000 (2024: £24,000) due to a connected undertaking. This amount is free of interest. Included within accruals is an amount of £140,000 (2024: £Nil) payable to a connected undertaking in respect of management fees.
9. | Post balance sheet events
In May 2026, subsequent to the reporting date, a fire occurred at the Company's manufacturing facility in Frome. The fire resulted in the destruction of inventory with an estimated value of approximately £50,000 and damage to plant and machinery with an estimated value of approximately £365,000. The Company has transferred its operations to its Bristol site and trading has continued from that location. The Company has submitted claims to its insurers in respect of property damage and business interruption losses. At the date of approval of these financial statements, the extent and timing of insurance recoveries and any uninsured losses remain uncertain. As the fire occurred after the reporting date and does not provide evidence of conditions existing at that date, no adjustment has been made to these financial statements.
Page 8