Britten-Norman Aerospace Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06401337 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRITTEN-NORMAN AEROSPACE LTD

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

W A Hynett OBE

R A Silk

REGISTERED OFFICE:

Bembridge Airport

Bembridge

PO35 5PR

REGISTERED NUMBER:

06401337 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

5 Argosy Court

Scimitar Way

Whitley Business Park

Coventry

CV3 4GA

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

DIRECTOR

W A Hynett OBE held office during the whole of the period from 1 April 2022 to the date of this report.

Other changes in directors holding office are as follows:

R A Silk was appointed as a director after 31 March 2023 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

W A Hynett OBE - Director

28 March 2024

FIXED ASSETS

Tangible assets

4

41,405

66,955

CURRENT ASSETS

Debtors

5

8,241

831,218

Cash at bank

126

2,872

8,367

834,090

CREDITORS

Amounts falling due within one year

6

528,346

1,301,444

NET CURRENT LIABILITIES

(519,979

)

(467,354

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(478,574

)

(400,399

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(479,574

)

(401,399

)

(478,574

)

(400,399

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 March 2024 and were signed on its behalf by:

W A Hynett OBE - Director

1.	STATUTORY INFORMATION

Britten-Norman Aerospace Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Freehold property

- 2 - 5 year

Plant and machinery

- 5 years

Office equipment

- 3 - 6 years

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2022

and 31 March 2023

3,192

73,737

114,149

191,078

DEPRECIATION

At 1 April 2022

1,613

71,374

51,136

124,123

Charge for year

530

2,363

22,657

25,550

At 31 March 2023

2,143

73,737

73,793

149,673

NET BOOK VALUE

At 31 March 2023

1,049

-

40,356

41,405

At 31 March 2022

1,579

2,363

63,013

66,955

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

524

44,902

Amounts owed by group undertakings

-

786,316

Other debtors

7,717

-

8,241

831,218

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

9,768

9,768

Amounts owed to group undertakings

312,803

1,285,986

Taxation and social security

205,775

5,690

528,346

1,301,444

7.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2022: £Nil). Contributions totalling £Nil (2022: £Nil) were payable to the fund at the reporting date and are included in creditors.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the financial year-end was Mr. A Zawawi by virtue of his shareholding in B-N Group Limited.

The parent undertaking and controlling party of the smallest and largest group undertaking to prepare consolidated accounts, and of which the company is a member, is B-N Group Limited, a company registered in England and Wales. The registered office of the company and the address which the accounts may be obtained from is Bembridge Airport, Bembridge, Isle of Wight, PO35 5PR.

As of 22nd March 2024 Britten-Norman Aerospace Ltd was purchased by Shelton Bidco Limited, a company registered in England and Wales. The registered office of the company, and the address which the accounts may be obtained from is 100 Avebury Boulevard, Milton Keynes, United Kingdom, MK9 1FH. Mr. R A Silk is now the ultimate controlling party by virtue of his shareholding in Shelton Bidco Limited as at the date of signing the accounts.