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REGISTERED NUMBER: 06493200 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Altair Associates Ltd

Altair Associates Ltd (Registered number: 06493200)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Altair Associates Ltd (Registered number: 06493200)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 696,606 708,832

CURRENT ASSETS
Cash at bank 2,060 222

CREDITORS
Amounts falling due within one year 5 457,032 457,927
NET CURRENT LIABILITIES (454,972 ) (457,705 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,634

251,127

CREDITORS
Amounts falling due after more than one
year

6

309,472

320,047
NET LIABILITIES (67,838 ) (68,920 )

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings (67,908 ) (68,990 )
(67,838 ) (68,920 )

Altair Associates Ltd (Registered number: 06493200)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 22 August 2024 and were signed on its behalf by:





F J Francis - Director


Altair Associates Ltd (Registered number: 06493200)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Altair Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06493200

Registered office: 38C Priest Hill
Caversham
Reading
Berkshire
RG4 7RY

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 have been prepared on a going concern basis. Net current liabilities includes money loaned to the company by the directors in the sum of £431,131 which will only be repaid as funds allow and does not therefore affect the going concern basis.

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.
Land and buildings - 2% Straight line
Plant and machinery etc - 10% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

Altair Associates Ltd (Registered number: 06493200)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 718,874 19,504 738,378
Additions - 102 102
At 31 March 2024 718,874 19,606 738,480
DEPRECIATION
At 1 April 2023 25,943 3,603 29,546
Charge for year 10,377 1,951 12,328
At 31 March 2024 36,320 5,554 41,874
NET BOOK VALUE
At 31 March 2024 682,554 14,052 696,606
At 31 March 2023 692,931 15,901 708,832

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,323 8,961
Taxation and social security 615 337
Other creditors 447,094 448,629
457,032 457,927

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 309,472 318,795
Other creditors - 1,252
309,472 320,047