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REGISTERED NUMBER: 06554763 (England and Wales)















HEMAIR SYSTEMS UK LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






HEMAIR SYSTEMS UK LIMITED (REGISTERED NUMBER: 06554763)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


HEMAIR SYSTEMS UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr S R Vutla
Ms J Vutla
Ms C Vutla
Mr V C Vutla
Mr U K Vutla



SECRETARY: Mr S R Vutla



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 06554763 (England and Wales)



AUDITORS: Morris Owen
Statutory Auditors
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: State Bank of India
London Main Branch
15 King Street
LONDON
EC2V 8EA

HEMAIR SYSTEMS UK LIMITED (REGISTERED NUMBER: 06554763)

STATEMENT OF FINANCIAL POSITION
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 827,623 850,857

CURRENT ASSETS
Debtors 5 4,248 44,784
Cash at bank and in hand 150,313 118,771
154,561 163,555
CREDITORS
Amounts falling due within one year 6 1,552,150 1,573,899
NET CURRENT LIABILITIES (1,397,589 ) (1,410,344 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(569,966

)

(559,487

)

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (570,966 ) (560,487 )
SHAREHOLDERS' FUNDS (569,966 ) (559,487 )

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 18th February 2025 and were signed on its behalf by:





Mr V C Vutla - Director


HEMAIR SYSTEMS UK LIMITED (REGISTERED NUMBER: 06554763)

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


1. STATUTORY INFORMATION

Hemair Systems UK Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06554763

Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

The company withdrew from its trading activity a number of years ago due to the economic environment, and also due to difficulties experienced in establishing a suitable management structure.

However, having reviewed the assets and liabilities comprised in the balance sheet, the directors
believe that there are no material adjustments required to reflect the ongoing impact of not
trading. It is intended that the freehold properties will be retained, and let on a short term basis, with a view to being utilised when the company recommences UK operations in the future. The company continues to be supported financially by its parent company, Hemair Systems India Limited, which has provided funding via the inter-company loan, and also provides a guarantee in respect of the bank overdraft facility.

There is no expectation that Hemair Systems UK Limited will cease to exist in the foreseeable future, which is taken to be a period of at least twelve months from the date of signature of these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

HEMAIR SYSTEMS UK LIMITED (REGISTERED NUMBER: 06554763)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 1,136,948 18,493 1,155,441
DEPRECIATION
At 1st April 2023 288,326 16,258 304,584
Charge for year 22,739 495 23,234
At 31st March 2024 311,065 16,753 327,818
NET BOOK VALUE
At 31st March 2024 825,883 1,740 827,623
At 31st March 2023 848,622 2,235 850,857

HEMAIR SYSTEMS UK LIMITED (REGISTERED NUMBER: 06554763)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,248 44,784

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,439,660 1,439,660
Taxation and social security 44,569 37,367
Other creditors 67,921 96,872
1,552,150 1,573,899

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Ian Sumbler (Senior Statutory Auditor)
for and on behalf of Morris Owen

9. ULTIMATE PARENT COMPANY

Hemair Systems India Limited is regarded by the directors as being the company's ultimate parent company.

The largest group of undertakings for which group accounts have been drawn up is that headed by Hemair Systems India Limited. The consolidated accounts of the group are available to the public and may be obtained from Vishwakarma, Technical Centre, SY.NO.296/7/6 & 7/7 I.D.A, Bollaram, Miyapur, Hyderabad, Telangana - 502325.