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Registered number: 06235248









AIRPORT CAPACITY SOLUTIONS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 NOVEMBER 2023

 
AIRPORT CAPACITY SOLUTIONS LIMITED
REGISTERED NUMBER: 06235248

BALANCE SHEET
AS AT 30 NOVEMBER 2023

30 November
31 July
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
7,243
16,990

  
7,243
16,990

Current assets
  

Debtors: amounts falling due within one year
 6 
253,268
727,149

Cash at bank and in hand
 7 
23,757
352,882

  
277,025
1,080,031

Creditors: amounts falling due within one year
 8 
(1,385,092)
(832,988)

Net current (liabilities)/assets
  
 
 
(1,108,067)
 
 
247,043

Total assets less current liabilities
  
(1,100,824)
264,033

Creditors: amounts falling due after more than one year
 9 
(121,813)
(187,155)

  

Net (liabilities)/assets
  
(1,222,637)
76,878


Capital and reserves
  

Called up share capital 
 11 
2
2

Profit and loss account
  
(1,222,639)
76,876

  
(1,222,637)
76,878


Page 1

 
AIRPORT CAPACITY SOLUTIONS LIMITED
REGISTERED NUMBER: 06235248
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




H F Smith
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

1.


General information

Airport Capacity Solutions Limited is a private company, limited by shares, domiciled in England and Wales, registration number 06235248. The registered office is 8 Stepfield, Witham, Essex, England, CM8 3TH. The nature of company's operation and principal activity is sale and installation of modular Turnkey system.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in pounds sterling which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis as the Directors have considered the performence of the Company for a period of at least 12 months from the approval of the financial statements and deem the available cash and other resources sufficient to fund its activities. The parent company, Trad Properties Limited Group, are capable of providing group support.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

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

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 6

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

IIn applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements,estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
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, if the revision affects only that
period, or in the period of the revision and future periods, if the revision affects both current and future
periods.
The directors do not believe that there have been judgements (apart from those involving estimates) made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.


4.


Employees

The average monthly number of employees, including directors, during the period was 4 (2022 - 4).

Page 7

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets







Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 August 2022
49,110
16,678
5,857
71,645


Additions
-
3,276
-
3,276


Disposals
(24,211)
-
(532)
(24,743)



At 30 November 2023

24,899
19,954
5,325
50,178



Depreciation


At 1 August 2022
32,120
16,678
5,857
54,655


Charge for the period on owned assets
11,831
183
-
12,014


Disposals
(23,202)
-
(532)
(23,734)



At 30 November 2023

20,749
16,861
5,325
42,935



Net book value



At 30 November 2023
4,150
3,093
-
7,243



At 31 July 2022
16,990
-
-
16,990

Page 8

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

6.


Debtors

30 November
31 July
2023
2022
£
£


Trade debtors
48,970
6,432

Other debtors
53,098
201,538

Prepayments and accrued income
151,200
519,179

253,268
727,149



7.


Cash and cash equivalents

30 November
31 July
2023
2022
£
£

Cash at bank and in hand
23,757
352,882

23,757
352,882



8.


Creditors: Amounts falling due within one year

30 November
31 July
2023
2022
£
£

Bank loans
60,565
142,039

Trade creditors
44,588
176,353

Amounts owed to group undertakings
1,031,335
-

Other taxation and social security
5,539
251,682

Other creditors
13,177
243,911

Accruals and deferred income
229,888
19,003

1,385,092
832,988


The bank loan is secured by a fixed and floating charge over the assets of the Company. 

Page 9

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

9.


Creditors: Amounts falling due after more than one year

30 November
31 July
2023
2022
£
£

Bank loans
121,813
187,155

121,813
187,155


The bank loan is secured by a fixed and floating charge over the assets of the Company. 


10.


Loans


Analysis of the maturity of loans is given below:


30 November
31 July
2023
2022
£
£

Amounts falling due within one year

Bank loans
60,565
142,039

Amounts falling due 1-2 years

Bank loans
66,972
187,155

Amounts falling due 2-5 years

Bank loans
54,840
-

182,377
329,194



11.


Share capital

30 November
31 July
2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary Shares shares of £1.00 each
2
2


Page 10

 
AIRPORT CAPACITY SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023

12.


Pension commitments

The Company operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the Company in an independently administered fund.  The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,878 (2022: £ 13,321).  Contributions totalling £nil (2022: £44) were payable to the fund at the balance sheet date and are included in creditors. 


13.


Related party transactions

At the year end, £1,031,335 (2022: £nil) was due to the parent company. 
At the year end, £2,737 (2022: -£1,662) was due from key management.
During the year the company incurred group recharges from the parent company of £445,580 (2022: £nil).


14.


Controlling party

The immediate parent company is Texo Group Limited, a company incorporated in England and Wales.  
The ultimate parent company is Trad Properties LLP, a limited liability partnership incorporated in England and Wales. 

Trad Properties LLP is controlled by the Trustees of Trad Scaffolding Co Limited (H F Smith) FURBS and H F Smith is the controlling Trustee.



15.


Auditors' information

The auditors' report on the financial statements for the period ended 30 November 2023 was unqualified.

The audit report was signed on 29 August 2024 by Matthew Wells ACA (Senior statutory auditor) on behalf of Haslers.

 
Page 11