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REGISTERED NUMBER: 06995816 (England and Wales)












AIRPORT FACILITIES (MAINTENANCE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

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


AIRPORT FACILITIES (MAINTENANCE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: K J W Weir
D R Churcher





REGISTERED OFFICE: Suite 6 Furzehall Farm
110 Wickham Road
Fareham
Hampshire
PO16 7JH





REGISTERED NUMBER: 06995816 (England and Wales)

AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 183,430 112,700

CURRENT ASSETS
Stocks 508,765 338,754
Debtors 5 2,451,344 1,430,948
Cash at bank and in hand 1,057,765 268,867
4,017,874 2,038,569
CREDITORS
Amounts falling due within one year 6 (2,746,408 ) (666,283 )
NET CURRENT ASSETS 1,271,466 1,372,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,454,896

1,484,986

CREDITORS
Amounts falling due after more than one
year

7

(120,557

)

(132,098

)

PROVISIONS FOR LIABILITIES 10 (45,858 ) (28,175 )
NET ASSETS 1,288,481 1,324,713

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,288,480 1,324,712
SHAREHOLDERS' FUNDS 1,288,481 1,324,713

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.

AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

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 31 July 2024 and were signed on its behalf by:





K J W Weir - Director


AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Airport Facilities (Maintenance) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

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 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 £1.

Turnover
Turnover represents the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of value added tax.

Where turnover relates to long term projects, it is recognised based on the percentage completion of each project, making due allowance for any loss making contracts at the point at which the loss becomes foreseeable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - Straight line over 4 years and Straight line over 3 years
Computer equipment - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Work in progress
Work in progress is valued at the lower of cost or net realisable value, after making due allowance for any irrecoverable costs.

Taxation
Taxation for the year comprises current 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 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.


AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

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.

Financial assets
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 assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 25 ) .

AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 November 2022 154,114 4,781 158,895
Additions 118,953 357 119,310
Disposals (24,695 ) - (24,695 )
At 31 October 2023 248,372 5,138 253,510
DEPRECIATION
At 1 November 2022 41,684 4,511 46,195
Charge for year 48,321 259 48,580
Eliminated on disposal (24,695 ) - (24,695 )
At 31 October 2023 65,310 4,770 70,080
NET BOOK VALUE
At 31 October 2023 183,062 368 183,430
At 31 October 2022 112,430 270 112,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,678,224 1,064,385
Amounts owed by group undertakings 84,027 345,684
Other debtors 689,093 20,879
2,451,344 1,430,948

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Hire purchase contracts (see note 8) 36,160 24,573
Trade creditors 275,118 184,073
Amounts owed to group undertakings 1,336,950 -
Taxation and social security 756,519 264,324
Other creditors 341,661 193,313
2,746,408 666,283

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Hire purchase contracts (see note 8) 120,557 91,666
Other creditors - 40,432
120,557 132,098

AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


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

Creditors due in more than one year include amounts owed to related parties totalling £Nil (2022: £40,432).

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 36,160 24,573
Between one and five years 120,557 91,666
156,717 116,239

Non-cancellable
operating leases
2023 2022
£ £
Within one year 79,846 60,858
Between one and five years 94,109 50,477
173,955 111,335

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 156,717 116,239
Other creditors - 60,317
156,717 176,556

Other creditors includes a loan that is secured by way of a floating charge over the assets of the company.

Hire purchase liabilities are secured against the assets to which the balances relate.

10. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 45,858 28,175

AIRPORT FACILITIES (MAINTENANCE) LIMITED (REGISTERED NUMBER: 06995816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 November 2022 28,175
Provided during year 17,683
Balance at 31 October 2023 45,858

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year amounts totalling £100,000 were advanced to the directors. Nil was repaid prior to the year end.

At the balance sheet date, the company was owed £100,000 by the directors.

The loan is interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

Cura Commercial Limited, a company incorporated in the United Kingdom, is the company's immediate and ultimate parent undertaking.

The registered office address of Cura Commercial Limited is Suite 6, Furzehall Farm, 110 Wickham Road, Fareham, Hampshire, PO16 7JH.