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REGISTERED NUMBER: 05340047 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

AIRSPACE SOLUTIONS.COM LIMITED

AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AIRSPACE SOLUTIONS.COM LIMITED

Company Information
for the year ended 31 October 2023







DIRECTORS: G M Gerrish
Mrs L Gerrish



SECRETARY: Mrs L Gerrish



REGISTERED OFFICE: Unit 17
Tafarnaubach Industrial
Estate
Tredegar
Gwent
NP22 3AA



REGISTERED NUMBER: 05340047 (England and Wales)



ACCOUNTANTS: Neuhoff & Co
Chartered Accountants
Claydons Barns
11 Towcester Road
Whittlebury
Northamptonshire
NN12 8XU



BANKERS: National Westminster Bank Plc
7 High Street
Marlow
Buckinghamshire
SL7 1BZ

AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 47,984 22,032

CURRENT ASSETS
Stocks 339,189 215,608
Debtors 5 300,624 391,776
Cash at bank and in hand 440,248 536,412
1,080,061 1,143,796
CREDITORS
Amounts falling due within one year 6 (285,118 ) (359,435 )
NET CURRENT ASSETS 794,943 784,361
TOTAL ASSETS LESS CURRENT
LIABILITIES

842,927

806,393

CREDITORS
Amounts falling due after more than one
year

7

(75,000

)

(120,875

)
NET ASSETS 767,927 685,518

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 767,827 685,418
SHAREHOLDERS' FUNDS 767,927 685,518

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)

Balance Sheet - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





G M Gerrish - Director


AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Airspace Solutions.com 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 (£).


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.

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.
Plant and machinery etc - 25% on cost, 15% on cost and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Government grants
Government grants towards the purchase of plant and machinery are taken to a deferred income account and credited to the Profit and Loss Account as the asset is amortised.

AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 179,203
Additions 32,990
At 31 October 2023 212,193
DEPRECIATION
At 1 November 2022 157,171
Charge for year 7,038
At 31 October 2023 164,209
NET BOOK VALUE
At 31 October 2023 47,984
At 31 October 2022 22,032

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 146,208 296,503
Amounts owed by group undertakings 112,530 -
Other debtors 41,886 95,273
300,624 391,776

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,000 36,000
Hire purchase contracts (see note 8) 339 1,669
Trade creditors 121,299 151,951
Taxation and social security 107,005 128,067
Other creditors 20,475 41,748
285,118 359,435

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 75,000 111,000
Hire purchase contracts (see note 8) - 9,875
75,000 120,875

AIRSPACE SOLUTIONS.COM LIMITED (REGISTERED NUMBER: 05340047)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The Bank Loan has been made under the CBIL Scheme with the Partial Guarantee provided by the Department of Business Energy and Industrial Strategy. Further Security is provided under a charge created on 6 October 2011 with National Westminster Bank PLc.the loan is for a term of 72 months with repayments having commenced in December 2021.

8. LEASING AGREEMENTS

As at 31 October 2023 the company had total commitments under operating leases amounting to £16,394 (2022 - £26,584).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Just Air Holdings Ltd.

Just Air Holdings Ltd acquired 100% of the issued share capital of the company on 18 November 2020.