IRIS Accounts Production v24.2.0.383 06210837 Board of Directors 1.5.23 30.4.24 30.4.24 hire of generators and other equipment true false true true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062108372023-04-30062108372024-04-30062108372023-05-012024-04-30062108372022-04-30062108372022-05-012023-04-30062108372023-04-3006210837ns15:EnglandWales2023-05-012024-04-3006210837ns14:PoundSterling2023-05-012024-04-3006210837ns10:Director12023-05-012024-04-3006210837ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3006210837ns10:FRS1022023-05-012024-04-3006210837ns10:Audited2023-05-012024-04-3006210837ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3006210837ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3006210837ns10:FullAccounts2023-05-012024-04-3006210837ns10:OrdinaryShareClass12023-05-012024-04-3006210837ns10:Director22023-05-012024-04-3006210837ns10:Director32023-05-012024-04-3006210837ns10:Director42023-05-012024-04-3006210837ns10:CompanySecretary12023-05-012024-04-3006210837ns10:RegisteredOffice2023-05-012024-04-3006210837ns5:CurrentFinancialInstruments2024-04-3006210837ns5:CurrentFinancialInstruments2023-04-3006210837ns5:Non-currentFinancialInstruments2024-04-3006210837ns5:Non-currentFinancialInstruments2023-04-3006210837ns5:ShareCapital2024-04-3006210837ns5:ShareCapital2023-04-3006210837ns5:RetainedEarningsAccumulatedLosses2024-04-3006210837ns5:RetainedEarningsAccumulatedLosses2023-04-3006210837ns5:ShareCapital2022-04-3006210837ns5:RetainedEarningsAccumulatedLosses2022-04-3006210837ns5:RetainedEarningsAccumulatedLosses2022-05-012023-04-3006210837ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-300621083712023-05-012024-04-300621083712022-05-012023-04-3006210837ns5:PlantMachinery2023-05-012024-04-3006210837ns5:FurnitureFittings2023-05-012024-04-3006210837ns5:ComputerEquipment2023-05-012024-04-3006210837ns5:OwnedAssets2023-05-012024-04-3006210837ns5:OwnedAssets2022-05-012023-04-3006210837ns5:LeasedAssets2023-05-012024-04-3006210837ns5:LeasedAssets2022-05-012023-04-3006210837ns5:HirePurchaseContracts2023-05-012024-04-3006210837ns5:HirePurchaseContracts2022-05-012023-04-3006210837ns10:OrdinaryShareClass12022-05-012023-04-3006210837ns5:PlantMachinery2023-04-3006210837ns5:FurnitureFittings2023-04-3006210837ns5:MotorVehicles2023-04-3006210837ns5:ComputerEquipment2023-04-3006210837ns5:MotorVehicles2023-05-012024-04-3006210837ns5:PlantMachinery2024-04-3006210837ns5:FurnitureFittings2024-04-3006210837ns5:MotorVehicles2024-04-3006210837ns5:ComputerEquipment2024-04-3006210837ns5:PlantMachinery2023-04-3006210837ns5:FurnitureFittings2023-04-3006210837ns5:MotorVehicles2023-04-3006210837ns5:ComputerEquipment2023-04-3006210837ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3006210837ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-04-3006210837ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3006210837ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3006210837ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3006210837ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3006210837ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-04-3006210837ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-04-3006210837ns5:HirePurchaseContracts2024-04-3006210837ns5:HirePurchaseContracts2023-04-3006210837ns5:WithinOneYear2024-04-3006210837ns5:WithinOneYear2023-04-3006210837ns5:BetweenOneFiveYears2024-04-3006210837ns5:BetweenOneFiveYears2023-04-3006210837ns5:AllPeriods2024-04-3006210837ns5:AllPeriods2023-04-3006210837ns5:DeferredTaxation2023-04-3006210837ns5:DeferredTaxation2023-05-012024-04-3006210837ns5:DeferredTaxation2024-04-3006210837ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 06210837 (England and Wales)















GENAIR UK LTD

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






GENAIR UK LTD (REGISTERED NUMBER: 06210837)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


GENAIR UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: D G Timmins
P M Jones
M A Jones
P J Starling





SECRETARY: M A Jones





REGISTERED OFFICE: Marston House
5, Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





BUSINESS ADDRESS: Unit 2-3 Prothero Works
Bilport Lane
Wednesbury
WS10 0NT





REGISTERED NUMBER: 06210837 (England and Wales)





AUDITORS: Sephton & Company LLP
Chartered Certified Accountants
Statutory Auditors
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report for the year ended 30 April 2024.

