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REGISTERED NUMBER: 06534784 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Airbox Systems Limited

Airbox Systems Limited (Registered number: 06534784)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Airbox Systems Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: W A E Moore
J Hill
M D Peckham





REGISTERED OFFICE: Unit 4 The Quadrangle
Grove Business Park
Wantage
Oxfordshire
OX12 9FA





REGISTERED NUMBER: 06534784 (England and Wales)





ACCOUNTANTS: Aspen Waite South Ltd
Boston House
Grove Business Park
Wantage
Oxfordshire
OX12 9FF

Airbox Systems Limited (Registered number: 06534784)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,360,162 1,468,649
Tangible assets 5 73,593 98,026
Investments 6 100 100
2,433,855 1,566,775

CURRENT ASSETS
Debtors 7 671,878 1,539,220
Cash at bank 1,818,374 753,086
2,490,252 2,292,306
CREDITORS
Amounts falling due within one year 8 3,047,338 2,958,313
NET CURRENT LIABILITIES (557,086 ) (666,007 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,876,769

900,768

CREDITORS
Amounts falling due after more than one
year

9

1,171,925

252,876
NET ASSETS 704,844 647,892

CAPITAL AND RESERVES
Called up share capital 11 62 62
Share premium 390 390
Capital redemption reserve 48 48
Other reserves (251,060 ) (251,060 )
Retained earnings 955,404 898,452
SHAREHOLDERS' FUNDS 704,844 647,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Airbox Systems Limited (Registered number: 06534784)

Balance Sheet - continued
31 March 2022


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 18 August 2022 and were signed on its behalf by:





W A E Moore - Director


Airbox Systems Limited (Registered number: 06534784)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Airbox Systems 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software Development is being amortised evenly over its estimated useful life of three years.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
During the period the company benefited from Government grants in the form of the interest charges and loan arrangement fees covered by the Government for the Coronavirus Business Interruption Loan Scheme (CBILS) for the first 12 months. In accordance with our accounting policy, this credit is included in other income within the Income Statement over the same period as the interest and finance charges for which it compensates.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Airbox Systems Limited (Registered number: 06534784)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued
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 46 (2021 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2021 1,483,649
Additions 1,659,842
At 31 March 2022 3,143,491
AMORTISATION
At 1 April 2021 15,000
Charge for year 768,329
At 31 March 2022 783,329
NET BOOK VALUE
At 31 March 2022 2,360,162
At 31 March 2021 1,468,649

Airbox Systems Limited (Registered number: 06534784)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021
and 31 March 2022 32,000 81,590 77,291 190,881
DEPRECIATION
At 1 April 2021 - 26,772 66,083 92,855
Charge for year 3,200 13,704 7,529 24,433
At 31 March 2022 3,200 40,476 73,612 117,288
NET BOOK VALUE
At 31 March 2022 28,800 41,114 3,679 73,593
At 31 March 2021 32,000 54,818 11,208 98,026

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2021
and 31 March 2022 100
NET BOOK VALUE
At 31 March 2022 100
At 31 March 2021 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 564,260 1,424,194
Amounts owed by group undertakings 26,720 18,749
Other debtors 80,898 96,277
671,878 1,539,220

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 275,411 45,035
Hire purchase contracts 10,577 10,577
Trade creditors 290,196 88,654
Taxation and social security 221,959 559,480
Other creditors 2,249,195 2,254,567
3,047,338 2,958,313

Airbox Systems Limited (Registered number: 06534784)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 1,134,591 204,965
Hire purchase contracts 37,334 47,911
1,171,925 252,876

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 1,410,000 -

The bank loans are secured by fixed and floating charges over the fixed assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
62 Ordinary £1 62 62

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
W A E Moore
Balance outstanding at start of year (3,420 ) (17,725 )
Amounts advanced - 14,305
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (3,420 )