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REGISTERED NUMBER: 10607469 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

COMPOSITE AIR MANAGEMENT LIMITED

COMPOSITE AIR MANAGEMENT LIMITED (REGISTERED NUMBER: 10607469)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COMPOSITE AIR MANAGEMENT LIMITED

Company Information
for the Year Ended 29 February 2024







DIRECTOR: D Sims





REGISTERED OFFICE: Unit C
Baker House Industrial Estate
The Hayes
Stourbridge
DY9 8RS





REGISTERED NUMBER: 10607469 (England and Wales)





ACCOUNTANTS: Ian Lane Accountancy Services
Chartered Certified Accountants
32 Chestnut Avenue
Mickleover
Derby
DE3 9FT

COMPOSITE AIR MANAGEMENT LIMITED (REGISTERED NUMBER: 10607469)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,620 3,213

CURRENT ASSETS
Stocks 45,500 47,650
Debtors 5 130,996 169,357
Cash at bank and in hand 221 200
176,717 217,207
CREDITORS
Amounts falling due within one year 6 776,309 796,337
NET CURRENT LIABILITIES (599,592 ) (579,130 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(596,972

)

(575,917

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (597,972 ) (576,917 )
SHAREHOLDERS' FUNDS (596,972 ) (575,917 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 November 2024 and were signed by:





D Sims - Director


COMPOSITE AIR MANAGEMENT LIMITED (REGISTERED NUMBER: 10607469)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Composite Air Management 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.

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.

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 each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 33% on cost

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

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
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.

COMPOSITE AIR MANAGEMENT LIMITED (REGISTERED NUMBER: 10607469)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 2,250 51,426 446 54,122
DEPRECIATION
At 1 March 2023 1,264 49,199 446 50,909
Charge for year 148 445 - 593
At 29 February 2024 1,412 49,644 446 51,502
NET BOOK VALUE
At 29 February 2024 838 1,782 - 2,620
At 28 February 2023 986 2,227 - 3,213

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 120,780 165,423
Other debtors 10,216 3,934
130,996 169,357

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 346 1,789
Taxation and social security 815 4,574
Other creditors 775,148 789,974
776,309 796,337

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1,000 Ordinary £1 1,000 1,000