4 false false false false false false false false false true false false false false true true No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 2 2 2 1,242,546 23,115 1,265,661 1,265,661 1,242,546 xbrli:pure xbrli:shares iso4217:GBP 04719218 2022-04-01 2023-03-31 04719218 2023-03-31 04719218 2022-03-31 04719218 2021-04-01 2022-03-31 04719218 2022-03-31 04719218 core:FurnitureFittings 2022-04-01 2023-03-31 04719218 core:MotorVehicles 2022-04-01 2023-03-31 04719218 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 04719218 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 04719218 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 04719218 bus:OrdinaryShareClass5 2022-04-01 2023-03-31 04719218 bus:Director1 2022-04-01 2023-03-31 04719218 core:WithinOneYear 2023-03-31 04719218 core:WithinOneYear 2022-03-31 04719218 core:FurnitureFittings 2022-03-31 04719218 core:MotorVehicles 2022-03-31 04719218 core:FurnitureFittings 2023-03-31 04719218 core:MotorVehicles 2023-03-31 04719218 core:ShareCapital 2023-03-31 04719218 core:ShareCapital 2022-03-31 04719218 core:SharePremium 2023-03-31 04719218 core:SharePremium 2022-03-31 04719218 core:RetainedEarningsAccumulatedLosses 2023-03-31 04719218 core:RetainedEarningsAccumulatedLosses 2022-03-31 04719218 core:NetGoodwill 2023-03-31 04719218 core:NetGoodwill 2022-03-31 04719218 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 04719218 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 04719218 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 04719218 core:Non-currentFinancialInstruments 2023-03-31 04719218 core:Non-currentFinancialInstruments 2022-03-31 04719218 core:FurnitureFittings 2022-03-31 04719218 core:MotorVehicles 2022-03-31 04719218 bus:SmallEntities 2022-04-01 2023-03-31 04719218 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04719218 bus:FullAccounts 2022-04-01 2023-03-31 04719218 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04719218 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04719218 bus:AllOrdinaryShares 2023-03-31 04719218 bus:AllOrdinaryShares 2022-03-31 04719218 bus:OrdinaryShareClass2 2023-03-31 04719218 bus:OrdinaryShareClass2 2022-03-31 04719218 bus:OrdinaryShareClass3 2023-03-31 04719218 bus:OrdinaryShareClass3 2022-03-31 04719218 bus:OrdinaryShareClass4 2023-03-31 04719218 bus:OrdinaryShareClass4 2022-03-31 04719218 bus:OrdinaryShareClass5 2023-03-31 04719218 bus:OrdinaryShareClass5 2022-03-31
COMPANY REGISTRATION NUMBER: 04719218
Airey Limited
Filleted Unaudited Financial Statements
31 March 2023
Airey Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
2
2
Tangible assets
6
6,664
8,871
Investments
7
1,265,661
1,242,546
------------
------------
1,272,327
1,251,419
Current assets
Debtors
8
44,017
39,638
Cash at bank and in hand
258,856
229,683
---------
---------
302,873
269,321
Creditors: amounts falling due within one year
9
83,458
77,164
---------
---------
Net current assets
219,415
192,157
------------
------------
Total assets less current liabilities
1,491,742
1,443,576
Provisions
Taxation including deferred tax
34,715
------------
------------
Net assets
1,457,027
1,443,576
------------
------------
Airey Limited
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
10
20,853
20,853
Share premium account
972,255
972,255
Profit and loss account
463,919
450,468
------------
------------
Shareholders funds
1,457,027
1,443,576
------------
------------
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 year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 October 2023 , and are signed on behalf of the board by:
Mr JRA Crabtree
Director
Company registration number: 04719218
Airey Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The White House, School Lane, Crowle, Worcester, WR7 4AR.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Subsequently investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be be reliably measurable on an on-going basis.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Rental income is recognised on a time apportioned basis for the period in question.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures & fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
2
----
Amortisation
At 1 April 2022 and 31 March 2023
----
Carrying amount
At 31 March 2023
2
----
At 31 March 2022
2
----
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
6,929
25,055
10,906
42,890
-------
--------
--------
--------
Depreciation
At 1 April 2022
6,818
17,128
10,073
34,019
Charge for the year
17
1,982
208
2,207
-------
--------
--------
--------
At 31 March 2023
6,835
19,110
10,281
36,226
-------
--------
--------
--------
Carrying amount
At 31 March 2023
94
5,945
625
6,664
-------
--------
--------
--------
At 31 March 2022
111
7,927
833
8,871
-------
--------
--------
--------
7. Investments
Other investments other than loans
£
Cost
At 1 April 2022
1,242,546
Revaluations
23,115
------------
At 31 March 2023
1,265,661
------------
Impairment
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
1,265,661
------------
At 31 March 2022
1,242,546
------------
Investments consist of investment properties £1,244,961 (2022: £1,214,106) and quoted shares £20,700 (2022: £28,440). The investment properties are valued by the directors as at the balance sheet date on the basis of current rental yield, using yields derived from similar properties. The historical cost equivalent of investment property is £1,022,228 and £50,374 for quoted shares.
8. Debtors
2023
2022
£
£
Trade debtors
38,303
34,650
Prepayments and accrued income
5,714
4,988
--------
--------
44,017
39,638
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
27,890
28,136
Corporation tax
33,280
28,503
Social security and other taxes
9,042
7,226
Director loan accounts
4,220
4,220
Other creditors
9,026
9,079
--------
--------
83,458
77,164
--------
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
£1 A Ordinary shares of £ 1 each
12,242
12,242
12,242
12,242
£1 B Ordinary shares of £ 1 each
4,000
4,000
4,000
4,000
£1 C Ordinary shares of £ 1 each
2,275
2,275
2,275
2,275
£1 D Ordinary shares of £ 1 each
1,800
1,800
1,800
1,800
£1 E Ordinary shares of £1 each
536
536
536
536
--------
--------
--------
--------
20,853
20,853
20,853
20,853
--------
--------
--------
--------
11. Directors' advances, credits and guarantees
At the period end the company owed J R A Crabtree £4,220 (2022: £4,220). This is unsecured, interest free with no formal repayment date and arose from advances of £Nil (2022: £Nil) and repayments of £Nil (2022: £Nil).