Registered number
03318279
Aeroforma Technologies Group Limited
Filleted Accounts
31 March 2023
Aeroforma Technologies Group Limited
Registered number: 03318279
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,591,405 1,930,242
Investments 4 3,958,259 3,958,259
5,549,664 5,888,501
Current assets
Debtors 5 2,357,265 1,816,108
Cash at bank and in hand 41,337 14,031
2,398,602 1,830,139
Creditors: amounts falling due within one year 6 (4,431,448) (55,583)
Net current (liabilities)/assets (2,032,846) 1,774,556
Total assets less current liabilities 3,516,818 7,663,057
Creditors: amounts falling due after more than one year 7 (10,131) (4,462,297)
Provisions for liabilities (139,304) (208,646)
Net assets 3,367,383 2,992,114
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 3,317,383 2,942,114
Shareholders' funds 3,367,383 2,992,114
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A P Kwiatkowski
Director
Approved by the board on 7 February 2024
Aeroforma Technologies Group Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 provision of management services. Turnover from the provision of management services is recognised in line with the period to which those services relate.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 5,221,246 305,787 5,527,033
Additions 39,500 52,000 91,500
Disposals (73,975) (34,595) (108,570)
At 31 March 2023 5,186,771 323,192 5,509,963
Depreciation
At 1 April 2022 3,451,637 145,154 3,596,791
Charge for the year 361,625 40,164 401,789
On disposals (50,366) (29,656) (80,022)
At 31 March 2023 3,762,896 155,662 3,918,558
Net book value
At 31 March 2023 1,423,875 167,530 1,591,405
At 31 March 2022 1,769,609 160,633 1,930,242
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2022 3,958,259
At 31 March 2023 3,958,259
Historical cost
At 1 April 2022 4,795,735
At 31 March 2023 4,795,735
5 Debtors 2023 2022
£ £
Trade debtors 442,375 355,625
Amounts owed by group undertakings and undertakings in which the company has a participating interest 520,000 1,460,483
Other debtors 1,394,890 -
2,357,265 1,816,108
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 17,126 17,126
Trade creditors (163,728) (82,635)
Taxation and social security costs 63,263 (15,058)
Other creditors 4,514,787 136,150
4,431,448 55,583
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,131 27,257
Other creditors - 4,435,040
10,131 4,462,297
8 Related party transactions
The company provide management services to other subsidiary companies in the group as well as to other companies under the control of the directors themselves.
9 Controlling party
The ultimate controlling party is E W Kwiatkowski, whom, together with his spouse owns 100% of the company issued share capital.
10 Other information
Aeroforma Technologies Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7
Cranfield Road
Lostock Industrial Estate
Bolton
BL6 4SB
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