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REGISTERED NUMBER: 08922659 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

Aspect Air Ltd

Aspect Air Ltd (Registered number: 08922659)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aspect Air Ltd

Company Information
for the Year Ended 30th April 2024







DIRECTOR: Mr N A Pickering





REGISTERED OFFICE: Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF





REGISTERED NUMBER: 08922659 (England and Wales)





ACCOUNTANTS: Field & Co LLP
Central Chambers
227 London Road
Hadleigh
Benfleet
Essex
SS7 2RF

Aspect Air Ltd (Registered number: 08922659)

Balance Sheet
30th April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,750 38,197

CURRENT ASSETS
Debtors 5 325,269 381,543
Cash at bank and in hand 1,130 17,202
326,399 398,745
CREDITORS
Amounts falling due within one year 6 223,137 226,323
NET CURRENT ASSETS 103,262 172,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,012

210,619

CREDITORS
Amounts falling due after more than
one year

7

(20,663

)

(32,901

)

PROVISIONS FOR LIABILITIES 8 (6,471 ) (6,551 )
NET ASSETS 107,878 171,167

CAPITAL AND RESERVES
Called up share capital 9 5 5
Retained earnings 10 107,873 171,162
SHAREHOLDERS' FUNDS 107,878 171,167

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30th April 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.

Aspect Air Ltd (Registered number: 08922659)

Balance Sheet - continued
30th April 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 director and authorised for issue on 6th January 2025 and were signed by:





Mr N A Pickering - Director


Aspect Air Ltd (Registered number: 08922659)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Aspect Air Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - Straight line over 4 years
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

Aspect Air Ltd (Registered number: 08922659)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st May 2023 32,351 91,005 2,407 125,763
Additions 2,083 - - 2,083
At 30th April 2024 34,434 91,005 2,407 127,846
DEPRECIATION
At 1st May 2023 31,263 54,697 1,606 87,566
Charge for year - 7,262 160 7,422
Eliminated on disposal 1,108 - - 1,108
At 30th April 2024 32,371 61,959 1,766 96,096
NET BOOK VALUE
At 30th April 2024 2,063 29,046 641 31,750
At 30th April 2023 1,088 36,308 801 38,197

Aspect Air Ltd (Registered number: 08922659)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st May 2023 30,000 70,655 100,655
Transfer to ownership - (12,995 ) (12,995 )
At 30th April 2024 30,000 57,660 87,660
DEPRECIATION
At 1st May 2023 30,000 38,754 68,754
Charge for year - 5,699 5,699
Transfer to ownership - (9,588 ) (9,588 )
At 30th April 2024 30,000 34,865 64,865
NET BOOK VALUE
At 30th April 2024 - 22,795 22,795
At 30th April 2023 - 31,901 31,901

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 74,962 123,396
Amounts owed by group undertakings 241,231 250,171
Other debtors 9,076 7,976
325,269 381,543

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 10,522 10,000
Hire purchase contracts 2,927 13,456
Trade creditors 21,103 51,339
Taxation and social security 187,203 150,450
Other creditors 1,382 1,078
223,137 226,323

Aspect Air Ltd (Registered number: 08922659)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans 16,856 26,167
Hire purchase contracts 3,807 6,734
20,663 32,901

8. PROVISIONS FOR LIABILITIES
30/4/24 30/4/23
£    £   
Deferred tax 6,471 6,551

Deferred
tax
£   
Balance at 1st May 2023 6,551
Provided during year (80 )
Balance at 30th April 2024 6,471

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/4/24 30/4/23
value: £    £   
1 Ordinary Share £1 1 1
1 Ordinary A Share £1 1 1
1 Ordinary B Share £1 1 1
1 Ordinary C Share £1 1 1
1 Ordinary D Share £1 1 1
5 5

10. RESERVES
Retained
earnings
£   

At 1st May 2023 171,162
Profit for the year 79,688
Dividends (142,977 )
At 30th April 2024 107,873