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REGISTERED NUMBER: 02762764 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Air Handlers (Northern) Limited

Air Handlers (Northern) Limited (Registered number: 02762764)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Air Handlers (Northern) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M G W Higgitt
D N South
Mrs D A Coyle
S Dunleavy





SECRETARY: Mrs D A Coyle





REGISTERED OFFICE: Alfred Proctor House
Bute Street
Salford
Manchester
Greater Manchester
M50 1DU





REGISTERED NUMBER: 02762764 (England and Wales)





ACCOUNTANTS: TF & Partners Ltd t/a Hatherlows
Chartered Accountants
The Studio, Hatherlow House
Hatherlow
Romiley
Stockport
Cheshire
SK6 3DY

Air Handlers (Northern) Limited (Registered number: 02762764)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,362,957 2,464,558
2,362,957 2,464,558

CURRENT ASSETS
Stocks 658,671 668,180
Debtors 7 1,014,530 819,683
Cash at bank and in hand 1,080,046 945,050
2,753,247 2,432,913
CREDITORS
Amounts falling due within one year 8 1,376,146 1,584,699
NET CURRENT ASSETS 1,377,101 848,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,740,058

3,312,772

CREDITORS
Amounts falling due after more than one
year

9

-

(303,427

)

PROVISIONS FOR LIABILITIES (96,767 ) -
NET ASSETS 3,643,291 3,009,345

CAPITAL AND RESERVES
Called up share capital 550 550
Revaluation reserve 11 894,646 924,467
Capital redemption reserve 150 150
Retained earnings 2,747,945 2,084,178
SHAREHOLDERS' FUNDS 3,643,291 3,009,345

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.

Air Handlers (Northern) Limited (Registered number: 02762764)

Statement of Financial Position - continued
31 March 2024


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 23 August 2024 and were signed on its behalf by:





M G W Higgitt - Director


Air Handlers (Northern) Limited (Registered number: 02762764)

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


1. STATUTORY INFORMATION

Air Handlers (Northern) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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, excluding discounts, rebates, value added tax and other sales taxes.

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 and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


Air Handlers (Northern) Limited (Registered number: 02762764)

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


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2023 - 53 ) .

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Air Handlers (Northern) Limited (Registered number: 02762764)

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


6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,950,000 894,267 243,277 91,183 3,178,727
Additions - 52,755 28,518 - 81,273
At 31 March 2024 1,950,000 947,022 271,795 91,183 3,260,000
DEPRECIATION
At 1 April 2023 - 458,777 181,072 74,320 714,169
Charge for year 62,903 106,246 10,362 3,363 182,874
At 31 March 2024 62,903 565,023 191,434 77,683 897,043
NET BOOK VALUE
At 31 March 2024 1,887,097 381,999 80,361 13,500 2,362,957
At 31 March 2023 1,950,000 435,490 62,205 16,863 2,464,558

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2003 257,531 - - - 257,531
Valuation in 2007 339,933 - - - 339,933
Valuation in 2010 (462,000 ) - - - (462,000 )
Valuation in 2023 329,020 - - - 329,020
Cost 1,485,516 947,022 271,795 91,183 2,795,516
1,950,000 947,022 271,795 91,183 3,260,000

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,485,516 1,485,516
Aggregate depreciation 464,589 436,992

Value of land in freehold land and buildings 193,000 193,000

Freehold land and buildings were valued on an open market value basis on 27 July 2015 by Chapman Law Chartered Surveyors .

Air Handlers (Northern) Limited (Registered number: 02762764)

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


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 41,927
DEPRECIATION
At 1 April 2023
and 31 March 2024 21,122
NET BOOK VALUE
At 31 March 2024 20,805
At 31 March 2023 20,805

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 949,629 746,433
Other debtors 64,901 73,250
1,014,530 819,683

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 38,415
Hire purchase contracts - 93,255
Trade creditors 552,589 875,250
Taxation and social security 337,802 166,689
Other creditors 485,755 411,090
1,376,146 1,584,699

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 232,725
Hire purchase contracts - 70,702
- 303,427

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years - 73,907

Air Handlers (Northern) Limited (Registered number: 02762764)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 271,140
Hire purchase contracts - 163,957
- 435,097

Bank loans and overdrafts are secured by a mortgage dated 26 March 2014 creating a fixed charge over the company's freehold property and a floating charge over all other property and undertakings.

Hire purchase balances are secured on the assets to which they relate.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023 924,467
Profit & loss account transfer (29,821 )

At 31 March 2024 894,646

12. POST BALANCE SHEET EVENTS

The financial statements were authorised for issue by the board of directors on 23 August 2024.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by D and B Pinchbeck acting in concert.