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AEROFACT (UK) LIMITED

Registered Number
05671308
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

AEROFACT (UK) LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

OTTERBURN, David
OTTERBURN, Lynley Heather, Dr

Company Secretary

OTTERBURN, David

Registered Address

Honeysuckle Cottage Olley Road
West Runton
Cromer
NR27 9QN

Registered Number

05671308 (England and Wales)
AEROFACT (UK) LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets47,5856,574
7,5856,574
Current assets
Stocks51,5121,446
Debtors7,1457,145
Cash at bank and on hand38,44850,368
47,10558,959
Creditors amounts falling due within one year6(53,390)(58,807)
Net current assets (liabilities)(6,285)152
Total assets less current liabilities1,3006,726
Net assets1,3006,726
Capital and reserves
Called up share capital1010
Profit and loss account1,2906,716
Shareholders' funds1,3006,726
The financial statements were approved and authorised for issue by the Board of Directors on 23 October 2024, and are signed on its behalf by:
OTTERBURN, Lynley Heather, Dr
Director
Registered Company No. 05671308
AEROFACT (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
The goodwill of the company on the purchase of the business has been fully amortised over 5 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 2370,00070,000
At 31 January 2470,00070,000
Amortisation and impairment
At 01 February 2370,00070,000
At 31 January 2470,00070,000
Net book value
At 31 January 24--
At 31 January 23--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 February 2322,89322,893
Additions5,8535,853
At 31 January 2428,74628,746
Depreciation and impairment
At 01 February 2316,31916,319
Charge for year4,8424,842
At 31 January 2421,16121,161
Net book value
At 31 January 247,5857,585
At 31 January 236,5746,574
5.Stocks

2024

2023

££
Finished goods1,5121,446
Total1,5121,446
6.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties26,02932,760
Taxation and social security5,93910,262
Other creditors1,11874
Accrued liabilities and deferred income20,30415,711
Total53,39058,807
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.