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REGISTERED NUMBER: 04685566 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Air Compressor Services Limited

Air Compressor Services Limited (Registered number: 04685566)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Air Compressor Services Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr R Jacques





SECRETARY: Mrs C R M James





REGISTERED OFFICE: Unit 21
Bridgwater Court
Oldmixon Crescent
Weston-super-Mare
Somerset
BS24 9AY





REGISTERED NUMBER: 04685566 (England and Wales)





ACCOUNTANTS: P W John & Co
Parkview
23 Wadham Street
Weston-super-Mare
Somerset
BS23 1JZ

Air Compressor Services Limited (Registered number: 04685566)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 208,380 193,732

CURRENT ASSETS
Stocks 23,429 5,841
Debtors 5 737,586 516,650
Cash at bank and in hand 291,347 537,754
1,052,362 1,060,245
CREDITORS
Amounts falling due within one year 6 (153,081 ) (181,212 )
NET CURRENT ASSETS 899,281 879,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,107,661

1,072,765

PROVISIONS FOR LIABILITIES (4,096 ) (4,096 )
NET ASSETS 1,103,565 1,068,669

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 1,103,464 1,068,568
SHAREHOLDERS' FUNDS 1,103,565 1,068,669

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 director acknowledges his 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.

Air Compressor Services Limited (Registered number: 04685566)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Mr R Jacques - Director


Air Compressor Services Limited (Registered number: 04685566)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Air Compressor Services 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.

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

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property is stated at cost.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Air Compressor Services Limited (Registered number: 04685566)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Investment Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 164,811 14,332 91,750 15,001 285,894
Additions - - 43,090 1,125 44,215
Disposals - - (35,620 ) - (35,620 )
At 30 June 2023 164,811 14,332 99,220 16,126 294,489
DEPRECIATION
At 1 July 2022 - 12,513 65,951 13,698 92,162
Charge for year - 273 13,466 801 14,540
Eliminated on disposal - - (20,593 ) - (20,593 )
At 30 June 2023 - 12,786 58,824 14,499 86,109
NET BOOK VALUE
At 30 June 2023 164,811 1,546 40,396 1,627 208,380
At 30 June 2022 164,811 1,819 25,799 1,303 193,732

5. DEBTORS
30.6.23 30.6.22
£    £   
Amounts falling due within one year:
Trade debtors 155,469 107,268
Other debtors 172,735 -
328,204 107,268

Amounts falling due after more than one year:
Other debtors 409,382 409,382

Aggregate amounts 737,586 516,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 113,290 50,176
Taxation and social security 33,541 99,605
Other creditors 6,250 31,431
153,081 181,212

Air Compressor Services Limited (Registered number: 04685566)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mr R Jacques
Balance outstanding at start of year (25,180 ) (16,510 )
Amounts advanced 248,164 41,580
Amounts repaid (50,250 ) (50,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 172,734 (25,180 )