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Registered number: 13332281










AERSPACE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
AERSPACE LIMITED
REGISTERED NUMBER: 13332281

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
335,806
-

  
335,806
-

Current assets
  

Debtors: amounts falling due within one year
 5 
8,400
9,383

Cash at bank and in hand
 6 
2,616
178

  
11,016
9,561

Creditors: amounts falling due within one year
 7 
(167,555)
(11,752)

Net current liabilities
  
 
 
(156,539)
 
 
(2,191)

Total assets less current liabilities
  
179,267
(2,191)

Creditors: amounts falling due after more than one year
 8 
(197,933)
-

  

Net liabilities
  
(18,666)
(2,191)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(18,668)
(2,193)

  
(18,666)
(2,191)


Page 1

 
AERSPACE LIMITED
REGISTERED NUMBER: 13332281

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2025.




R M Donnelly
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AERSPACE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

Going concern

The company had net liabilities at 30 April 2024 of £18,666 However, the director is of the opinion that the company has and will continue to have the support of its creditors for the foreseeable future. In the light of these factors, the director considers it appropriate to adopt the going concern basis in the preparation of these financial statements.

 
1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
1.6

Debtors

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.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

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

Page 3

 
AERSPACE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.


General information

Aerspace Limited is a private limited company incorporated in England and Wales. The Registered Office is 15 Hauxley Drive, Whitley Bay, England. NE25 9GE


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


Additions at cost
183,833
151,973
335,806



At 30 April 2024
183,833
151,973
335,806

The 2024 valuations were made by the director, on an open market value for existing use basis.



At 30 April 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
335,806
-

335,806
-


5.


Debtors

2024
2023
£
£


Other debtors
-
920

Prepayments and accrued income
8,400
8,463

8,400
9,383


Page 4

 
AERSPACE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,616
178

2,616
178



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,413
-

Other creditors
156,948
11,092

Accruals and deferred income
1,194
660

167,555
11,752


The following liabilities were secured:

2024
2023
£
£



Bank loans
9,413
-

9,413
-

Details of security provided:

The mortgages are secured on the properties to which they relate.

Page 5

 
AERSPACE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
197,933
-

197,933
-


The following liabilities were secured:

2024
2023
£
£



Bank loans
197,933
-

197,933
-

Details of security provided:

The mortgages are secured on the properties to which they relate.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,413
-


9,413
-


Amounts falling due 2-5 years

Bank loans
37,652
-


37,652
-

Amounts falling due after more than 5 years

Bank loans
160,281
-

160,281
-

207,346
-


Page 6

 
AERSPACE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
4,715
-

Later than 1 year and not later than 5 years
9,038
-

13,753
-


Page 7