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REGISTERED NUMBER: 06540327 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Air Xtreme Limited

Air Xtreme Limited (Registered number: 06540327)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Air Xtreme Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: T G Crook





SECRETARY: T G Crook





REGISTERED OFFICE: 4 Applin Green
Emersons Green
Bristol
BS16 7ES





REGISTERED NUMBER: 06540327 (England and Wales)





ACCOUNTANTS: Equifino Ltd
128 City Road
London
EC1V 2NX

Air Xtreme Limited (Registered number: 06540327)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,876 26,501

CURRENT ASSETS
Stocks 750 750
Debtors 5 228,122 228,008
Cash at bank 319 319
229,191 229,077
CREDITORS
Amounts falling due within one year 6 233,794 148,754
NET CURRENT (LIABILITIES)/ASSETS (4,603 ) 80,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,273

106,824

CREDITORS
Amounts falling due after more than
one year

7

(122,010

)

(120,180

)

PROVISIONS FOR LIABILITIES (2,676 ) (2,676 )
NET LIABILITIES (109,413 ) (16,032 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (109,417 ) (16,036 )
(109,413 ) (16,032 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Xtreme Limited (Registered number: 06540327)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





T G Crook - Director


Air Xtreme Limited (Registered number: 06540327)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Air Xtreme 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 that of the provisions of air conditioning systems including installation and servicing.

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.

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 the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Air Xtreme Limited (Registered number: 06540327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
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.

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 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.

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.

Air Xtreme Limited (Registered number: 06540327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 5,949 75,451 81,400
DEPRECIATION
At 1 April 2022 3,614 51,285 54,899
Charge for year 584 6,041 6,625
At 31 March 2023 4,198 57,326 61,524
NET BOOK VALUE
At 31 March 2023 1,751 18,125 19,876
At 31 March 2022 2,335 24,166 26,501

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 80,899 74,571
Amounts owed by group undertakings 115,750 115,750
Other debtors - 37,687
Directors' current accounts 31,473 -
228,122 228,008

Air Xtreme Limited (Registered number: 06540327)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 19,400 14,068
Hire purchase contracts 7,840 1,043
Trade creditors 99,606 33,091
Tax 10,839 10,839
Social security and other taxes 12,170 -
VAT 14,095 16,951
Other creditors 61,733 64,590
Directors' current accounts - 61
Accruals and deferred income 8,111 8,111
233,794 148,754

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 118,974 113,295
Hire purchase contracts 3,036 6,885
122,010 120,180

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs S V Crook and T G Crook
Balance outstanding at start of year - -
Amounts advanced 31,412 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,412 -

The directors had an overdrawn balance as at 31 March 2023 (Owed to directors £61 as at 31 March 2022). This balance was cleared by 31 October 2023.