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REGISTERED NUMBER: 02762147 (England and Wales)






Aero-Tek (UK) Limited

Financial Statements

for the Year Ended 27 July 2023






Aero-Tek (UK) Limited (Registered number: 02762147)

Contents of the Financial Statements
for the year ended 27 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aero-Tek (UK) Limited

Company Information
for the year ended 27 July 2023







DIRECTORS: Mr P A Dunford
Mrs J M Dunford





SECRETARY: Mr P A Dunford





REGISTERED OFFICE: Roseneath
263 Barnsley Road
Flockton
Wakefield
West Yorkshire
WF4 4AT





REGISTERED NUMBER: 02762147 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Aero-Tek (UK) Limited (Registered number: 02762147)

Balance Sheet
27 July 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment property 4 1,815,000 1,815,000

CURRENT ASSETS
Debtors 5 502,001 625,364
Cash at bank 5,589 21,037
507,590 646,401
CREDITORS
Amounts falling due within one year 6 75,013 548,992
NET CURRENT ASSETS 432,577 97,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,247,577

1,912,409

CREDITORS
Amounts falling due after more than one
year

7

(402,500

)

-

PROVISIONS FOR LIABILITIES (107,629 ) (107,629 )
NET ASSETS 1,737,448 1,804,780

Aero-Tek (UK) Limited (Registered number: 02762147)

Balance Sheet - continued
27 July 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 659,569 659,569
Retained earnings 1,077,779 1,145,111
SHAREHOLDERS' FUNDS 1,737,448 1,804,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 July 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 23 April 2024 and were signed on its behalf by:





Mrs J M Dunford - Director


Aero-Tek (UK) Limited (Registered number: 02762147)

Notes to the Financial Statements
for the year ended 27 July 2023


1. STATUTORY INFORMATION

Aero-Tek (UK) 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 (£).


All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
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 its financial instruments.

Financial instruments are recognised in the company's balance sheet 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.

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.


Aero-Tek (UK) Limited (Registered number: 02762147)

Notes to the Financial Statements - continued
for the year ended 27 July 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 28 July 2022
and 27 July 2023 1,815,000
NET BOOK VALUE
At 27 July 2023 1,815,000
At 27 July 2022 1,815,000

The directors are of the opinion that the current carrying value of the investment properties are a fair reflection of the market value in the current climate.

The historic cost of the investment properties is £1,042,802.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 19,444 18,682
Amounts owed by connected parties 122,789 101,227
Other debtors 104,676 104,175
Directors' current accounts 219,693 361,949
VAT 30,820 32,246
Prepayments and accrued income 4,579 7,085
502,001 625,364

Aero-Tek (UK) Limited (Registered number: 02762147)

Notes to the Financial Statements - continued
for the year ended 27 July 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 30,000 509,742
Trade creditors 13,732 7,965
Corporation tax 4,505 20,392
Social security and other taxes 2,184 1,151
Accruals and deferred income 24,592 9,742
75,013 548,992

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 1-2 years 30,000 -
Bank loans - 2-5 years 372,500 -
402,500 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank overdraft - 509,742
Bank loans 432,500 -
432,500 509,742

The bank loans and overdraft are secured by a legal charge and debenture over the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
24 Ordinary £1 24 24
51 A Ordinary £1 51 51
25 B Ordinary £1 25 25
100 100

Aero-Tek (UK) Limited (Registered number: 02762147)

Notes to the Financial Statements - continued
for the year ended 27 July 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 27 July 2023 and 27 July 2022:

2023 2022
£ £
Mr P A Dunford
Balance outstanding at start of year 180,975 174,475
Amounts advanced 250 6,500
Amounts repaid (71,378 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,847 180,975

Mrs J M Dunford
Balance outstanding at start of year 180,974 174,474
Amounts advanced - 6,500
Amounts repaid (71,128 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 109,846 180,974