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REGISTERED NUMBER: 03183992 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Airnesco Group Ltd

Airnesco Group Ltd (Registered number: 03183992)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Airnesco Group Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs J M Parker-Smith
Mrs S J Grant





SECRETARY: Mrs J M Parker-Smith





REGISTERED OFFICE: Woodcock Farm
Woodcock Lane
Grafty Green
Maidstone
ME17 2AY





REGISTERED NUMBER: 03183992 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Airnesco Group Ltd (Registered number: 03183992)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,392 13,101
Tangible assets 5 1,749,006 1,737,555
1,768,398 1,750,656

CURRENT ASSETS
Stocks 226,292 201,589
Debtors 6 376,030 294,684
Cash at bank 839,175 133,940
1,441,497 630,213
CREDITORS
Amounts falling due within one year 7 1,267,860 550,308
NET CURRENT ASSETS 173,637 79,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,942,035

1,830,561

CREDITORS
Amounts falling due after more than one
year

8

(270,353

)

(300,370

)

PROVISIONS FOR LIABILITIES (24,776 ) (16,654 )
NET ASSETS 1,646,906 1,513,537

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Other reserves 390,515 390,515
Retained earnings 1,246,391 1,113,022
1,646,906 1,513,537

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

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

Airnesco Group Ltd (Registered number: 03183992)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





Mrs S J Grant - Director


Airnesco Group Ltd (Registered number: 03183992)

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

1. STATUTORY INFORMATION

Airnesco Group 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable of the company manufacture of specialised cleaning equipment activities and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

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.

Patents are being amortised evenly over their estimated useful life of seven years.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Freehold property - not provided
Improvements to property - 2% on cost
Plant and machinery - 10% on cost and between 5 and 12 years

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Airnesco Group Ltd (Registered number: 03183992)

Notes to the Financial Statements - continued
for the Year Ended 31 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Airnesco Group Ltd (Registered number: 03183992)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 29,278
Additions 6,456
At 31 December 2023 35,734
AMORTISATION
At 1 January 2023 16,177
Charge for year 165
At 31 December 2023 16,342
NET BOOK VALUE
At 31 December 2023 19,392
At 31 December 2022 13,101

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 1,649,903 141,332 23,078 1,814,313
Additions - 13,741 30,250 43,991
At 31 December 2023 1,649,903 155,073 53,328 1,858,304
DEPRECIATION
At 1 January 2023 - 73,681 3,077 76,758
Charge for year - 27,924 4,616 32,540
At 31 December 2023 - 101,605 7,693 109,298
NET BOOK VALUE
At 31 December 2023 1,649,903 53,468 45,635 1,749,006
At 31 December 2022 1,649,903 67,651 20,001 1,737,555

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2022 832,971 - - 832,971
Cost 816,932 155,073 53,328 1,025,333
1,649,903 155,073 53,328 1,858,304

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 816,932 816,932

Freehold land and buildings were valued on an open market basis on 31 December 2023 by the directors. .

Airnesco Group Ltd (Registered number: 03183992)

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

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 48,161 68,142
Other debtors 307,043 205,476
355,204 273,618

Amounts falling due after more than one year:
Other debtors 20,826 21,066

Aggregate amounts 376,030 294,684

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 49,528 43,549
Trade creditors 78,064 58,423
Amounts owed to group undertakings 268,584 358,829
Taxation and social security 51,502 34,399
Other creditors 820,182 55,108
1,267,860 550,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 270,353 300,370

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 113,672 113,672

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs S J Grant
Balance outstanding at start of year 169,921 131,767
Amounts advanced 148,204 108,154
Amounts repaid (70,000 ) (70,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 248,125 169,921

Mrs J M Parker-Smith
Balance outstanding at start of year (1,690 ) 2,122
Amounts advanced 9,365 9,188
Amounts repaid (13,000 ) (13,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,325 ) (1,690 )

The maximum amount outstanding during the year and due to the company by the directors was £248,125 (2022 - £169,921). No interest was paid during the year on this balance.