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COMPANY REGISTRATION NUMBER: 02411685
Airfotos Ltd
Filleted Unaudited Financial Statements
31 March 2023
Airfotos Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
2,516
2,962
Current assets
Debtors
5
2,461
37,885
Cash at bank and in hand
855
5,445
-------
--------
3,316
43,330
Creditors: amounts falling due within one year
6
2,431
5,123
-------
--------
Net current assets
885
38,207
-------
--------
Total assets less current liabilities
3,401
41,169
-------
--------
Net assets
3,401
41,169
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,301
41,069
-------
--------
Shareholders funds
3,401
41,169
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Airfotos Ltd
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 21 December 2023 , and are signed on behalf of the board by:
C M McLeod
Director
Company registration number: 02411685
Airfotos Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Southside, Woolsington, Newcastle Upon Tyne, NE13 8BT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded to the nearest £1. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery - 15% reducing balance
Fixtures & fittings - 15% reducing balance
Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
9,657
1,224
10,881
-------
-------
--------
Depreciation
At 1 April 2022
7,689
230
7,919
Charge for the year
295
151
446
-------
-------
--------
At 31 March 2023
7,984
381
8,365
-------
-------
--------
Carrying amount
At 31 March 2023
1,673
843
2,516
-------
-------
--------
At 31 March 2022
1,968
994
2,962
-------
-------
--------
5. Debtors
2023
2022
£
£
Trade debtors
1,656
312
Other debtors
805
37,573
-------
--------
2,461
37,885
-------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
231
2,254
Other creditors
2,200
2,869
-------
-------
2,431
5,123
-------
-------