Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03837832 2022-11-01 2023-10-31 03837832 2021-11-01 2022-10-31 03837832 2023-10-31 03837832 2022-10-31 03837832 c:Director1 2022-11-01 2023-10-31 03837832 d:OfficeEquipment 2022-11-01 2023-10-31 03837832 d:OfficeEquipment 2023-10-31 03837832 d:OfficeEquipment 2022-10-31 03837832 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 03837832 d:CurrentFinancialInstruments 2023-10-31 03837832 d:CurrentFinancialInstruments 2022-10-31 03837832 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 03837832 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 03837832 d:ShareCapital 2023-10-31 03837832 d:ShareCapital 2022-10-31 03837832 d:RetainedEarningsAccumulatedLosses 2023-10-31 03837832 d:RetainedEarningsAccumulatedLosses 2022-10-31 03837832 c:FRS102 2022-11-01 2023-10-31 03837832 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 03837832 c:FullAccounts 2022-11-01 2023-10-31 03837832 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 03837832 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 03837832









AIR RESEARCH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
AIR RESEARCH LIMITED
REGISTERED NUMBER: 03837832

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,751
1,500

  
1,751
1,500

Current assets
  

Debtors: amounts falling due within one year
 5 
25,487
11,792

Cash at bank and in hand
 6 
25,130
43,270

  
50,617
55,062

Creditors: amounts falling due within one year
 7 
(22,698)
(14,408)

Net current assets
  
 
 
27,919
 
 
40,654

Total assets less current liabilities
  
29,670
42,154

  

Net assets
  
29,670
42,154


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
29,570
42,054

  
29,670
42,154


Page 1

 
AIR RESEARCH LIMITED
REGISTERED NUMBER: 03837832
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 February 2024.




................................................
Paul Eustace
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
AIR RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Air Research Limited is a private limited company limited by share capital. The company is registered in England and Wales, company number 03837832. The Company's registered office is located at 35 Ashcroft Park, Cobham, Surrey KT11 2DN. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
AIR RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

2023
2022
£
£

Wages and salaries
108,000
94,250

Social security costs
7,422
6,579

Cost of defined contribution scheme
1,650
1,800

117,072
102,629


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
AIR RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 November 2022
4,473


Additions
898



At 31 October 2023

5,371



Depreciation


At 1 November 2022
2,973


Charge for the year on owned assets
647



At 31 October 2023

3,620



Net book value



At 31 October 2023
1,751



At 31 October 2022
1,500


5.


Debtors

2023
2022
£
£


Trade debtors
13,499
-

Prepayments and accrued income
11,988
11,792

25,487
11,792



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
25,130
43,270

25,130
43,270


Page 5

 
AIR RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
373

Other taxation and social security
12,580
8,964

Other creditors
6,389
3,427

Accruals and deferred income
3,729
1,644

22,698
14,408


 
Page 6