Silverfin false 31/03/2023 01/04/2022 31/03/2023 C R Chapman 16/07/2018 I M Whybrow 14/08/2015 27 November 2023 The principal activity of the Company during the financial year was the sale of mobile air traffic control towers and ancillary products. 05836193 2023-03-31 05836193 bus:Director1 2023-03-31 05836193 bus:Director2 2023-03-31 05836193 2022-03-31 05836193 core:CurrentFinancialInstruments 2023-03-31 05836193 core:CurrentFinancialInstruments 2022-03-31 05836193 core:ShareCapital 2023-03-31 05836193 core:ShareCapital 2022-03-31 05836193 core:RetainedEarningsAccumulatedLosses 2023-03-31 05836193 core:RetainedEarningsAccumulatedLosses 2022-03-31 05836193 core:Vehicles 2022-03-31 05836193 core:FurnitureFittings 2022-03-31 05836193 core:Vehicles 2023-03-31 05836193 core:FurnitureFittings 2023-03-31 05836193 2022-04-01 2023-03-31 05836193 bus:FullAccounts 2022-04-01 2023-03-31 05836193 bus:SmallEntities 2022-04-01 2023-03-31 05836193 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05836193 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05836193 bus:Director1 2022-04-01 2023-03-31 05836193 bus:Director2 2022-04-01 2023-03-31 05836193 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 05836193 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 05836193 2021-04-01 2022-03-31 05836193 core:Vehicles 2022-04-01 2023-03-31 05836193 core:FurnitureFittings 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 05836193 (England and Wales)

MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

BALANCE SHEET

As at 31 March 2023
MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 17,246 21,255
17,246 21,255
Current assets
Stocks 4 265,000 225,000
Debtors 5 1,978,640 2,133,973
Cash at bank and in hand 500,464 424,925
2,744,104 2,783,898
Creditors: amounts falling due within one year 6 ( 365,099) ( 608,552)
Net current assets 2,379,005 2,175,346
Total assets less current liabilities 2,396,251 2,196,601
Provision for liabilities ( 4,312) ( 5,314)
Net assets 2,391,939 2,191,287
Capital and reserves
Called-up share capital 1 1
Profit and loss account 2,391,938 2,191,286
Total shareholder's funds 2,391,939 2,191,287

For the financial 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 financial statements of Mobile Air Traffic Control Systems Limited (registered number: 05836193) were approved and authorised for issue by the Director on 27 November 2023. They were signed on its behalf by:

I M Whybrow
Director
MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
MOBILE AIR TRAFFIC CONTROL SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mobile Air Traffic Control Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2a, Centric Latimer Way, New Ollerton, Newark, NG22 9QW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other 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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other 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.

Government grants
Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 April 2022 26,915 7,568 34,483
Additions 22,995 0 22,995
Disposals ( 26,915) 0 ( 26,915)
At 31 March 2023 22,995 7,568 30,563
Accumulated depreciation
At 01 April 2022 7,176 6,052 13,228
Charge for the financial year 5,749 1,516 7,265
Disposals ( 7,176) 0 ( 7,176)
At 31 March 2023 5,749 7,568 13,317
Net book value
At 31 March 2023 17,246 0 17,246
At 31 March 2022 19,739 1,516 21,255

4. Stocks

2023 2022
£ £
Stocks 265,000 225,000

5. Debtors

2023 2022
£ £
Trade debtors 151,650 132,113
Amounts owed by Group undertakings 1,738,838 1,938,838
Other debtors 88,152 63,022
1,978,640 2,133,973

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,466 3,357
Taxation and social security 28,928 41,469
Other creditors 334,705 563,726
365,099 608,552