REGISTERED NUMBER: 13127132 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026

FOR

SEMET AVIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B S Lees

Miss A C McGrady

N J Shaw

REGISTERED OFFICE:

Hartfordbridge Building

Blackbushe Airport

Camberley

GU17 9LB

REGISTERED NUMBER:

13127132 (England and Wales)

ACCOUNTANTS:

L E Marshall & Co

Chartered Accountants

Unit B1F

Fairoaks Airport

Chobham

Surrey

GU24 8HU

FIXED ASSETS

Tangible assets

4

14,520

31,091

CURRENT ASSETS

Stocks

4,668

3,468

Debtors

5

27,053

103,870

Cash at bank and in hand

11,282

29,622

43,003

136,960

CREDITORS

Amounts falling due within one year

6

85,665

231,095

NET CURRENT LIABILITIES

(42,662

)

(94,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,142

)

(63,044

)

CREDITORS

Amounts falling due after more than one year

7

(167

)

(167

)

PROVISIONS FOR LIABILITIES

(2,759

)

(5,907

)

NET LIABILITIES

(31,068

)

(69,118

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(31,071

)

(69,121

)

(31,068

)

(69,118

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

J B S Lees - Director

1.	STATUTORY INFORMATION

Semet Aviation 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on cost

Computer equipment

-

15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 February 2025

38,296

7,853

46,149

Additions

-

472

472

Disposals

(20,686

)

-

(20,686

)

At 31 January 2026

17,610

8,325

25,935

DEPRECIATION

At 1 February 2025

12,659

2,399

15,058

Charge for year

2,364

889

3,253

Eliminated on disposal

(6,896

)

-

(6,896

)

At 31 January 2026

8,127

3,288

11,415

NET BOOK VALUE

At 31 January 2026

9,483

5,037

14,520

At 31 January 2025

25,637

5,454

31,091

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Trade debtors

4,053

27,503

Amounts owed by associates

14,180

11,521

Other debtors

8,820

64,846

27,053

103,870

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.26

31.1.25

£

£

Bank loans and overdrafts

98

-

Hire purchase contracts

-

5,865

Trade creditors

61,364

223,585

Taxation and social security

10,208

1,475

Other creditors

13,995

170

85,665

231,095

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.26

31.1.25

£

£

Other creditors

167

167

8.	RELATED PARTY DISCLOSURES

The directors have undertaken to support the company financially for the foreseeable future.