IRIS Accounts Production v23.3.0.418 00980284 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false false true false Ordinary 0.50000 Ordinary A 0.50000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh009802842022-06-30009802842023-06-30009802842022-07-012023-06-30009802842021-06-30009802842021-07-012022-06-30009802842022-06-3000980284ns10:Originalns15:EnglandWales2022-07-012023-06-3000980284ns14:PoundSterlingns10:Original2022-07-012023-06-3000980284ns10:Originalns10:Director12022-07-012023-06-3000980284ns10:Original2022-07-012023-06-3000980284ns10:Original2023-06-3000980284ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3000980284ns10:Originalns10:SmallEntities2022-07-012023-06-3000980284ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3000980284ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3000980284ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3000980284ns10:Originalns10:FullAccounts2022-07-012023-06-3000980284ns10:Original12022-07-012023-06-3000980284ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3000980284ns10:Originalns10:OrdinaryShareClass22022-07-012023-06-3000980284ns10:Originalns10:Director22022-07-012023-06-3000980284ns10:Originalns10:RegisteredOffice2022-07-012023-06-3000980284ns10:Original2022-06-3000980284ns10:Originalns5:CurrentFinancialInstruments2023-06-3000980284ns10:Originalns5:CurrentFinancialInstruments2022-06-3000980284ns5:ShareCapitalns10:Original2023-06-3000980284ns5:ShareCapitalns10:Original2022-06-3000980284ns10:Originalns5:SharePremium2023-06-3000980284ns10:Originalns5:SharePremium2022-06-3000980284ns10:Originalns5:RevaluationReserve2023-06-3000980284ns10:Originalns5:RevaluationReserve2022-06-3000980284ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3000980284ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3000980284ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-07-012023-06-3000980284ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-07-012023-06-3000980284ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-07-012023-06-3000980284ns10:Originalns5:FurnitureFittings2022-07-012023-06-3000980284ns10:Original2021-07-012022-06-3000980284ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-3000980284ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-06-3000980284ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-06-3000980284ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3000980284ns10:Originalns5:FurnitureFittings2022-06-3000980284ns10:Original2022-06-3000980284ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-06-3000980284ns10:Originalns5:FurnitureFittings2023-06-3000980284ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3000980284ns10:Originalns5:FurnitureFittings2022-06-3000980284ns10:Originalns5:CostValuation2022-06-3000980284ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3000980284ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3000980284ns10:Originalns5:DeferredTaxation2022-06-3000980284ns10:Originalns5:DeferredTaxation2023-06-3000980284ns10:Originalns10:OrdinaryShareClass12023-06-3000980284ns10:Originalns10:OrdinaryShareClass22023-06-3000980284ns10:Originalns5:RevaluationReserve2022-06-30
REGISTERED NUMBER: 00980284 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

A.I.R EDEL ASSOCIATES LIMITED

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A.I.R EDEL ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M J Rodford
R C B Cope





REGISTERED OFFICE: 18 Rodmarton Street
London
W1U 8BJ





REGISTERED NUMBER: 00980284 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1,386,000 1,386,000
Tangible assets 6 32,935 21,604
Investments 7 2 2
1,418,937 1,407,606

CURRENT ASSETS
Debtors 8 660,316 648,770
Cash at bank and in hand 1,123,334 901,256
1,783,650 1,550,026
CREDITORS
Amounts falling due within one year 9 2,166,941 1,904,634
NET CURRENT LIABILITIES (383,291 ) (354,608 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,035,646

1,052,998

PROVISIONS FOR LIABILITIES 10 8,234 1,489
NET ASSETS 1,027,412 1,051,509

CAPITAL AND RESERVES
Called up share capital 11 10,001 10,001
Share premium 1,069,000 1,069,000
Revaluation reserve 12 1,124,628 1,124,628
Retained earnings (1,176,217 ) (1,152,120 )
SHAREHOLDERS' FUNDS 1,027,412 1,051,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 20 December 2023 and were signed on its behalf by:





M J Rodford - Director


A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

A.I.R Edel Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention other than intangible assets which are stated at open market value in the opinion of the directors.