REVIEW OF BUSINESS
We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the period end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

There has been no change in the principal activities of the company during the period.

PRINCIPAL RISKS AND UNCERTAINTIES
As for many business of our size, the business environment in which we operate continues to be challenging. The market is highly competitive and margins continue to be under pressure, we are of course subject to world economic patterns and the level of activity within our economy.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside our control.

The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the company's operations.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits, trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

DEVELOPMENT AND PERFORMANCE
We consider that our key performance indicators are those that communicate performance and strength of the company as a whole, these being turnover, gross margin and return on capital employed.

Turnover has increased by 9.91% compared to the previous period. Gross margin has decreased to 37.89% (2023 42.77%).

Overall there has been an operating profit of £3,499,874 (2023 £3,881,145) and a profit before tax of £3,433,392 (2023 £3,882,523). After taxation £2,692,478 has been added to the reserves.

Return on capital employed has decreased to 51.71% (2023 104.52%). Return on capital employed is calculated as profit before surplus arising on revaluation, exceptional items, interest and tax divided by capital employed, which constitutes total assets less current liabilities.

ON BEHALF OF THE BOARD:





D G Timmins - Director


9 August 2024

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their report with the financial statements of the company for the year ended 30 April 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £ 2,850,000 .

FUTURE DEVELOPMENTS
The directors anticipate the business environment will remain competitive. They believe that the company is in a good financial position and that the risks that have been identified are being well managed. The directors are confident in the company's ability to maintain and build on this position, to increase its turnover, profitability and grow its market share.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

D G Timmins
P M Jones
M A Jones
P J Starling

POLITICAL DONATIONS AND EXPENDITURE
No political donations have been made in the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


AUDITORS
The auditors, Sephton & Company LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D G Timmins - Director


9 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GENAIR UK LTD


Opinion
We have audited the financial statements of Genair UK Ltd (the 'company') for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

The corresponding figures shown in these financial statements are unaudited.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GENAIR UK LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GENAIR UK LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity, and motivations for fraud. As part of this discussion, we identified the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.

We gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, drawing on our broad sector experience and considered the risk of acts by the entity that were contrary to these laws and regulations, including fraud.
We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Health and Safety at Work Act 1974, the Pressure Systems Safety Regulations 2000, London's Low Emission Zone for Non-Road Mobile Machinery and adherence with ISO 9001 and ISO 14001.

We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information, for example we gained an understanding of, and inspected, the entity's Health and Safety Policy, obtained a tracker of all machinery to ensure that thorough inspections had been carried out in line with company policy (on a six year cycle each machine must be inspected by a qualified individual who will then provide a pass certificate), obtained a copy of the latest 'Dangerous Goods Safety Adviser' report which was dated 8 April 2024 and obtained copies of the appropriate certifications issued by a UKAS accredited company to confirm adherence with ISO 9001 and ISO 14001.

Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.
We also completed the following procedures:
- Performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- In addressing the risk of fraud through management override of controls, we tested journal entries and other adjustments for inappropriate or unusual journals outside of our expectations, as well as for any significant transactions outside the normal course of business, taking into consideration the scope for management to manipulate financial results;
- Assessed the appropriateness of key estimates and judgements made by management and challenged the assumptions used in accounting estimates. We considered the key estimates to be depreciation, bad debt provision and going concern.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.
In addition, as with any audit, there remained a higher risk of non-detection of fraud as these may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
GENAIR UK LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Steven Douglas Connell (Senior Statutory Auditor)
for and on behalf of Sephton & Company LLP
Chartered Certified Accountants
Statutory Auditors
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

9 August 2024

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
(Unaudited)
Notes £    £   

TURNOVER 13,528,063 12,308,179

Cost of sales 8,401,786 7,044,168
GROSS PROFIT 5,126,277 5,264,011

Administrative expenses 1,626,403 1,382,866
OPERATING PROFIT 4 3,499,874 3,881,145

Interest receivable and similar income 6,442 1,628
3,506,316 3,882,773

Interest payable and similar expenses 5 72,924 250
PROFIT BEFORE TAXATION 3,433,392 3,882,523

