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REGISTERED NUMBER: 04591575 (England and Wales)















AIRMAX REMOTE LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2024






AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


AIRMAX REMOTE LIMITED

Company Information
for the year ended 31 March 2024







Director: R H Perham





Registered office: Unit 1 Avenue Terrace
Avenue Road
Aston
Birmingham
West Midlands
B6 4DY





Registered number: 04591575 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 1,576,838 1,485,936
Tangible assets 5 357,116 220,055
1,933,954 1,705,991

Current assets
Stocks 223,507 230,240
Debtors 6 1,832,215 1,729,839
Cash at bank 292,690 79,318
2,348,412 2,039,397
Creditors
Amounts falling due within one year 7 822,924 419,739
Net current assets 1,525,488 1,619,658
Total assets less current liabilities 3,459,442 3,325,649

Creditors
Amounts falling due after more than one year 8 299,022 517,563
Net assets 3,160,420 2,808,086

Capital and reserves
Called up share capital 100 100
Retained earnings 3,160,320 2,807,986
3,160,420 2,808,086

AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)

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 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 21 October 2024 and were signed by:





R H Perham - Director


AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)

Notes to the Financial Statements
for the year ended 31 March 2024

1. Statutory information

Airmax Remote 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.

Going concern
At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

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

Intangible assets
Intangible assets are initiailly measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have started to be amortised evenly over their estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

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.

AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. Accounting policies - continued

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.

3. Employees and directors

The average number of employees during the year was 19 (2023 - 19 ) .

4. Intangible fixed assets
Other
intangible
assets
£
Cost
At 1 April 2023 1,556,044
Additions 211,501
At 31 March 2024 1,767,545
Amortisation
At 1 April 2023 70,108
Charge for year 120,599
At 31 March 2024 190,707
Net book value
At 31 March 2024 1,576,838
At 31 March 2023 1,485,936

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 April 2023 167,736 38,013 121,137 83,755 410,641
Additions 260,299 - - 1,618 261,917
Disposals - - (50,108 ) - (50,108 )
At 31 March 2024 428,035 38,013 71,029 85,373 622,450
Depreciation
At 1 April 2023 74,643 9,870 35,470 70,603 190,586
Charge for year 56,064 3,834 18,592 6,279 84,769
Eliminated on disposal - - (10,021 ) - (10,021 )
At 31 March 2024 130,707 13,704 44,041 76,882 265,334
Net book value
At 31 March 2024 297,328 24,309 26,988 8,491 357,116
At 31 March 2023 93,093 28,143 85,667 13,152 220,055

Included under plant and machinery are assets leased to third parties under operating leases at a cost of £401,443 (2023: £141,144) less accumulated depreciation of £110,904 (2023: £57,291).

AIRMAX REMOTE LIMITED (REGISTERED NUMBER: 04591575)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 473,562 229,602
Amounts owed by group undertakings 1,264,284 1,346,695
Tax 44,643 71,838
Accrued income - 41,579
Prepayments 49,726 40,125
1,832,215 1,729,839

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 106,667 162,417
Other loans 23,857 -
Hire purchase contracts 11,614 11,400
Trade creditors 351,189 137,690
Social security and other taxes 36,644 8,247
VAT 76,581 40,434
Other creditors 4,609 2,032
Directors' current accounts 61 3,307
Accruals and deferred income 211,702 54,212
822,924 419,739

In 2021, an amount totalling £400,000 was included within the accounts which relates to the Coronavirus Business Interruption Loan Scheme (CBILS). A guarantee from the UK Government to Bank of Scotland has been provided for the bank loans under CBIL scheme. £200,000 of this loan attracts 2.90% interest and is due to be repaid by 31 May 2026. The remaining £200,000 attracts 3.30% interest and is due to be repaid by 30 November 2026. The remaining amount due as at 31st March 2024 was £106,667 (2023 - £276,667).

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 101,540 162,417
Bank loans - 2-5 years 127,777 260,789
Other loans - 1-2 years 27,017 -
Hire purchase contracts 42,688 94,357
299,022 517,563

9. Director's advances, credits and guarantees

As at 31 March 2024, the company owed the director R Perham £61 (2023 - £3,308 ) by way of a directors loan account.

10. Ultimate controlling party

The Immediate parent company is Airmax Group Limited, a company registered and incorporated in England and Wales.

The Ultimate parent company and controlling party is Airmax Holdings Limited incorporated in England & Wales