PTP Accounts Production v24.3.0.553 11472744 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114727442023-03-31114727442024-03-31114727442023-04-012024-03-31114727442022-03-31114727442022-04-012023-03-31114727442023-03-3111472744ns15:EnglandWales2023-04-012024-03-3111472744ns14:PoundSterling2023-04-012024-03-3111472744ns10:Director12023-04-012024-03-3111472744ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111472744ns10:SmallEntities2023-04-012024-03-3111472744ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111472744ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111472744ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111472744ns10:FullAccounts2023-04-012024-03-3111472744ns10:OrdinaryShareClass12023-04-012024-03-3111472744ns10:Director22023-04-012024-03-3111472744ns10:RegisteredOffice2023-04-012024-03-3111472744ns5:CurrentFinancialInstruments2024-03-3111472744ns5:CurrentFinancialInstruments2023-03-3111472744ns5:Non-currentFinancialInstruments2024-03-3111472744ns5:Non-currentFinancialInstruments2023-03-3111472744ns5:ShareCapital2024-03-3111472744ns5:ShareCapital2023-03-3111472744ns5:RetainedEarningsAccumulatedLosses2024-03-3111472744ns5:RetainedEarningsAccumulatedLosses2023-03-3111472744ns5:FurnitureFittings2023-04-012024-03-3111472744ns5:FurnitureFittings2024-03-3111472744ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111472744ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3111472744ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3111472744ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3111472744ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 11472744 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

AIRWELL LIMITED

AIRWELL LIMITED (REGISTERED NUMBER: 11472744)






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


AIRWELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: MAJ Hope
AC Kershaw





REGISTERED OFFICE: Hope Chapel House
Hope Chapel Hill
Bristol
BS8 4ND





REGISTERED NUMBER: 11472744 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,800 -
Investment property 5 1,025,000 1,005,000
1,041,800 1,005,000

CURRENT ASSETS
Debtors 6 31,384 10,068
Cash at bank 15,901 15,351
47,285 25,419
CREDITORS
Amounts falling due within one year 7 (519,180 ) (494,889 )
NET CURRENT LIABILITIES (471,895 ) (469,470 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

569,905

535,530

CREDITORS
Amounts falling due after more than one
year

8

(442,339

)

(453,604

)

PROVISIONS FOR LIABILITIES (19,940 ) (14,940 )
NET ASSETS 107,626 66,986

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 107,526 66,886
SHAREHOLDERS' FUNDS 107,626 66,986

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.

AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

BALANCE SHEET - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





MAJ Hope - Director


AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Airwell 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. 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.

At the year end the company had net current liabilities. The ability to continue to trade is dependent on the willingness of companies under the control of the directors to continue to extend finance to the company which they are are both willing and able to do and have indicated that they will continue to do so for a period of at least 12 months from the date of signature of these financial statements.

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover, stated net of value added tax, represents rental income due to the company for the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 20% on cost

Investment property
Investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the market value is transferred to a revaluation reserve.

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 debtors and creditors.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.


AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
Additions 21,000
At 31 March 2024 21,000
DEPRECIATION
Charge for year 4,200
At 31 March 2024 4,200
NET BOOK VALUE
At 31 March 2024 16,800

AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,005,000
Revaluations 20,000
At 31 March 2024 1,025,000
NET BOOK VALUE
At 31 March 2024 1,025,000
At 31 March 2023 1,005,000

The property was valued on an open market basis at the year end by the directors of the company, based on information afforded by recent professional valuations of similar properties.

The values shown above are analysed as follows:

£

Revaluation surplus 79,758
Cost 945,242
Total 1,025,000


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 31,384 10,068

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 11,260 11,260
Taxation and social security 10,281 3,116
Other creditors 497,639 480,513
519,180 494,889

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 442,339 453,604

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 121,689 121,694

AIRWELL LIMITED (REGISTERED NUMBER: 11472744)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 449,104 458,364

Bank loans are secured by means of a fixed legal charge over the company's investment property and a limited personal guarantee given by the directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES

Retained earnings include both realised and unrealised profits.

12. OTHER FINANCIAL COMMITMENTS

At the year end the company had financial commitments which are not included in the balance sheet amounting to £446,175 (2023: £7,200).

13. RELATED PARTY DISCLOSURES

At the year end the directors were owed £316 by the company (2023: £684 owed to the company). The loans were repayable on demand and no interest was charged.