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REGISTERED NUMBER: 04374520 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Air Technical Services Limited

Air Technical Services Limited (Registered number: 04374520)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Air Technical Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr A J Rossides
Mrs D J Rossides





SECRETARY: Mr A J Rossides





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: Unit 85
Hillgrove Business Park
Nazeing Road
Nazeing
Essex
EN9 2HB





REGISTERED NUMBER: 04374520 (England and Wales)

Air Technical Services Limited (Registered number: 04374520)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 84,097 38,484

CURRENT ASSETS
Stocks 15,390 4,302
Debtors 6 72,734 93,437
Cash at bank 104,566 74,994
192,690 172,733
CREDITORS
Amounts falling due within one year 7 185,538 173,274
NET CURRENT ASSETS/(LIABILITIES) 7,152 (541 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,249

37,943

CREDITORS
Amounts falling due after more than one year 8 (59,640 ) (14,240 )

PROVISIONS FOR LIABILITIES (15,978 ) (9,010 )
NET ASSETS 15,631 14,693

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 15,531 14,593
15,631 14,693

Air Technical Services Limited (Registered number: 04374520)

Balance Sheet - continued
31 March 2024


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.

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 13 November 2024 and were signed on its behalf by:




Mr A J Rossides - Director



Mrs D J Rossides - Director


Air Technical Services Limited (Registered number: 04374520)

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


1. STATUTORY INFORMATION

Air Technical Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 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.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


Air Technical Services Limited (Registered number: 04374520)

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


3. 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.

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 3 (2023 - 3 ) .

Air Technical Services Limited (Registered number: 04374520)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 93,134
Additions 73,644
At 31 March 2024 166,778
DEPRECIATION
At 1 April 2023 54,650
Charge for year 28,031
At 31 March 2024 82,681
NET BOOK VALUE
At 31 March 2024 84,097
At 31 March 2023 38,484

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 71,340
At 31 March 2024 71,340
DEPRECIATION
Charge for year 17,835
At 31 March 2024 17,835
NET BOOK VALUE
At 31 March 2024 53,505

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 55,278 84,722
Other debtors 17,456 8,715
72,734 93,437

Air Technical Services Limited (Registered number: 04374520)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,400 5,110
Hire purchase contracts (see note 9) 9,563 -
Trade creditors 14,681 8,416
Taxation and social security 31,827 45,695
Other creditors 124,067 114,053
185,538 173,274

Included within other creditors disclosed above is a balance of £397 (2023 - £245) in relation to accruals, a balance of £255 (2023 - £257) in relation to Pension contribution, and a balance of £123,415 (2023 - £113,551) in relation to directors loan accounts.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,550 14,240
Hire purchase contracts (see note 9) 51,090 -
59,640 14,240

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,563 -
Between one and five years 51,090 -
60,653 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 45,900 3,000
Between one and five years 19,125 -
65,025 3,000