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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Cross Aviation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dene Park, Dene Park Industrial Estate, Statford Road, Wellesbourne, Warwickshire, England, CV35 9RY.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from the provision of the hire and lease of an aircraft is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably.

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.

Any purchase or disposal of aircraft is dealt with and disclosed in the financial statements in the year in which ownership passes. Where the company has entered into a purchase or sale agreement prior to the year end, disclosure is made at a time where the directors consider that there is no detriment to the commerciality or competitiveness of the company.

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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

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.

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 annual depreciation charge for tangible assets is sensitive to changes to the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the aircraft and fixtures and fittings, and note 1.3 for the useful economic lives for each class of assets.

The going concern assessment is based on management’s judgement regarding the organisation’s ability to continue operating for at least 12 months from the reporting date. This involves forecasting future cash flows, considering expected revenue streams, cost trends, and financing arrangements. Assumptions include the stability of market demand, the availability of credit facilities including an assessment of the continued support from both parent and group entities and the company bankers, and the absence of significant adverse events. Estimates are derived from historical performance, current economic conditions, and known contractual commitments, with sensitivity analysis applied to assess the impact of potential changes in these factors.

The overall exceptional gain of £964,996 reported within the year ended 31 January 2026 represents the following:

• An exceptional gain of £1,524,166 in relation to the disposal of an aircraft;

• An exceptional loss of £349,649 in relation to exchange in relation to various transactions in relation to the acquisition of a new aircraft; and

• An exceptional loss of £209,521 in relation to the exchange of the Euro bank account translated at the prevalent closing rate.

The exceptional gain of £98,977 reported within the year ended 31 January 2025 represents the exchange of the Euro bank account translated at the prevalent closing rate.

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

No remuneration was paid to the directors.

Cross Aviation Limited is indebted to the Allied Irish Bank who hold a composite guarantee and indemnity across the group. Allied Irish Bank also holds a letter of set off in respect of the group.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its 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.

Included within trade debtors as at 31 January 2026 are balances totalling £1,064,945 (2025: £586,548) in relation to amounts due from related parties due to common control.

Included within other debtors as at 31 January 2026 is an accrued balance of £79,996 (2025: £5,220) in respect of related parties through common control.

Included within trade creditors as at 31 January 2026 are balances totalling £56,781 (2025: £431,774) in relation to amounts due from related parties due to common control and directorship.

Included in other creditors due within one year is an accrued balance of £455,070 (2025: £nil) in respect of a related party through common directorship.

Included in other creditors due within one year is a balance of £nil (2025: £2,856,894) owed to a related party through common control. This loan is unsecured, interest free and payable on demand.

At 31 January 2026 a loan balance of £1,251,955 (2025: £6,069,047) was owed to Surfreset Limited the immediate 100% parent company of Cross Aviation Limited. This is shown in other creditors due after more than one year. This loan is unsecured, interest free and will not be called within the next 52 weeks.

Allied Irish Bank plc has a lien/letter of set off in place giving them the entitlement to combine or consolidate all or any accounts to settle liabilities due to their satisfaction. This letter of set off applies to subsidiary, holding, a subsidiary of a holding or an associated company.

Surfreset Limited, an English registered company whose registered office is Dene Park Stratford Road, Wellesbourne, Warwick, Warwickshire, CV35 9RN, is the immediate 100% parent company of Cross Aviation Limited.

Alcare One, an Isle of Man registered Unlimited Company, whose registered office is 33-37 Athol Street ,Douglas, Isle of Man, IM1 1LB, is considered to be the ultimate parent company.

The ultimate controlling party is considered to be Donal Ring, sole director of Alcare One.

Despite the company being in a significant net current liabilities position as at 31 January 2026, the directors are confident that the going concern basis is appropriate, given the continued support from its bankers and its parent company Surfreset Limited. On this basis, the directors consider it appropriate to prepare the Financial Statements on a going concern basis. The financial statements do not include any adjustments that would be necessary if this basis was inappropriate.

The directors, on behalf of the company, have entered into a Limited Liability Agreement with their auditors dated 2 September 2026. The auditors liability is limited to an amount which is considered fair and reasonable. This has been disclosed in line with company legislation.