Company registration number 03686971 (England and Wales)
AIR IMPROVE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AIR IMPROVE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AIR IMPROVE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
15,244
25,193
Current assets
Stocks
6
68,629
52,643
Debtors
7
441,560
332,870
Cash at bank and in hand
641,525
552,763
1,151,714
938,276
Creditors: amounts falling due within one year
8
(310,354)
(194,764)
Net current assets
841,360
743,512
Total assets less current liabilities
856,604
768,705
Provisions for liabilities
(3,597)
-
0
Net assets
853,007
768,705
Capital and reserves
Called up share capital
480,000
480,000
Profit and loss reserves
373,007
288,705
Total equity
853,007
768,705

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 26 March 2024 and are signed on its behalf by:
A Mead
Director
Company Registration No. 03686971
AIR IMPROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Air Improve Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 City Business Centre, Hyde Street, Winchester, Hampshire, United Kingdom, SO23 7TA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

AIR IMPROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
4% straight line
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

AIR IMPROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
16
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
264,249
Amortisation and impairment
At 1 January 2023 and 31 December 2023
264,249
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2023
58,004
833
2,122
21,028
167,176
249,163
Additions
-
0
572
-
0
2,857
-
0
3,429
Disposals
-
0
-
0
-
0
-
0
(56,122)
(56,122)
At 31 December 2023
58,004
1,405
2,122
23,885
111,054
196,470
Depreciation and impairment
At 1 January 2023
54,813
233
1,998
15,071
151,855
223,970
Depreciation charged in the year
2,320
187
24
2,148
8,699
13,378
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(56,122)
(56,122)
At 31 December 2023
57,133
420
2,022
17,219
104,432
181,226
Carrying amount
At 31 December 2023
871
985
100
6,666
6,622
15,244
At 31 December 2022
3,191
600
124
5,957
15,321
25,193
AIR IMPROVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Stocks
2023
2022
£
£
Stocks
68,629
52,643
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
411,066
285,388
Corporation tax recoverable
-
0
27,090
Other debtors
30,494
20,392
441,560
332,870
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
176,344
131,901
Corporation tax
52,711
17,699
Other taxation and social security
10,869
11,155
Other creditors
70,430
34,009
310,354
194,764
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
4,833
10,633
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Director loans
-
-
13,000
13,000
-
13,000
13,000
2023-12-312023-01-01false11 April 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityD P KirbyMrs E A KirbyM RogersJ M LantG P CurryA MeadJ D Millarfalse036869712023-01-012023-12-31036869712023-12-31036869712022-12-3103686971core:LandBuildingscore:OwnedOrFreeholdAssets2023-12-3103686971core:PlantMachinery2023-12-3103686971core:FurnitureFittings2023-12-3103686971core:ComputerEquipment2023-12-3103686971core:MotorVehicles2023-12-3103686971core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103686971core:PlantMachinery2022-12-3103686971core:FurnitureFittings2022-12-3103686971core:ComputerEquipment2022-12-3103686971core:MotorVehicles2022-12-3103686971core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3103686971core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3103686971core:CurrentFinancialInstruments2023-12-3103686971core:CurrentFinancialInstruments2022-12-3103686971core:ShareCapital2023-12-3103686971core:ShareCapital2022-12-3103686971core:RetainedEarningsAccumulatedLosses2023-12-3103686971core:RetainedEarningsAccumulatedLosses2022-12-3103686971bus:Director62023-01-012023-12-3103686971core:Goodwill2023-01-012023-12-3103686971core:LandBuildingscore:OwnedOrFreeholdAssets2023-01-012023-12-3103686971core:PlantMachinery2023-01-012023-12-3103686971core:FurnitureFittings2023-01-012023-12-3103686971core:ComputerEquipment2023-01-012023-12-3103686971core:MotorVehicles2023-01-012023-12-31036869712022-01-012022-12-3103686971core:NetGoodwill2022-12-3103686971core:NetGoodwill2023-12-3103686971core:NetGoodwill2022-12-3103686971core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-3103686971core:PlantMachinery2022-12-3103686971core:FurnitureFittings2022-12-3103686971core:ComputerEquipment2022-12-3103686971core:MotorVehicles2022-12-31036869712022-12-3103686971core:WithinOneYear2023-12-3103686971core:WithinOneYear2022-12-3103686971bus:PrivateLimitedCompanyLtd2023-01-012023-12-3103686971bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103686971bus:FRS1022023-01-012023-12-3103686971bus:AuditExemptWithAccountantsReport2023-01-012023-12-3103686971bus:Director12023-01-012023-12-3103686971bus:Director22023-01-012023-12-3103686971bus:Director32023-01-012023-12-3103686971bus:Director42023-01-012023-12-3103686971bus:Director52023-01-012023-12-3103686971bus:CompanySecretary12023-01-012023-12-3103686971bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP