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REGISTERED NUMBER: 12406680 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Aerofinity Ltd

Aerofinity Ltd (Registered number: 12406680)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aerofinity Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R Stockman
Mrs L Stockman





REGISTERED OFFICE: Unit D, Devon Suite
Dencora Business Centre
36 Whitehouse Road
Ipswich
Suffolk
IP1 5LT





REGISTERED NUMBER: 12406680 (England and Wales)





ACCOUNTANTS: RDP Accountants
Devon Suite
Dencora Business Centre
36 White House Road
Ipswich
Suffolk
IP1 5LT

Aerofinity Ltd (Registered number: 12406680)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,113 1,272
Tangible assets 5 5,452 6,916
6,565 8,188

CURRENT ASSETS
Stocks 305 -
Debtors 6 21,683 14,914
Cash at bank 12,663 7,742
34,651 22,656
CREDITORS
Amounts falling due within one year 7 11,193 17,161
NET CURRENT ASSETS 23,458 5,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,023

13,683

PROVISIONS FOR LIABILITIES 1,036 1,314
NET ASSETS 28,987 12,369

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 28,982 12,364
SHAREHOLDERS' FUNDS 28,987 12,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Aerofinity Ltd (Registered number: 12406680)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





R Stockman - Director


Aerofinity Ltd (Registered number: 12406680)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Aerofinity Ltd 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.

Patents and licences are being amortised evenly over their estimated useful life of ten 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 etc - 25% on reducing balance and not provided

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

Aerofinity Ltd (Registered number: 12406680)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 1,590
AMORTISATION
At 1 April 2022 318
Charge for year 159
At 31 March 2023 477
NET BOOK VALUE
At 31 March 2023 1,113
At 31 March 2022 1,272

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 10,049
Additions 351
At 31 March 2023 10,400
DEPRECIATION
At 1 April 2022 3,133
Charge for year 1,815
At 31 March 2023 4,948
NET BOOK VALUE
At 31 March 2023 5,452
At 31 March 2022 6,916

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 3,146 14,819
Other debtors 18,537 95
21,683 14,914

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 858 4,814
Taxation and social security 6,929 3,713
Other creditors 3,406 8,634
11,193 17,161

Aerofinity Ltd (Registered number: 12406680)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
R Stockman
Balance outstanding at start of year (5,632 ) (6,532 )
Amounts advanced 5,632 1,000
Amounts repaid - (100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (5,632 )

Mrs L Stockman
Balance outstanding at start of year (2,000 ) (2,000 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,000 ) (2,000 )