ONE AIR LTD
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Cash
£3.9m
USD 5,229,638
-44.1% lowest in 3 filed years
Net assets
-£69m
USD -92,084,187
-99.2% lowest in 3 filed years
Employees
121
+19.8% highest in 3 filed years
Profit before tax
-£34m
USD -46,019,909
-49.1% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-09-30.
-
Material uncertainty over going concern
The company continues to make substantial losses and is dependent on the support of its shareholders and related party creditors. Loans amounting to US$55,774,156 due to a group of companies with common directors and shareholders are outstanding as well as trade payables of US$19,694,507.
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £9,277,159 | £70,788,369 | £108,457,552 | +53.2% | |
| Operating profit | -£18,207,826 | -£20,028,134 | -£31,162,546 | -55.6% | |
| Profit before tax | -£2,753,828 | -£22,966,817 | -£34,238,456 | -49.1% | |
| Net profit | -£2,753,828 | -£22,966,817 | -£34,238,456 | -49.1% | |
| Cash | £8,654,987 | £6,956,370 | £3,890,810 | -44.1% | |
| Total assets less current liabilities | £28,743,570 | £26,725,581 | £147,349,150 | +451.3% | |
| Net assets | -£12,526,111 | -£34,399,431 | -£68,509,923 | -99.2% | |
| Equity | -£12,526,111 | -£34,399,431 | -£68,509,923 | -99.2% | |
| Average employees | 75 | 101 | 121 | +19.8% | |
| Wages | £6,023,387 | £7,876,740 | £12,953,820 | +64.5% | |
| Directors' remuneration | £408,546 | £473,335 | £647,067 | +36.7% | |
| Directors' pension contributions | £1,289 | £882 | £8,956 | +915.4% | |
| Highest paid director | £167,937 | £236,707 | £265,723 | +12.3% |
Figures converted to GBP from USD at 0.744 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|---|
| Operating margin | -196.3% | -28.3% | -28.7% | |
| Net margin | -29.7% | -32.4% | -31.6% | |
| Return on capital employed | -63.3% | -74.9% | -21.1% | |
| Gearing (liabilities / total assets) | 127.3% | 164.3% | 136.1% | |
| Current ratio | 1.00x | 0.53x | 0.28x | |
| Interest cover | -22.69x | -15.80x | -10.80x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Gravita Audit II Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The company continues to make substantial losses and is dependent on the support of its shareholders and related party creditors. Loans amounting to US$55,774,156 due to a group of companies with common directors and shareholders are outstanding as well as trade payables of US$19,694,507.”
Significant events
- “Subsequent to the year end the company entered into a lease agreement to acquire a second Boeing 777 freighter which joined the company's fleet in November 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| LOVE, Michelle Fleur | Secretary | 2022-05-31 | — | — |
| BENNETT, Paul James | Director | 2022-05-31 | Mar 1969 | British |
| HOLMES, John Taylor | Director | 2022-05-31 | Jul 1949 | British |
| JONES, Stuart | Director | 2025-03-01 | Jul 1963 | British |
| MIKELSONS, Algirds | Director | 2026-02-25 | Nov 1960 | British,Latvian |
| MIRCHANDANI, Guneet | Director | 2021-05-20 | Jan 1998 | Indian |
| SIMMONS, Paul Andrew | Director | 2022-05-31 | Oct 1964 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BENNETT, Paul James | Secretary | 2021-05-20 | 2022-05-31 |
| HARTLEY, Jonathan Paul | Director | 2022-07-20 | 2026-02-25 |
| HOPE, Christopher | Director | 2022-05-18 | 2026-02-04 |
| MANNING, Marcus Philip | Director | 2026-02-28 | 2026-03-25 |
| TATTERSALL, David | Director | 2022-05-18 | 2026-04-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Paul James Bennett | Individual | Shares 50–75% | 2022-02-23 | Active |
| Air One Aviation Limited | Corporate entity | Shares 25–50%, Voting 25–50%, Appoints directors | 2021-05-20 | Ceased 2022-02-23 |
| Mr Guneet Mirchandani | Individual | Shares 25–50% | 2021-05-20 | Active |
Filing timeline
Last 20 of 34 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type full | |
| 2026-05-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-28 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-06 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-13 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-10 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-09 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-12 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-08-14 | AA | accounts | Accounts with accounts type full | |
| 2025-05-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-04 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-23 | AA | accounts | Accounts with accounts type full | |
| 2024-05-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-09-18 | AA | accounts | Accounts with accounts type full | |
| 2023-06-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-05-12 | SH01 | capital | Capital allotment shares | |
| 2022-07-26 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.