Registration number:
AER MAVEN Limited
for the Year Ended 30 April 2026
AER MAVEN Limited
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
AER MAVEN Limited
Company Information
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Directors |
Mr G M Stevenson Mr M G Kearns Mr I R Burgess |
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Registered office |
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Accountants |
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AER MAVEN Limited
(Registration number: 08083529)
Abridged Balance Sheet as at 30 April 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Retained earnings |
2,841,163 |
3,369,326 |
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Shareholders' funds |
2,841,166 |
3,369,329 |
For the financial year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
AER MAVEN Limited
(Registration number: 08083529)
Abridged Balance Sheet as at 30 April 2026
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AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged 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.
Summary of disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The requirements of Section 11 Financial Instruments paragraphs 11.42,11.44, to 11.45,11.47,11.48 (a)(iii),11.48 (a)(iv), 11.48 (b) and 11.48 (c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29 (a), 12.29 (b) and 12.29 A.
Going concern
The financial statements have been prepared on a going concern basis.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Contract revenue recognition
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.
Finance income and costs policy
Interest Income
Interest income is recognised in the profit or loss using the effective interest method.
Finance costs
Finance costs are charged to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amounts. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Foreign currency transactions and balances
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.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Tax
Tax is recognised in the 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 balance sheet date in the countries where the Company operates and generates income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% straight line |
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Motor vehicles |
25% straight line |
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Fixtures and fittings |
15% straight line |
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Office equipment |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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. The assets of the plan are held separately from the Company in independently administered funds.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Financial instruments
Classification
Recognition and measurement
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Impairment
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
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Cost or valuation |
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At 1 May 2025 |
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Additions |
- |
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Disposals |
- |
- |
- |
- |
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At 30 April 2026 |
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Depreciation |
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At 1 May 2025 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
- |
- |
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At 30 April 2026 |
- |
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Carrying amount |
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At 30 April 2026 |
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At 30 April 2025 |
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Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2025 |
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Additions |
- |
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Disposals |
( |
( |
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At 30 April 2026 |
- |
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Depreciation |
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At 1 May 2025 |
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Charge for the year |
- |
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Eliminated on disposal |
( |
( |
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At 30 April 2026 |
- |
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Carrying amount |
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At 30 April 2026 |
- |
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At 30 April 2025 |
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Included within the net book value of land and buildings above is £1,192,049 (2025 - £1,192,049) in respect of freehold land and buildings.
AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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Stocks |
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2026 |
2025 |
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Other inventories |
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Debtors |
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Current |
2026 |
2025 |
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Trade debtors |
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Prepayments & Accrued Income |
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Other debtors |
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AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Non-current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2026 |
2025 |
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No. |
£ |
No. |
£ |
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3 |
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3 |
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Dividends |
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2026 |
2025 |
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£ |
£ |
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Final dividend of £Nil (2025 - £ |
- |
20,000 |
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Interim dividend of £Nil (2025 - £ |
- |
105,000 |
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- |
125,000 |
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AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2026 |
2025 |
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Not later than one year |
- |
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The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2025 - £
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Related party transactions |
Summary of transactions with parent
Summary of transactions with all entities with joint control or significant interest
Income and receivables from related parties
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2026 |
Parent |
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2025 |
Entities with joint control or significant influence |
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Sale of goods |
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AER MAVEN Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2026
Expenditure with and payables to related parties
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2026 |
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2025 |
Parent |
Entities with joint control or significant influence |
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Purchase of goods |
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Amounts payable to related party |
- |
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Loans from related parties
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2026 |
Parent |
Total |
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At start of period |
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At end of period |
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2025 |
Parent |
Total |
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At start of period |
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Advanced |
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At end of period |
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Controlling Party
The ultimate parent company is MI Aviation Holdings Limited. M Kearns and I Burgess were the ultimate controlling parties.
Post year end shares held by MI Aviation Holdings will be transferred to Aer Maven Holdings Limited, incorporated on the 16th October 2025, with M Kearns and I Burgess as ultimate controlling parties.