CHC SCOTIA LIMITED

Company number

00936569

Status

Active

Incorporation

1968-08-02

Last accounts made up

2024-04-30

Account category

FULL

Primary SIC

51102

Hubs

UK Logistics & Mobility

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on the going concern basis which the directors believe to be appropriate for the following reasons. The loss for the year to 30 April 2024 was £16.6m (2023: loss of £4.8m) and the company had net liabilities of £102.0m (2023: £79.6m). At the year end, the company had cash at bank of £0.9m and at March 2025 held cash of £0.1m. The company is financed through a combination of intercompany loans and intercompany trading balances, all currently repayable on demand. The directors have prepared cash flow forecasts for a period of twelve months from the date of approval of these financial statements which indicates that, taking account of reasonably possible downsides. The base scenario uses the latest prices on all existing contracts and expected rates on all new contracts, following a pricing review conducted in the year. The directors have considered a severe but plausible downside scenario which includes a possible decline in revenue and increased pension contributions, considering that additional funding may be requested by the regulator. These forecasts indicate that, in both the base and downside scenario, the company will rely on the continuation of existing financial support from CHC Group LLC, and will require additional funding in the form of higher levels of trading intercompany balances, during the forecasted period. The company's cash flow forecasts are therefore dependent on CHC Group LLC providing additional financial support during that period and not seeking repayment of amounts currently owed by the company to group companies, which at 30 April 2024 totalled £138.3m. The company may require further additional funding if the cash flow forecasts are not achieved. CHC Group LLC has indicated its intention to continue to make available such funds as are needed by the company and not to seek repayment of amounts due by the company over the period covered by the forecasts.”

Significant events

• “There has been no substantial events of note since the close of financial year 2024.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers