The directors present their annual report and financial statements for the year ended 31 December 2025.

The principal activity of the company is the handling of passengers and aircrafts at Chester Airport and the provision of hangar space, fuel and storage facilities for aircraft.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

As referred to in note 1.2, the directors have reviewed financial budgets and forecasts prepared by management and obtained written confirmation of continuing support from related party creditors when assessing the going concern position of the company. The directors have a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future, for a period of at least twelve months from the date of signing these financial statements. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aviation Park Group Limited for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Aviation Park Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Aviation Park Group Limited and state those matters that we have agreed to state to the board of directors of Aviation Park Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aviation Park Group Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Aviation Park Group Limited 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 profit of Aviation Park Group Limited. You consider that Aviation Park Group Limited 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 Aviation Park Group Limited. 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.

There are no recognised gains and losses other than those passing through the profit and loss account.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Aviation Park Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, Aviation Park, Flint Road, Saltney Ferry, Chester, Flintshire, CH4 0GZ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The company generated profits in both the current and prior financial periods. At the balance sheet date, the company had net current liabilities of £3,8true25,137 (2024: £3,904,986). Notwithstanding this position, the company remained in a net asset position of £5,836,721 (2024: £5,543,589).

Included in creditors due within one year are amounts due to its subsidiary undertaking, CCB Trading Group Limited, totalling £3,581,104 whom written confirmation has been received which stipulates that this amount owed will not be called until such time that the company has settled other third party liabilities.

As explained in the Directors Report, when assessing the going concern position of the company, the directors have reviewed financial budgets and forecasts prepared by management, these forecasts taking account of the aforementioned agreements for capital repayments of bank loans whilst having the continuing support of its subsidiary undertaking, and the directors consider that the company will continue to be able to meet its liabilities as they fall due for a period of at least 12 months from the date of signing these accounts and therefore the directors have prepared these financial statements on a going concern basis.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured.

Revenue comprises rents receivable, hangarage income, fuel sales, landing fees and other associated service charges.

Turnover on rental contracts is recognised on a straight line basis over the period of the rental agreement. Turnover from a contract to provide services is recognised with reference to stage of completion. The profit included is calculated on a reasonable and consistent basis to reflect the proportion of work carried out at the year end.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

New or revised standards

Amendments to FRS 102 issued in September 2024 will apply to the company for accounting periods commencing on or after 1 January 2026. These amendments include significant changes to lease accounting, together with additional disclosure requirements. The directors are currently assessing the impact of these amendments on the company’s future financial statements.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The valuation of investment property is considered a key source of estimation uncertainty. The carrying value of investment property is dependent upon market-based valuations and the directors' assessment of fair value at the reporting date. The directors have considered independent property valuations obtained during previous year and prevailing market conditions when determining the year end carrying values. Changes in assumptions relating to market yields, estimated rental values, occupancy levels and comparable market evidence could result in a material adjustment to the carrying value of investment properties in future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

Investment property was valued at fair value as at 31 December 2025 by the directors, based on a valuation carried out in previous years by Avison Young. The valuation reflected market value, taking into account prevailing market conditions. The directors confirm that there have been no change in the valuation of the investment property as at 31 December 2025.

Secured loans

The bank loans are secured by way of a debenture dated 2 March 2007, a first legal charge over the investment property at International House, Saltney Ferry, Chester and an inter-company cross guarantee between Aviation Park Group Limited and CCB Trading Group Limited, Chester Airport Limited, NSS Special Access (UK) Limited, Spacerepair Limited and CCB Property Partnership LLP.

The bank loan was fully repaid during the year.

The merger reserve arose upon a restructuring of the group on 31 December 2010 when there were share for share exchanges in two other entities (Hawarden Air Services and CCB Trading Group Limited).

An intercompany cross guarantee exists between Chester Airport Limited and Aviation Park Group Limited, NSS Special Access (UK) Limited, CCB Property Partnership LLP, Spacerepair Limited and CCB Trading Group Limited.

Amounts contracted for but not provided in the financial statements:

Aviation Park Group Limited owns 100% of the issued share capital of CCB Trading Group Limited. CCB Trading Group Limited in turn owns 100% of the share capital of Chester Airport Limited. The company has taken advantage of the exemptions available under FRS102 paragraph 33 not to disclose transactions and balances with wholly owned companies within the group.

C C Butt and CCB Trading Group Limited are the designated members of CCB Property Partnership LLP. The company invoiced sales and recharges of £232,974 (2024: £208,094) to and made purchases of £8,450 (2024: £nil) from the LLP. Amounts owed to this LLP at the balance sheet date totalled £26,102 (2024: £nil) and amounts owed by this LLP totalled £56,791 (2024: £355,996)

C C Butt owns 100% of the share capital of Spacerepair Limited. The company invoiced sales and recharges of £33 (2024: £474) to Spacerepair Limited during the year. Amounts owed by this company at the balance sheet date totalled £1,958 (2024: £703).

C C Butt owns 100% of the share capital of NSS Special Access (UK) Ltd. The company invoiced sales and recharges of £74,918 (2024: £2,873) to and made purchases of £151 (2024: £nil) from NSS Special Access (UK) Ltd during the year. Amounts owed from this company at the balance sheet date totalled £26,595 (2024: £nil).

C C Butt is a director of Palmers Scaffolding (UK) Limited. The company invoiced sales and recharges of £56,500 (2024: £40,883) and made purchases of £197 (2024: £105) from Palmers Scaffolding (UK) Limited during the year. Amounts owed from this company at the balance sheet date totalled £6,128 (2024: £7,170).

The company is controlled by C C Butt.