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REGISTERED NUMBER: 01937425 (England and Wales)











AIRBERG LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2023






AIRBERG LIMITED (REGISTERED NUMBER: 01937425)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


AIRBERG LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: A M Coates
Mrs N M B Coates
J D Coates
W Coates





SECRETARY: A M Coates





REGISTERED OFFICE: Lygon House
50 London Road
Bromley
Kent
BR1 3RA





REGISTERED NUMBER: 01937425 (England and Wales)






AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,859 131,933

CURRENT ASSETS
Stocks 5 204,202 179,795
Debtors 6 290,918 477,260
Cash at bank and in hand 25,229 65,089
520,349 722,144
CREDITORS
Amounts falling due within one year 7 1,908,182 1,856,962
NET CURRENT LIABILITIES (1,387,833 ) (1,134,818 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,280,974

)

(1,002,885

)

CREDITORS
Amounts falling due after more than one year 8 1,224,165 1,189,119
NET LIABILITIES (2,505,139 ) (2,192,004 )

CAPITAL AND RESERVES
Called up share capital 38,000 38,000
Retained earnings (2,543,139 ) (2,230,004 )
SHAREHOLDERS' FUNDS (2,505,139 ) (2,192,004 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

BALANCE SHEET - continued
30 September 2023


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 10 March 2025 and were signed on its behalf by:





A M Coates - Director


AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023

1. COMPANY INFORMATION

Airberg 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. The company's principal activity is the exporting of food to the middle east.

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
The directors have prepared the financial statements on a going concern basis as their forecasts and business plan for the company indicate that they expect to remain within its available funding facilities. The forecasts assume that the company will continue to receive funding support from long-term key stakeholders who have a long history of supporting the company.
The directors have also prepared the accounts on the assumption that it will continue to receive favourable payment terms from major trade creditors.
If this support, from either of the key stakeholders or trade creditors, was to cease the directors believe they could implement measures to enable the company to meet its financial obligations.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenditures during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management do not consider that there is a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rental costs under operating leases are charged to the profit and loss account in equal annual amounts over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

Creditors
Short term trade 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.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 23 ) .

AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 239,537 543,629 129,938 913,104
Additions - 573 - 573
At 30 September 2023 239,537 544,202 129,938 913,677
DEPRECIATION
At 1 October 2022 190,342 486,846 103,983 781,171
Charge for year 7,380 8,534 9,733 25,647
At 30 September 2023 197,722 495,380 113,716 806,818
NET BOOK VALUE
At 30 September 2023 41,815 48,822 16,222 106,859
At 30 September 2022 49,195 56,783 25,955 131,933

The net book value of fixed assets include an amount of £nil (2022 - £60,936) held under finance leases and hire purchase contracts.

5. STOCKS
2023 2022
£    £   
Stocks 204,202 179,795

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 266,349 452,555
Other debtors 3,889 3,889
Prepayments and accrued income 20,680 20,816
290,918 477,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) - 3,023
Trade creditors 1,559,956 1,556,371
Social security and other taxes 21,260 23,802
Accrued expenses 326,966 273,766
1,908,182 1,856,962

AIRBERG LIMITED (REGISTERED NUMBER: 01937425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans (see note 9) 1,224,165 1,189,119

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due between one and two years:
Other loans 511,753 492,066
Directors loans 712,412 697,053
1,224,165 1,189,119

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 3,023

Non-cancellable operating leases
2023 2022
£    £   
Within one year 137,000 137,000
Between one and five years 548,000 548,000
In more than five years 274,751 411,751
959,751 1,096,751

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are considered to be A M Coates and Mrs N M B Coates.