IRIS Accounts Production v24.1.0.578 07716244 director 1.9.22 31.8.23 31.8.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077162442022-08-31077162442023-08-31077162442022-09-012023-08-31077162442021-08-31077162442021-09-012022-08-31077162442022-08-3107716244ns15:EnglandWales2022-09-012023-08-3107716244ns14:PoundSterling2022-09-012023-08-3107716244ns10:Director12022-09-012023-08-3107716244ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3107716244ns10:SmallEntities2022-09-012023-08-3107716244ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3107716244ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3107716244ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3107716244ns10:FullAccounts2022-09-012023-08-3107716244ns10:OrdinaryShareClass12022-09-012023-08-3107716244ns10:CompanySecretary12022-09-012023-08-3107716244ns10:RegisteredOffice2022-09-012023-08-3107716244ns5:CurrentFinancialInstruments2023-08-3107716244ns5:CurrentFinancialInstruments2022-08-3107716244ns5:Non-currentFinancialInstruments2023-08-3107716244ns5:Non-currentFinancialInstruments2022-08-3107716244ns5:ShareCapital2023-08-3107716244ns5:ShareCapital2022-08-3107716244ns5:RetainedEarningsAccumulatedLosses2023-08-3107716244ns5:RetainedEarningsAccumulatedLosses2022-08-3107716244ns5:FurnitureFittings2022-08-3107716244ns5:ComputerEquipment2022-08-3107716244ns5:FurnitureFittings2022-09-012023-08-3107716244ns5:ComputerEquipment2022-09-012023-08-3107716244ns5:FurnitureFittings2023-08-3107716244ns5:ComputerEquipment2023-08-3107716244ns5:FurnitureFittings2022-08-3107716244ns5:ComputerEquipment2022-08-3107716244ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3107716244ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3107716244ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-3107716244ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-08-3107716244ns10:OrdinaryShareClass12023-08-3107716244ns5:RetainedEarningsAccumulatedLosses2022-08-3107716244ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-31
REGISTERED NUMBER: 07716244 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

AIR FIRST LTD

AIR FIRST LTD (REGISTERED NUMBER: 07716244)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AIR FIRST LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: Mrs C B Munford





SECRETARY: Mrs C B Munford





REGISTERED OFFICE: 1 & 2 Studley Court Mews
Studley Court
Guildford road
Chobham
Surrey
GU24 8EB





REGISTERED NUMBER: 07716244 (England and Wales)





ACCOUNTANTS: THB LLP
1 & 2 Studley Court Mews
Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB

AIR FIRST LTD (REGISTERED NUMBER: 07716244)

Balance Sheet
31 August 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,991 2,240

CURRENT ASSETS
Debtors 5 23,976 19,310
Cash in hand 2,397 836
26,373 20,146
CREDITORS
Amounts falling due within one year 6 530,290 411,323
NET CURRENT LIABILITIES (503,917 ) (391,177 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(501,926

)

(388,937

)

CREDITORS
Amounts falling due after more than one
year

7

21,667

27,500
NET LIABILITIES (523,593 ) (416,437 )

CAPITAL AND RESERVES
Called up share capital 9 500 500
Retained earnings 10 (524,093 ) (416,937 )
SHAREHOLDERS' FUNDS (523,593 ) (416,437 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

AIR FIRST LTD (REGISTERED NUMBER: 07716244)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2024 and were signed by:





Mrs C B Munford - Director


AIR FIRST LTD (REGISTERED NUMBER: 07716244)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Air First 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.

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.

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.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022 5,229 5,194 10,423
Additions - 439 439
At 31 August 2023 5,229 5,633 10,862
DEPRECIATION
At 1 September 2022 4,655 3,528 8,183
Charge for year 162 526 688
At 31 August 2023 4,817 4,054 8,871
NET BOOK VALUE
At 31 August 2023 412 1,579 1,991
At 31 August 2022 574 1,666 2,240

AIR FIRST LTD (REGISTERED NUMBER: 07716244)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade debtors 12,208 11,056
Other debtors Loan 11,768 8,254
23,976 19,310

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Bank loans and overdrafts (see note 8) 38,516 30,511
Trade creditors 159,117 152,391
Tax 200 -
Social security and other taxes 7,534 7,474
VAT 4,577 9,135
Payment on account 249,629 200,184
Company credit card 250 250
Other creditors loan 59,044 -
Directors' current accounts 5,978 7,810
Accrued expenses 5,445 3,568
530,290 411,323

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/23 31/8/22
£    £   
Bank loans (see note 8) 21,667 27,500

8. LOANS

An analysis of the maturity of loans is given below:

31/8/23 31/8/22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 28,516 20,511
Bank loans 10,000 10,000
38,516 30,511

Amounts falling due between two and five years:
Bank loans - 2-5 years 21,667 27,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/23 31/8/22
value: £    £   
500 Ordinary £1 500 500

AIR FIRST LTD (REGISTERED NUMBER: 07716244)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. RESERVES
Retained
earnings
£   

At 1 September 2022 (416,937 )
Deficit for the year (107,156 )
At 31 August 2023 (524,093 )

11. RELATED PARTY DISCLOSURES

At the end of the year the company owed an amount of £5,978 [2022 : £7,810] to its director.