Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01false62012 - Business and domestic software development11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09374385 2023-02-01 2024-01-31 09374385 2024-01-31 09374385 2022-02-01 2023-01-31 09374385 2023-01-31 09374385 c:Director1 2023-02-01 2024-01-31 09374385 d:OfficeEquipment 2023-02-01 2024-01-31 09374385 d:OfficeEquipment 2024-01-31 09374385 d:OfficeEquipment 2023-01-31 09374385 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09374385 d:ComputerEquipment 2023-02-01 2024-01-31 09374385 d:ComputerEquipment 2024-01-31 09374385 d:ComputerEquipment 2023-01-31 09374385 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09374385 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09374385 d:ComputerSoftware 2024-01-31 09374385 d:ComputerSoftware 2023-01-31 09374385 d:CurrentFinancialInstruments 2024-01-31 09374385 d:CurrentFinancialInstruments 2023-01-31 09374385 d:Non-currentFinancialInstruments 2024-01-31 09374385 d:Non-currentFinancialInstruments 2023-01-31 09374385 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09374385 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09374385 d:ShareCapital 2024-01-31 09374385 d:ShareCapital 2023-01-31 09374385 d:RetainedEarningsAccumulatedLosses 2024-01-31 09374385 d:RetainedEarningsAccumulatedLosses 2023-01-31 09374385 c:FRS102 2023-02-01 2024-01-31 09374385 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09374385 c:FullAccounts 2023-02-01 2024-01-31 09374385 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09374385 d:ComputerSoftware d:OwnedIntangibleAssets 2023-02-01 2024-01-31 09374385 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 09374385


AIRPORTLABS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
AIRPORTLABS LTD
REGISTERED NUMBER: 09374385

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
73,883

Tangible assets
 5 
4,714
6,233

  
4,714
80,116

Current assets
  

Debtors: amounts falling due after more than one year
 6 
183,358
47,384

Debtors: amounts falling due within one year
 6 
2,669,053
1,698,381

Cash at bank and in hand
 7 
547,759
836,137

  
3,400,170
2,581,902

Creditors: amounts falling due within one year
 8 
(412,173)
(288,350)

Net current assets
  
 
 
2,987,997
 
 
2,293,552

Total assets less current liabilities
  
2,992,711
2,373,668

  

Net assets
  
2,992,711
2,373,668


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,992,710
2,373,667

  
2,992,711
2,373,668


Page 1

 
AIRPORTLABS LTD
REGISTERED NUMBER: 09374385
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 by: 




................................................
L Uiorean
Director

Date: 22 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

AirportLabs Limited is a private limited company which is incorporated and domiciled in the UK.             The registered office address is 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ.

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 following principal accounting policies have been applied:

 
2.2

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

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:

Office equipment
-
Over 4 years
Equipment
-
Over 4 years

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Page 5

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Computer software

£



Cost


At 1 February 2023
403,000



At 31 January 2024

403,000



Amortisation


At 1 February 2023
329,117


Charge for the year on owned assets
73,883



At 31 January 2024

403,000



Net book value



At 31 January 2024
-



At 31 January 2023
73,883



Page 6

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
3,846
32,386
36,232


Additions
415
1,893
2,308



At 31 January 2024

4,261
34,279
38,540



Depreciation


At 1 February 2023
2,260
27,739
29,999


Charge for the year on owned assets
979
2,848
3,827



At 31 January 2024

3,239
30,587
33,826



Net book value



At 31 January 2024
1,022
3,692
4,714



At 31 January 2023
1,586
4,647
6,233


6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
183,358
47,384

183,358
47,384


2024
2023
£
£

Due within one year

Trade debtors
288,178
707,191

Other debtors
2,080,321
825,088

Prepayments and accrued income
300,554
166,102

2,669,053
1,698,381


Page 7

 
AIRPORTLABS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
547,759
836,137

547,759
836,137



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
18,398
3,067

Other taxation and social security
17,307
2,790

Other creditors
11,707
4,750

Accruals and deferred income
364,761
277,743

412,173
288,350



9.


Related party transactions

Included within other creditors is an amount of £11,707 (2023: £4,750) due to Mr L Uiorean, a director of AirportLabs Limited.
The balance is interest free and there is no fixed date for repayment.
Included within other debtors is an amount of £2,080,321 (2023: £730,321) due from Aviation Labs Technologies, a company which has the same director as AirportLabs Limited.
The balance is interest free and there is no fixed date for payment. 


10.


Controlling party

The ultimate controlling party for AirportLabs Limited is Mr L Uiorean by his 100% shareholding.
 
Page 8