Acorah Software Products - Accounts Production 14.5.601 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 09741517 Mr Ian Bonthrone Mr Burl Brim Jr Mr Trevor Abraham Mrs Julie Brim iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09741517 2022-12-31 09741517 2023-12-31 09741517 2023-01-01 2023-12-31 09741517 frs-core:CurrentFinancialInstruments 2023-12-31 09741517 frs-core:MotorVehicles 2023-12-31 09741517 frs-core:MotorVehicles 2023-01-01 2023-12-31 09741517 frs-core:MotorVehicles 2022-12-31 09741517 frs-core:PlantMachinery 2023-12-31 09741517 frs-core:PlantMachinery 2023-01-01 2023-12-31 09741517 frs-core:PlantMachinery 2022-12-31 09741517 frs-core:ShareCapital 2023-12-31 09741517 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 09741517 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09741517 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 09741517 frs-bus:SmallEntities 2023-01-01 2023-12-31 09741517 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09741517 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09741517 frs-bus:Director1 2023-01-01 2023-12-31 09741517 frs-bus:Director2 2023-01-01 2023-12-31 09741517 frs-bus:Director3 2023-01-01 2023-12-31 09741517 frs-bus:Director4 2023-01-01 2023-12-31 09741517 frs-countries:EnglandWales 2023-01-01 2023-12-31 09741517 2021-12-31 09741517 2022-12-31 09741517 2022-01-01 2022-12-31 09741517 frs-core:CurrentFinancialInstruments 2022-12-31 09741517 frs-core:ShareCapital 2022-12-31 09741517 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 09741517
Air Rescue UK Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Phillips Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09741517
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 110,641 7,614
110,641 7,614
CURRENT ASSETS
Debtors 5 734,663 725,959
Cash at bank and in hand 1,021,389 576,373
1,756,052 1,302,332
Creditors: Amounts Falling Due Within One Year 6 (405,348 ) (319,238 )
NET CURRENT ASSETS (LIABILITIES) 1,350,704 983,094
TOTAL ASSETS LESS CURRENT LIABILITIES 1,461,345 990,708
PROVISIONS FOR LIABILITIES
Deferred Taxation (31,619 ) (1,447 )
NET ASSETS 1,429,726 989,261
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 1,429,626 989,161
SHAREHOLDERS' FUNDS 1,429,726 989,261
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Bonthrone
Director
09/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Air Rescue UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09741517 . The registered office is 4 Pearson Road, Central Park, Telford, Shropshire, TF2 9TX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 20% on cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 21 (2022: 21)
21 21
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 77,066 - 77,066
Additions 50,838 75,639 126,477
As at 31 December 2023 127,904 75,639 203,543
Depreciation
As at 1 January 2023 69,452 - 69,452
Provided during the period 7,550 15,900 23,450
As at 31 December 2023 77,002 15,900 92,902
...CONTINUED
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Net Book Value
As at 31 December 2023 50,902 59,739 110,641
As at 1 January 2023 7,614 - 7,614
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 480,172 647,480
Prepayments and accrued income 149,821 78,479
Amounts owed by associates 104,670 -
734,663 725,959
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 5,812 1,993
Corporation tax 245,108 188,890
Other taxes and social security 136,823 114,322
Pension Fund 12,502 11,008
Accrued expenses 5,103 3,025
405,348 319,238
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
8. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 480,000 480,030
480,000 480,030
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