IRIS Accounts Production v23.3.0.418 02591971 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure025919712022-03-31025919712023-03-31025919712022-04-012023-03-31025919712021-03-31025919712021-04-012022-03-31025919712022-03-3102591971ns16:EnglandWales2022-04-012023-03-3102591971ns15:PoundSterling2022-04-012023-03-3102591971ns11:Director12022-04-012023-03-3102591971ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3102591971ns11:SmallEntities2022-04-012023-03-3102591971ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3102591971ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3102591971ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3102591971ns11:FullAccounts2022-04-012023-03-3102591971ns11:OrdinaryShareClass12022-04-012023-03-3102591971ns11:Director22022-04-012023-03-3102591971ns11:CompanySecretary12022-04-012023-03-3102591971ns11:RegisteredOffice2022-04-012023-03-3102591971ns6:CurrentFinancialInstruments2023-03-3102591971ns6:CurrentFinancialInstruments2022-03-3102591971ns6:ShareCapital2023-03-3102591971ns6:ShareCapital2022-03-3102591971ns6:RetainedEarningsAccumulatedLosses2023-03-3102591971ns6:RetainedEarningsAccumulatedLosses2022-03-3102591971ns6:PlantMachinery2022-03-3102591971ns6:FurnitureFittings2022-03-3102591971ns6:PlantMachinery2022-04-012023-03-3102591971ns6:FurnitureFittings2022-04-012023-03-3102591971ns6:PlantMachinery2023-03-3102591971ns6:FurnitureFittings2023-03-3102591971ns6:PlantMachinery2022-03-3102591971ns6:FurnitureFittings2022-03-3102591971ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3102591971ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3102591971ns6:Secured2023-03-3102591971ns6:Secured2022-03-3102591971ns11:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 02591971 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

AIRMARK SYSTEMS LIMITED

AIRMARK SYSTEMS LIMITED (REGISTERED NUMBER: 02591971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AIRMARK SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Directors: Mrs O M Colebrook
Mr J J Colebrook





Secretary: Mrs A I Colebrook





Registered office: Adams Close
Heanor Gate Industrial Estate
Heanor
Derbyshire
DE75 7SW





Registered number: 02591971 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

AIRMARK SYSTEMS LIMITED (REGISTERED NUMBER: 02591971)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 7,424 7,120

Current assets
Stocks 25,937 28,517
Debtors 5 49,720 33,695
75,657 62,212
Creditors
Amounts falling due within one year 6 (341,703 ) (270,707 )
Net current liabilities (266,046 ) (208,495 )
Total assets less current liabilities (258,622 ) (201,375 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings (258,722 ) (201,475 )
Shareholders' funds (258,622 ) (201,375 )

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.

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 7 November 2023 and were signed on its behalf by:





Mr J J Colebrook - Director


AIRMARK SYSTEMS LIMITED (REGISTERED NUMBER: 02591971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Airmark Systems 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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes the continued support of Isolated Systems Limited a related party and significant customer. Isolated Systems Limited has confirmed it is prepared to support the company for a period of not less than twelve months from the signing of these financial statements. On that basis the accounts do not include any of the adjustments which would be necessary should the going concern basis not be appropriate.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance

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.

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

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's
pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

AIRMARK SYSTEMS LIMITED (REGISTERED NUMBER: 02591971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£ £ £
Cost
At 1 April 2022 37,402 64,697 102,099
Additions 2,550 - 2,550
At 31 March 2023 39,952 64,697 104,649
Depreciation
At 1 April 2022 33,718 61,261 94,979
Charge for year 1,559 687 2,246
At 31 March 2023 35,277 61,948 97,225
Net book value
At 31 March 2023 4,675 2,749 7,424
At 31 March 2022 3,684 3,436 7,120

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 48,680 33,023
Prepayments and accrued income 1,040 672
49,720 33,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 13,655 14,075
Trade creditors 120,809 109,131
Social security and other taxes 2,474 2,459
VAT 3,669 2,637
Other creditors 189,400 113,400
Directors' current accounts 2,500 -
Accruals and deferred income 9,196 29,005
341,703 270,707

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank overdrafts 13,655 14,075

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

AIRMARK SYSTEMS LIMITED (REGISTERED NUMBER: 02591971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. RELATED PARTY DISCLOSURES

At the year end, the company owed Isolated Systems Ltd £189,400 (2022: £113,400). This balance is included in Other Creditors. No interest is charged on this loan as it is repayable on demand.

Included in Trade Debtors are £15,295 receivable from Isolated Systems Ltd and £1,186 receivable from MCL Unitex Ltd.

Included in Trade Creditors are £77,504 due to Isolated Systems Ltd and £4,918 due to Prilex Ltd.

All of the above companies are related parties.