Sorry not sure about engineering. Never saw any accounts for them for this year.
However the previous years accounts appeared to show losses of 40-50K per year. This in addition to the fact that most of the major outgoings of aer engineering were paid directly by aero club, namely, rent, electrics, engineers salary, BP bill, and bills for aero parts. Difficult to understand how it was still losing this amount of money. The accumulated debt from engineering to aero club was about 250K, which showed in the club reserves. Steve Askey queried this on several occassions at AGMs, but not being an accountant I have to confess I never really understood the anwers, but on the face of it, and according to Steve Askey (an accountant member) engineering may have been trading illegally for some time. I wonder if it had not been liquidated sooner, because that would have wiped out the reserves on the clubc accounts, and brought thyem to insolvency too. No doubt the administrators will sought that one out. Perhaps one of our accountant members can comment?