REGISTERED NUMBER: |
Airfi Networks Services Limited |
Financial Statements |
for the period |
1 January 2023 to 31 March 2024 |
REGISTERED NUMBER: |
Airfi Networks Services Limited |
Financial Statements |
for the period |
1 January 2023 to 31 March 2024 |
Airfi Networks Services Limited (Registered number: 10701547) |
Contents of the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Airfi Networks Services Limited |
Company Information |
for the period 1 January 2023 to 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Airfi Networks Services Limited (Registered number: 10701547) |
Balance Sheet |
31 March 2024 |
2024 | 2022 |
Notes | $ | $ | $ | $ |
Fixed assets |
Intangible assets | 4 |
Current assets |
Debtors | 5 |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Airfi Networks Services Limited (Registered number: 10701547) |
Notes to the Financial Statements |
for the period 1 January 2023 to 31 March 2024 |
1. | Statutory information |
Airfi Networks Services 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 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 accounts are presented in US Dollars ($). |
Amounts in these financial statements are rounded to the nearest $. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Research and development |
Expenditure in connection with research activities is charged in the period in which it is incurred. Development costs are capitalised to the extent that they can be attributed directly to a specific project, where the project's technical and commercial feasibility have been proved and there is reasonable probability that the development activity will generate future economic benefits. The capitalised development costs comprise all costs directly attributable to the development process. Capitalised development costs are reviewed annually for impairment and, in the opinion of the directors, the value is not less than that stated in the financial statements. Development costs are amortised over 4 years and are considered to be disposed of when they are fully amortised. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US Dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | Employees and directors |
The average number of employees during the period was |
Airfi Networks Services Limited (Registered number: 10701547) |
Notes to the Financial Statements - continued |
for the period 1 January 2023 to 31 March 2024 |
4. | Intangible fixed assets |
Development |
costs |
$ |
Cost |
At 1 January 2023 |
Additions |
Exchange differences |
At 31 March 2024 |
Amortisation |
At 1 January 2023 |
Amortisation for period |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 December 2022 |
5. | Debtors: amounts falling due within one year |
2024 | 2022 |
$ | $ |
Tax |
6. | Creditors: amounts falling due within one year |
2024 | 2022 |
$ | $ |
Amounts owed to group undertakings |
Social security and other taxes |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2022 |
value: | $ | $ |
Ordinary | £1 | 1 | 1 |
8. | Reserves |
Retained |
earnings |
$ |
At 1 January 2023 | ( |
) |
Deficit for the period | ( |
) |
Foreign exchange movements | (180,137 | ) |
At 31 March 2024 | ( |
) |