After making enquiries, the directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover
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 Value Added Tax.

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 nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - at varying rates on cost
Fixtures, fittings and equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued

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.

Copyrights
Master costs are initially recognised at cost and are not amortised. The open market value of intangible assets is reviewed at the balance sheet date and adjusted by the directors if materially different from the carrying value in the financial statements.

Although this accounting policy is in accordance with the financial reporting standards, it is a departure from the general requirement of the Companies Act 2006 for all intangible assets to be amortised. In the opinion of the directors, compliance with the standard is necessary to give a true and fair view.

Bounce back loan scheme
The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5%per annum.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost or valuation
At 1 July 2022
and 30 June 2023 1,386,000
Net book value
At 30 June 2023 1,386,000
At 30 June 2022 1,386,000

The intangible assets were last valued on an open market basis by external valuers on 15 February 2019. The directors are of the opinion that there has been no material change in valuation since the external valuation. No amortisation is provided in respect of these figures.

On a historical cost basis these assets would have been included at an original cost of £261,372.

Cost or valuation at 30 June 2023 is represented by:

Other
intangible
assets
£   
Valuation in 2013 1,094,628
Valuation in 2018 30,000
Cost 261,372
1,386,000

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold and
improvements equipment Totals
£    £    £   
Cost
At 1 July 2022 287,145 339,289 626,434
Additions - 21,807 21,807
Disposals (287,145 ) (319,306 ) (606,451 )
At 30 June 2023 - 41,790 41,790
Depreciation
At 1 July 2022 286,967 317,863 604,830
Charge for year - 4,993 4,993
Eliminated on disposal (286,967 ) (314,001 ) (600,968 )
At 30 June 2023 - 8,855 8,855
Net book value
At 30 June 2023 - 32,935 32,935
At 30 June 2022 178 21,426 21,604

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 July 2022
and 30 June 2023 5,001
Provisions
At 1 July 2022
and 30 June 2023 4,999
Net book value
At 30 June 2023 2
At 30 June 2022 2

The company owns 100% of the issued share capital in A.I.R-Edel Recording Studios Limited, a company in
registered in England and Wales, whose principal activity is the provision of recording studio services. As at 30 June 2023, A.I.R-Edel Recording Studios Limited made a profit after tax of £63,997 (2022: loss of £16,825) and had net reserves of £256,456 (2022: £192,459).

The company owns 100% of the issued common stock of Air-Edel US, LLC, a company incorporated and registered in Delaware, United States of America, whose principal activity is the operation of a US based office representation service. The company made a loss in the year of $66,059 (2022: $9,652) and had a deficiency in reserves of $593,724 (2022: $537,316) as at 30 June 2023.

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The
company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts, and hence the accounts present information about the company as an individual undertaking and not about the group as a whole.

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 635,954 492,449
Amounts owed by group undertakings 4,265 135,749
Other debtors 6,065 6,065
Prepayments and accrued income 14,032 14,507
660,316 648,770

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 419,504 180,797
Amounts owed to group undertakings 588,359 594,193
Corporation Tax 1,010 46,284
Social security and other taxes 20,190 19,442
VAT 16,629 53,389
Accruals and deferred income 1,121,249 1,010,529
2,166,941 1,904,634

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,234 1,489

Deferred
tax
£   
Balance at 1 July 2022 1,489
Capital allowances in excess
of depreciation 6,745
Balance at 30 June 2023 8,234

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
18,001 Ordinary £.50 9,001 9,001
2,000 Ordinary A £0.50 1,000 1,000
10,001 10,001

All share classes rank pari passu is an all respects.

12. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 1,124,628

A.I.R EDEL ASSOCIATES LIMITED (REGISTERED NUMBER: 00980284)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

13. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclosure related party transactions with wholly owned subsidiaries within the group.