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REGISTERED NUMBER: 02987462 (England and Wales)














Airford Ltd

Unaudited Financial Statements

for the Period

1 October 2022 to 31 March 2023






Airford Ltd (Registered number: 02987462)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Airford Ltd

Company Information
for the Period 1 October 2022 to 31 March 2023







DIRECTORS: R Askham
Miss J Askham





SECRETARY: Miss J Askham





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 02987462 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Airford Ltd (Registered number: 02987462)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,752 -
Investment property 5 - 2,100,000
45,752 2,100,000

CURRENT ASSETS
Debtors 6 1,550 6,540
Cash at bank 2,023,636 5,893
2,025,186 12,433
CREDITORS
Amounts falling due within one year 7 278,334 180,545
NET CURRENT ASSETS/(LIABILITIES) 1,746,852 (168,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,792,604

1,931,888

PROVISIONS FOR LIABILITIES 8,693 322,459
NET ASSETS 1,783,911 1,609,429

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 8 - 1,697,150
Retained earnings 1,782,911 (88,721 )
SHAREHOLDERS' FUNDS 1,783,911 1,609,429

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

Airford Ltd (Registered number: 02987462)

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 14 June 2023 and were signed on its behalf by:





R Askham - Director


Airford Ltd (Registered number: 02987462)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2023

1. STATUTORY INFORMATION

Airford 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

Airford Ltd (Registered number: 02987462)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 49,790 1,174 50,964
At 31 March 2023 49,790 1,174 50,964
DEPRECIATION
Charge for period 5,149 63 5,212
At 31 March 2023 5,149 63 5,212
NET BOOK VALUE
At 31 March 2023 44,641 1,111 45,752

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 2,100,000
Disposals (2,100,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 30 September 2022 2,100,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 797,150
Valuation in 2022 900,000
Valuation in 2023 (1,697,150 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Due from related company 1,550 6,540

Airford Ltd (Registered number: 02987462)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - (2 )
Taxation 276,126 893
Social security and other taxes 217 237
Directors' current accounts 491 177,977
Accrued expenses 1,500 1,440
278,334 180,545

8. RESERVES
Revaluation
reserve
£   
At 1 October 2022 1,697,150
Revaluation in year (1,697,150 )

At 31 March 2023 -

9. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other debtors is a total amount of £1,550 (2022 : £6,540) that was owed by connected companies, in which the directors have a beneficial interest.

Included within other creditors, there is an amount of £491 (2022 : £177,4977), which is owed to the directors of the company. The loan is provided interest free and is unsecured. There is no formal terms and conditions regarding repayment of the loan.