IRIS Accounts Production v23.4.0.336 04167149 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false true false A Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041671492022-09-30041671492023-09-30041671492022-10-012023-09-30041671492021-09-30041671492021-10-012022-09-30041671492022-09-3004167149ns15:EnglandWales2022-10-012023-09-3004167149ns14:PoundSterling2022-10-012023-09-3004167149ns10:Director12022-10-012023-09-3004167149ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3004167149ns10:SmallEntities2022-10-012023-09-3004167149ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3004167149ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3004167149ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3004167149ns10:FullAccounts2022-10-012023-09-3004167149ns10:OrdinaryShareClass12022-10-012023-09-3004167149ns10:OrdinaryShareClass22022-10-012023-09-3004167149ns10:Director22022-10-012023-09-3004167149ns10:CompanySecretary12022-10-012023-09-3004167149ns10:RegisteredOffice2022-10-012023-09-3004167149ns5:CurrentFinancialInstruments2023-09-3004167149ns5:CurrentFinancialInstruments2022-09-3004167149ns5:Non-currentFinancialInstruments2023-09-3004167149ns5:Non-currentFinancialInstruments2022-09-3004167149ns5:ShareCapital2023-09-3004167149ns5:ShareCapital2022-09-3004167149ns5:RetainedEarningsAccumulatedLosses2023-09-3004167149ns5:RetainedEarningsAccumulatedLosses2022-09-3004167149ns5:NetGoodwill2022-10-012023-09-3004167149ns5:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-3004167149ns5:PlantMachinery2022-10-012023-09-3004167149ns5:FurnitureFittings2022-10-012023-09-3004167149ns5:ComputerEquipment2022-10-012023-09-3004167149ns5:PlantMachinery2022-09-3004167149ns5:FurnitureFittings2022-09-3004167149ns5:ComputerEquipment2022-09-3004167149ns5:PlantMachinery2023-09-3004167149ns5:FurnitureFittings2023-09-3004167149ns5:ComputerEquipment2023-09-3004167149ns5:PlantMachinery2022-09-3004167149ns5:FurnitureFittings2022-09-3004167149ns5:ComputerEquipment2022-09-3004167149ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3004167149ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3004167149ns10:OrdinaryShareClass12023-09-3004167149ns10:OrdinaryShareClass22023-09-30
REGISTERED NUMBER: 04167149 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2023

for

AIR SYSTEMS (SW) LIMITED

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AIR SYSTEMS (SW) LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: A P Mildon
K D Bye





SECRETARY: K D Bye





REGISTERED OFFICE: Bath House
6-8 Bath Street
Bristol
BS1 6HL





REGISTERED NUMBER: 04167149 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Balance Sheet
30 SEPTEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,504 5,296

CURRENT ASSETS
Debtors 5 1,180,483 881,275
Cash at bank 146,994 233,023
1,327,477 1,114,298
CREDITORS
Amounts falling due within one year 6 (1,115,734 ) (986,398 )
NET CURRENT ASSETS 211,743 127,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,247

133,196

CREDITORS
Amounts falling due after more than one
year

7

(17,500

)

(27,500

)
NET ASSETS 197,747 105,696

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 197,647 105,596
SHAREHOLDERS' FUNDS 197,747 105,696

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Balance Sheet - continued
30 SEPTEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





K D Bye - Director


AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. COMPANY INFORMATION

Air Systems (SW) 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite any potential future adverse effects on the economy, the company has adequate resources to continue in operational existence for the foreseeable future. Based on this assessment and the current resources available, the directors have concluded that they can 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 and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. Turnover is recognised when the goods are delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Cash and cash equivalents
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 2,230 5,403 47,640 55,273
DEPRECIATION
At 1 October 2022 1,783 4,495 43,699 49,977
Charge for year 112 135 1,545 1,792
At 30 September 2023 1,895 4,630 45,244 51,769
NET BOOK VALUE
At 30 September 2023 335 773 2,396 3,504
At 30 September 2022 447 908 3,941 5,296

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,167,194 820,047
Other debtors 6,537 28,440
Prepayments 6,752 32,788
1,180,483 881,275

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bounce back loan 10,000 10,000
Trade creditors 695,220 548,510
Corporation tax 56,881 19,492
Social security and other taxes - 11,157
VAT 1,956 10,020
Other creditors 1,811 2,255
Lloyds invoice discounting 168,343 207,393
Directors' current accounts 112,560 130,122
Accruals and deferred income 68,963 47,449
1,115,734 986,398

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce back loan 17,500 27,500

AIR SYSTEMS (SW) LIMITED (REGISTERED NUMBER: 04167149)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Invoice discounting 168,343 207,393

The invoice discounting facility is secured as a fixed and floating charge over the company's assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
60 A Ordinary £1.00 60 60
40 B Ordinary £1.00 40 40
100 100