Tax on profit 6 740,914 819,126
PROFIT FOR THE FINANCIAL YEAR 2,692,478 3,063,397

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
(Unaudited)
Notes £    £   

PROFIT FOR THE YEAR 2,692,478 3,063,397


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,692,478

3,063,397

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

BALANCE SHEET
30 APRIL 2024

2024 2023
(Unaudited)
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,314,589 1,142,754

CURRENT ASSETS
Debtors 9 3,240,986 3,110,068
Cash at bank and in hand 1,388,435 999,163
4,629,421 4,109,231
CREDITORS
Amounts falling due within one year 10 1,426,151 1,538,966
NET CURRENT ASSETS 3,203,270 2,570,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,517,859

3,713,019

CREDITORS
Amounts falling due after more than one
year

11

(1,009,523

)

-

PROVISIONS FOR LIABILITIES 14 (173,980 ) (221,141 )
NET ASSETS 3,334,356 3,491,878

CAPITAL AND RESERVES
Called up share capital 15 2 2
Retained earnings 3,334,354 3,491,876
SHAREHOLDERS' FUNDS 3,334,356 3,491,878

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:





D G Timmins - Director


GENAIR UK LTD (REGISTERED NUMBER: 06210837)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 2 2,028,479 2,028,481

Changes in equity
Dividends - (1,600,000 ) (1,600,000 )
Total comprehensive income - 3,063,397 3,063,397
Balance at 30 April 2023 2 3,491,876 3,491,878

Changes in equity
Dividends - (2,850,000 ) (2,850,000 )
Total comprehensive income - 2,692,478 2,692,478
Balance at 30 April 2024 2 3,334,354 3,334,356

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
(Unaudited)
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,031,644 3,630,159
Interest element of hire purchase payments
paid

(72,924

)

(250

)
Tax paid (542,525 ) (540,455 )
Net cash from operating activities 2,416,195 3,089,454

Cash flows from investing activities
Purchase of tangible fixed assets (29,605 ) (1,167,603 )
Sale of tangible fixed assets 50,000 -
Interest received 6,442 1,628
Net cash from investing activities 26,837 (1,165,975 )

Cash flows from financing activities
Capital repayments in year (254,242 ) (10,101 )
Refinanced assets 1,050,482 -
Equity dividends paid (2,850,000 ) (1,600,000 )
Net cash from financing activities (2,053,760 ) (1,610,101 )

Increase in cash and cash equivalents 389,272 313,378
Cash and cash equivalents at beginning of
year

2

999,163

685,785

Cash and cash equivalents at end of year 2 1,388,435 999,163

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
(Unaudited)
£    £   
Profit before taxation 3,433,392 3,882,523
Depreciation charges 326,707 68,558
(Profit)/loss on disposal of fixed assets (13,297 ) 109,915
Finance costs 72,924 250
Finance income (6,442 ) (1,628 )
3,813,284 4,059,618
Increase in trade and other debtors (130,918 ) (574,726 )
(Decrease)/increase in trade and other creditors (650,722 ) 145,267
Cash generated from operations 3,031,644 3,630,159

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30/4/24 1/5/23
£    £   
Cash and cash equivalents 1,388,435 999,163
Year ended 30 April 2023
30/4/23 1/5/22
(Unaudited)
£    £   
Cash and cash equivalents 999,163 685,785


GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2024


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other
non-cash
At 1/5/23 Cash flow changes At 30/4/24
£    £    £    £   
Net cash
Cash at bank
and in hand 999,163 389,272 1,388,435
999,163 389,272 1,388,435
Debt
Finance leases - 254,242 (1,556,122 ) (1,301,880 )
- 254,242 (1,556,122 ) (1,301,880 )
Total 999,163 643,514 (1,556,122 ) 86,555

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Genair UK Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.


The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other accounts receivable and payable, cash and bank balances, loans to or from related parties and current asset investments. All such instruments are measured initially and subsequently at the transaction price.

At the end of each reporting period debt financial assets are assessed for impairment, and their carrying value reduced if necessary. Any impairment is recognised in the profit and loss account.


GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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
2024 2023
(Unaudited)
£    £   
Wages and salaries 1,302,454 1,144,313
Social security costs 142,043 127,520
Other pension costs 24,628 21,760
1,469,125 1,293,593

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023
(Unaudited)

Engineer 9 9
Driver 8 8
Yard 2 2
Office 10 9
29 28

2024 2023
(Unaudited)
£    £   
Directors' remuneration 174,837 180,700
Directors' pension contributions to money purchase schemes 1,321 1,321

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
(Unaudited)
£    £   
Other operating leases 128,807 115,739
Depreciation - owned assets 125,537 68,560
Depreciation - assets on hire purchase contracts 201,170 -
(Profit)/loss on disposal of fixed assets (13,297 ) 109,915
Auditors' remuneration 10,000 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
(Unaudited)
£    £   
Hire purchase interest 72,924 250

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
(Unaudited)
£    £   
Current tax:
UK corporation tax 788,075 597,770

Deferred tax (47,161 ) 221,356
Tax on profit 740,914 819,126

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
(Unaudited)
£    £   
Profit before tax 3,433,392 3,882,523
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19.493%)

858,348

756,820

Effects of:
Expenses not deductible for tax purposes 29,838 13,996
Capital allowances in excess of depreciation (2,760 ) -
Depreciation in excess of capital allowances - 48,310
Adjustments to tax charge in respect of previous periods (144,512 ) -
Total tax charge 740,914 819,126

7. DIVIDENDS
2024 2023
(Unaudited)
£    £   
Interim 2,850,000 1,600,000

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 1,157,423 16,427 31,500 20,764 1,226,114
Additions 531,970 1,455 - 1,820 535,245
Disposals (38,959 ) - - - (38,959 )
At 30 April 2024 1,650,434 17,882 31,500 22,584 1,722,400
DEPRECIATION
At 1 May 2023 50,084 8,453 18,486 6,337 83,360
Charge for year 315,891 1,302 3,253 6,261 326,707
Eliminated on disposal (2,256 ) - - - (2,256 )
At 30 April 2024 363,719 9,755 21,739 12,598 407,811
NET BOOK VALUE
At 30 April 2024 1,286,715 8,127 9,761 9,986 1,314,589
At 30 April 2023 1,107,339 7,974 13,014 14,427 1,142,754

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 505,640
Reclassification/transfer 1,050,482
At 30 April 2024 1,556,122
DEPRECIATION
Charge for year 201,170
Reclassification/transfer 44,579
At 30 April 2024 245,749
NET BOOK VALUE
At 30 April 2024 1,310,373

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Trade debtors 2,995,789 2,828,684
Bad debt provision (22,075 ) (2,411 )
Other debtors 6,300 15,500
Prepayments 260,972 268,295
3,240,986 3,110,068

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Hire purchase contracts (see note 12) 292,357 -
Trade creditors 274,754 1,014,765
Amounts owed to group undertakings 2,033 166,259
Corporation tax 428,480 182,930
PAYE & NIC control a/c 37,785 35,492
VAT 320,048 36,603
Other creditors 15,990 86,023
Accrued expenses 54,704 16,894
1,426,151 1,538,966

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
(Unaudited)
£    £   
Hire purchase contracts (see note 12) 1,009,523 -

12. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
(Unaudited
£    £   
Net obligations repayable:
Within one year 292,357 -
Between one and five years 1,009,523 -
1,301,880 -

Non-cancellable operating leases
2024 2023
(Unaudited)
£    £   
Within one year 331,366 372,920
Between one and five years 351,751 551,191
683,117 924,111

GENAIR UK LTD (REGISTERED NUMBER: 06210837)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


13. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
(Unaudited)
£    £   
Hire purchase contracts 1,301,880 -

Obligations under finance leases and hire purchase contracts are secured on specific fixed assets of the company.

Lombard North Central PLC hold a fixed charge over the assets of the company dated 17 January 2017.

14. PROVISIONS FOR LIABILITIES
2024 2023
(Unaudited)
£    £   
Deferred tax 173,980 221,141

Deferred
tax
£   
Balance at 1 May 2023 221,141
Provided during year (47,161 )
Balance at 30 April 2024 173,980

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

16. ULTIMATE PARENT COMPANY

The Leah Jones Group Limited is regarded by the directors as being the company's ultimate parent company.

The Leah Jones Group Limited owns 100% of the issued share capital.

The Leah Jones Group Limited prepares group financial statements. The registered office of The Leah Jones Group Limited is Marston House 5, Elmdon Lane, Marston Green, Solihull, West Midlands, England, B37 7DL.