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REGISTERED NUMBER: 09674366 (England and Wales)















Airfi Networks UK Limited

Financial Statements

for the Year Ended 31 December 2022






Airfi Networks UK Limited (Registered number: 09674366)

Contents of the Financial Statements
for the year ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Airfi Networks UK Limited

Company Information
for the year ended 31 December 2022







Directors: I C Campbell
P Murphy
P R Atherton





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 09674366 (England and Wales)






Airfi Networks UK Limited (Registered number: 09674366)

Balance Sheet
31 December 2022

2022 2021
Notes $ $ $ $
Fixed assets
Investments 4 4 4

Current assets
Debtors 5 5,096,111 4,481,076
Cash at bank 29,500 12,315
5,125,611 4,493,391
Creditors
Amounts falling due within one year 6 3,743,265 3,720,516
Net current assets 1,382,346 772,875
Total assets less current liabilities 1,382,350 772,879

Capital and reserves
Called up share capital 7 337 290
Share premium 8 5,761,971 5,397,648
Retained earnings 8 (4,379,958 ) (4,625,059 )
Shareholders' funds 1,382,350 772,879

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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.

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 29 September 2023 and were signed on its behalf by:





I C Campbell - Director


Airfi Networks UK Limited (Registered number: 09674366)

Notes to the Financial Statements
for the year ended 31 December 2022


1. Statutory information

Airfi Networks UK 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 General 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.

The accounts are presented in US Dollars ($).

Amounts in these financial statements are rounded to the nearest $.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3. Employees and directors

The average number of employees during the year was 3 (2021 - 3 ) .

4. Fixed asset investments
Shares in
group
undertakings
$
Cost
At 1 January 2022
and 31 December 2022 4
Net book value
At 31 December 2022 4
At 31 December 2021 4

Airfi Networks UK Limited (Registered number: 09674366)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


5. Debtors: amounts falling due within one year
2022 2021
$ $
Amounts owed by group undertakings 5,055,426 4,436,570
VAT 26,430 28,454
Prepayments and accrued income 14,255 16,052
5,096,111 4,481,076

6. Creditors: amounts falling due within one year
2022 2021
$ $
Bank loans and overdrafts 30,955 56,108
Other loans 2,950,209 2,479,935
Trade creditors 21,234 10,094
Social security and other taxes 161,579 90,254
Other creditors 397,137 992,696
Directors' current accounts 155,086 79,238
Accruals and deferred income 27,065 12,191
3,743,265 3,720,516

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: $ $
27,183 Ordinary £0.01 337 290

5,785 Ordinary shares of £0.01 each were allotted as fully paid at a premium of $142.6248 per share during the year.

8. Reserves
Retained Share
earnings premium Totals
$ $ $

At 1 January 2022 (4,625,059 ) 5,397,648 772,589
Deficit for the year (269,531 ) (269,531 )
Share issue - 1,016,562 1,016,562
Foreign exchange movements 514,632 (652,239 ) (137,607 )
At 31 December 2022 (4,379,958 ) 5,761,971 1,382,013