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COMPANY REGISTRATION NUMBER: 11852325
Air Ops Safety Ltd
Filleted Unaudited Financial Statements
31 December 2021
Air Ops Safety Ltd
Statement of Financial Position
31 December 2021
31 Dec 21
31 Mar 21
Note
£
£
£
Fixed assets
Tangible assets
5
2,711
1,822
Current assets
Debtors
6
6,700
1,855
Cash at bank and in hand
20,736
9,113
--------
--------
27,436
10,968
Creditors: amounts falling due within one year
7
2,720
2,286
--------
--------
Net current assets
24,716
8,682
--------
--------
Total assets less current liabilities
27,427
10,504
--------
--------
Net assets
27,427
10,504
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
27,426
10,503
--------
--------
Shareholder funds
27,427
10,504
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Air Ops Safety Ltd
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 13 September 2022 , and are signed on behalf of the board by:
Dr Athena-Sophia Scaperdas
Director
Company registration number: 11852325
Air Ops Safety Ltd
Notes to the Financial Statements
Period from 1 April 2021 to 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Grand Avenue, Surbiton, Surrey, KT5 9HU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
33% straight line
Fixtures and fittings
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2021: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2021
1,971
1,963
3,934
Additions
1,382
879
2,261
-------
-------
-------
At 31 December 2021
3,353
2,842
6,195
-------
-------
-------
Depreciation
At 1 April 2021
1,218
894
2,112
Charge for the period
838
534
1,372
-------
-------
-------
At 31 December 2021
2,056
1,428
3,484
-------
-------
-------
Carrying amount
At 31 December 2021
1,297
1,414
2,711
-------
-------
-------
At 31 March 2021
753
1,069
1,822
-------
-------
-------
6. Debtors
31 Dec 21
31 Mar 21
£
£
Trade debtors
5,975
Other debtors
725
1,855
-------
-------
6,700
1,855
-------
-------
7. Creditors: amounts falling due within one year
31 Dec 21
31 Mar 21
£
£
Social security and other taxes
1,005
Other creditors
2,720
1,281
-------
-------
2,720
2,286
-------
-------