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REGISTERED NUMBER: 01536863 (England and Wales)












Financial Statements

for the Year Ended 31st December 2023

for

The Air Group Limited

The Air Group Limited (Registered number: 01536863)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Air Group Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: J D Codling
N J S Randall





REGISTERED OFFICE: Leys Stables
Old Bix Road
Henley on Thames
Oxfordshire
RG9 6BY





REGISTERED NUMBER: 01536863 (England and Wales)





ACCOUNTANTS: Buffery & Co Ltd
2 West Street
Henley On Thames
Oxfordshire
RG9 2DU

The Air Group Limited (Registered number: 01536863)

Abridged Balance Sheet
31st December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 893,790 872,304
Investments 5 8,063,894 7,738,101
8,957,684 8,610,405

CURRENT ASSETS
Stocks 7,269,843 2,003,341
Debtors: amounts falling due within one year 1,377,684 1,360,678
Debtors: amounts falling due after more than
one year

6

2,115,137

2,103,376
Investments 1,200 1,200
Cash at bank and in hand 2,172,590 6,507,849
12,936,454 11,976,444
CREDITORS
Amounts falling due within one year 539,667 116,425
NET CURRENT ASSETS 12,396,787 11,860,019
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,354,471

20,470,424

CREDITORS
Amounts falling due after more than one
year

11,876,413

10,902,017
NET ASSETS 9,478,058 9,568,407

CAPITAL AND RESERVES
Called up share capital 8 2,475,000 2,475,000
Share premium 9 2,970,000 2,970,000
Revaluation reserve 9 767,128 778,079
Retained earnings 9 3,265,930 3,345,328
SHAREHOLDERS' FUNDS 9,478,058 9,568,407

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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 Air Group Limited (Registered number: 01536863)

Abridged Balance Sheet - continued
31st December 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 6th September 2024 and were signed on its behalf by:





N J S Randall - Director


The Air Group Limited (Registered number: 01536863)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

The Air Group 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.

Changes in accounting policies
The measurement basis of investments in subsidiaries has been changed from cost less impairment to fair value through the profit and loss.

The directors believe that this provides more reliable and relevant information, as the carrying amount reflects market movements.

This change in accounting policy has been applied retrospectively and the relevant figures re-instated.

A summary of the impact of the changes is as follows:



Year To 31
December
2022
Year To 31
December
2022
Year To 31
December
2021
Profit and Loss Account Items:
Revaluation gain/ (loss) on subsidiaries and other
participating interests

-£10,951

+£8,721

+680,402
Profit before taxation-£10,951+£8,721+680,402
Profit for the financial year-£10,951+£8,721+680,402

Balance Sheet Items:
Investments-£10,951+£8,721+680,402
Revaluation reserve-£10,951+£8,721+680,402

Turnover
Turnover represents amounts receivable for goods and services net of VAT

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of each asset over its expected useful life, as follows:

Land & Buildings (Leasehold ) 20% straight line
Computer equipment 33% straight line
Fixtures & fittings 33% straight line
Motor Vehicles 33% straight line

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads. Appropriate provision is made for any foreseeable losses. No element of profit is included in the valuation of work in progress.


The Air Group Limited (Registered number: 01536863)

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

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.

Investments
Fixed asset investments are stated at their quoted market value. Where a quoted valuation does not exist, the investments are valued at the lower of cost and the directors' opinion of market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 955,644
Additions 43,194
At 31st December 2023 998,838
DEPRECIATION
At 1st January 2023 83,340
Charge for year 21,708
At 31st December 2023 105,048
NET BOOK VALUE
At 31st December 2023 893,790
At 31st December 2022 872,304

The Air Group Limited (Registered number: 01536863)

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

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2023 6,868,120
Additions 1,025,482
Disposals (687,739 )
At 31st December 2023 7,205,863
PROVISIONS
At 1st January 2023 (869,981 )
Charge for year 11,950
At 31st December 2023 (858,031 )
NET BOOK VALUE
At 31st December 2023 8,063,894
At 31st December 2022 7,738,101

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed by AGRL 2,115,137 2,103,376

7. SECURED DEBTS

Bank overdraft facility with Lloyds Bank PLC. There is a fixed and floating charge over the assets of the company to secure this liability.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
300,000 Ordinary Shares £1 300,000 300,000
2,175,000 Preference £1 2,175,000 2,175,000
2,475,000 2,475,000

9. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st January 2023 3,345,328 2,970,000 778,079 7,093,407
Deficit for the year (79,398 ) (79,398 )
Movement in Investments - - (10,951 ) (10,951 )
At 31st December 2023 3,265,930 2,970,000 767,128 7,003,058

The Air Group Limited (Registered number: 01536863)

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

10. RELATED PARTY DISCLOSURES

At the year end, the company owed Mr NJS Randall £4,393,912 (2022 - £3,419,516.15) in respect of his directors loan account. The full amount has been included in long term creditors.

At the year end, the company owed £7,482,501 (2022 - £7,482,501) to its parent company, Roman Rentals 012 Limited. The full amount has been included in long term creditors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is N J S Randall.