Elev8 Aviation Limited - Filleted accounts

Registered number

05377032

Elev8 Aviation Limited

Unaudited Filleted Accounts

28 February 2026

Elev8 Aviation Limited
Registered number:		05377032
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		28,135			1,957

Current assets
Work in progress		123,038			132,322
Debtors	4	85,473			102,980
Cash at bank and in hand		114,271			200,310
		322,782			435,612

Creditors: amounts falling due within one year	5	(186,305)			(218,150)

Net current assets			136,477			217,462

Total assets less current liabilities			164,612			219,419

Creditors: amounts falling due after more than one year	6		(18,510)			(95,537)

Provisions for liabilities			(1,885)			(489)


Net assets			144,217			123,393

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			143,217			122,393

Shareholder's funds			144,217			123,393

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr M Wilson
Director
Approved by the board on 10 December 2026

Elev8 Aviation Limited
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, or on a reducing balance basis as follows:

	Plant and machinery	15% reducing balance
	Computer equipment	over 3 years
	Motor vehicles	over 5 years
	Office equipment	over 5 years

	Work in Progress
	Work in progress represents the value of services performed for clients which had not been invoiced at the reporting date. It is recognised by reference to the stage of completion of each contract, on the basis set out in the turnover policy above, and is measured at the fair value of the consideration receivable, net of value added tax. Provision is made where amounts are not expected to be recovered.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 March 2025	15,880		-		15,880
	Additions	2,016		25,118		27,134
	At 28 February 2026	17,896		25,118		43,014

	Depreciation
	At 1 March 2025	13,923		-		13,923
	Charge for the year	956		-		956
	At 28 February 2026	14,879		-		14,879

	Net book value
	At 28 February 2026	3,017		25,118		28,135
	At 28 February 2025	1,957		-		1,957


4	Debtors			2026		2025
£					£

	Trade debtors			83,971		101,226
	Other debtors			1,502		1,754
				85,473		102,980


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			1,995		19,841
	Taxation and social security costs			144,098		158,097
	Other creditors			40,212		40,212
				186,305		218,150


6	Creditors: amounts falling due after one year			2026		2025
£					£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest			18,510		95,537


7	Related party transactions

	The Directors are also Directors and shareholders of Merlin Capital Holdings Ltd who own 100% of the share capital. Included within Creditors falling due after one year is a balance of £18,510.15 relating to a loan received from Merlin Capital Holdings Ltd which is the parent company. (2025-£95,536.93) The loan is unsecured and interest free.


8	Controlling party

	The company is controlled by Merlin Capital Holdings Ltd who own 100% of the share capital. The ultimate controlling party is Mr and Ms Wilson.


9	Other information

	Elev8 Aviation Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	24 Brookside Business Park
	Stone
	Staffordshire
	ST15 0RZ