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Registration number: 13931596

DM-AirTech Ltd

Annual Report and Unaudited Financial Statements

for the Period from 22 February 2022 to 28 February 2023

 

DM-AirTech Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

DM-AirTech Ltd

Company Information

Director

Mr Pierre Patrick Bouche

Registered office

128 City Road
London
EC1V 2NX

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

DM-AirTech Ltd

(Registration number: 13931596)
Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

1,492

Current assets

 

Debtors

5

271

Cash at bank and in hand

 

32,580

 

32,851

Creditors: Amounts falling due within one year

6

(25,578)

Net current assets

 

7,273

Net assets

 

8,765

Capital and reserves

 

Called up share capital

2,500

Retained earnings

6,265

Shareholders' funds

 

8,765

For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 1 January 2023
 

.........................................
Mr Pierre Patrick Bouche
Director

 

DM-AirTech Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2022 to 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
128 City Road
London
EC1V 2NX
England

These financial statements were authorised for issue by the director on 1 January 2023.

The company registration number is 13931596

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

DM-AirTech Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2022 to 28 February 2023

Asset class

Depreciation method and rate

Office equipment

33.33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3.

 

DM-AirTech Ltd

Notes to the Unaudited Financial Statements for the Period from 22 February 2022 to 28 February 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

2,238

2,238

At 28 February 2023

2,238

2,238

Depreciation

Charge for the period

746

746

At 28 February 2023

746

746

Carrying amount

At 28 February 2023

1,492

1,492

5

Debtors

Current

2023
£

Other debtors

271

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Taxation and social security

962

Accruals and deferred income

24,448

Other creditors

168

25,578

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £2.50 each

1,000

2,500.00