Company Registration No. 02510560 (England and Wales)
AERSPEED PUBLICATIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
AERSPEED PUBLICATIONS LIMITED
CONTENTS
Page
Company information
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
AERSPEED PUBLICATIONS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr Niels Jensen
Secretary
Mr Niels Jensen
Company number
02510560
Registered office
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
Accountants
TC Group
6th Floor Kings House
9-10 Haymarket
London
United Kingdom
SW1Y 4BP
AERSPEED PUBLICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 MARCH 2024
30 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
565
916
Current assets
Trade and other receivables
4
171,053
71,846
Cash and cash equivalents
61,699
92,005
232,752
163,851
Current liabilities
5
(158,082)
(99,863)
Net current assets
74,670
63,988
Total assets less current liabilities
75,235
64,904
Equity
Called up share capital
6
1
1
Capital redemption reserve
1
1
Retained earnings
75,233
64,902
Total equity
75,235
64,904
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
AERSPEED PUBLICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 MARCH 2024
30 March 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 27 January 2025
Mr Niels Jensen
Director
The notes on pages 4 to 7 form part of these financial statements
AERSPEED PUBLICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 MARCH 2024
- 4 -
1
Accounting policies
Company information
Aerspeed Publications Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Kings House, 9-10 Haymarket, London, United Kingdom, SW1Y 4BP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Reporting period
[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]
1.3
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% on cost
Computer equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
AERSPEED PUBLICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of non-current assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
AERSPEED PUBLICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
2
2
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 April 2023 and 30 March 2024
50,830
Depreciation and impairment
At 1 April 2023
49,914
Depreciation charged in the period
351
At 30 March 2024
50,265
Carrying amount
At 30 March 2024
565
At 31 March 2023
916
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
167,400
71,572
Other receivables
3,653
274
171,053
71,846
AERSPEED PUBLICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 MARCH 2024
- 7 -
5
Current liabilities
2024
2023
£
£
Trade payables
113,336
89,787
Taxation and social security
12,450
5,275
Other payables
32,296
4,801
158,082
99,863
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1