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REGISTERED NUMBER: 07562190 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

RAMAIR FILTERS LIMITED

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


RAMAIR FILTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D Mullan
L J Sturges





REGISTERED OFFICE: Unit 4 Birch
Kembrey Park
Swindon
Wiltshire
SN2 8UU





REGISTERED NUMBER: 07562190 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 188,312 194,988
Tangible assets 5 163,108 184,963
351,420 379,951

CURRENT ASSETS
Stocks 1,291,000 1,200,000
Debtors 6 548,044 495,788
Cash at bank and in hand 124,539 49,857
1,963,583 1,745,645
CREDITORS
Amounts falling due within one year 7 1,009,651 843,143
NET CURRENT ASSETS 953,932 902,502
TOTAL ASSETS LESS CURRENT LIABILITIES 1,305,352 1,282,453

CREDITORS
Amounts falling due after more than one
year

8

190,866

368,793
NET ASSETS 1,114,486 913,660

CAPITAL AND RESERVES
Called up share capital 10 2 2
Share premium 30,000 30,000
Retained earnings 1,084,484 883,658
SHAREHOLDERS' FUNDS 1,114,486 913,660

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.

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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 29 November 2023 and were signed on its behalf by:




D Mullan - Director



L J Sturges - Director


RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


1. STATUTORY INFORMATION

Ramair Filters 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 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.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.

Development costs are being amortised evenly over their estimated useful life of four 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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office & IT equipment - 33% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

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


RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


2. ACCOUNTING POLICIES - continued
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.

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 18 ) .

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


4. INTANGIBLE FIXED ASSETS
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 April 2022 31,000 185,000 80,788 296,788
Additions - 14,000 924 14,924
At 31 March 2023 31,000 199,000 81,712 311,712
AMORTISATION
At 1 April 2022 9,300 92,500 - 101,800
Amortisation for year 3,100 18,500 - 21,600
At 31 March 2023 12,400 111,000 - 123,400
NET BOOK VALUE
At 31 March 2023 18,600 88,000 81,712 188,312
At 31 March 2022 21,700 92,500 80,788 194,988

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 - 350,053 33,764
Additions 16,195 5,989 -
Disposals - - -
At 31 March 2023 16,195 356,042 33,764
DEPRECIATION
At 1 April 2022 - 258,575 18,208
Charge for year - 19,493 3,111
Eliminated on disposal - - -
At 31 March 2023 - 278,068 21,319
NET BOOK VALUE
At 31 March 2023 16,195 77,974 12,445
At 31 March 2022 - 91,478 15,556

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


5. TANGIBLE FIXED ASSETS - continued

Office &
Motor IT
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 120,864 40,432 545,113
Additions 58,500 - 80,684
Disposals (90,374 ) - (90,374 )
At 31 March 2023 88,990 40,432 535,423
DEPRECIATION
At 1 April 2022 43,673 39,694 360,150
Charge for year 18,709 369 41,682
Eliminated on disposal (29,517 ) - (29,517 )
At 31 March 2023 32,865 40,063 372,315
NET BOOK VALUE
At 31 March 2023 56,125 369 163,108
At 31 March 2022 77,191 738 184,963

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 185,906 118,701
Amounts owed by group undertakings - 29,331
Other debtors 53,108 38,726
239,014 186,758

Amounts falling due after more than one year:
Amounts owed by group undertakings 309,030 309,030

Aggregate amounts 548,044 495,788

RAMAIR FILTERS LIMITED (REGISTERED NUMBER: 07562190)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 49,783 41,453
Trade creditors 536,726 346,291
Amounts owed to group undertakings 66,568 -
Taxation and social security 74,594 187,908
Other creditors 281,980 267,491
1,009,651 843,143

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 31,416
Other creditors 190,866 337,377
190,866 368,793

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 49,783 72,869

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2,223 Ordinary 0.1p 2 2

11. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Polesitter Group Ltd a company incorporated in England & Wales. The registered office address and principal place of business of Polesitter Group Ltd is Unit 4 Birch, Kembrey Park, Swindon, SN2 8UU.