Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-22falsethe design, manufacture, supply and installation of environmental control equipment to industrial clients.trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-10-012421truefalse 02849780 2023-10-01 2024-09-30 02849780 2022-10-01 2023-09-30 02849780 2024-09-30 02849780 2023-09-30 02849780 c:Director1 2023-10-01 2024-09-30 02849780 d:PlantMachinery 2023-10-01 2024-09-30 02849780 d:PlantMachinery 2024-09-30 02849780 d:PlantMachinery 2023-09-30 02849780 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02849780 d:MotorVehicles 2023-10-01 2024-09-30 02849780 d:MotorVehicles 2024-09-30 02849780 d:MotorVehicles 2023-09-30 02849780 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02849780 d:OfficeEquipment 2023-10-01 2024-09-30 02849780 d:OfficeEquipment 2024-09-30 02849780 d:OfficeEquipment 2023-09-30 02849780 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02849780 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02849780 d:CurrentFinancialInstruments 2024-09-30 02849780 d:CurrentFinancialInstruments 2023-09-30 02849780 d:Non-currentFinancialInstruments 2024-09-30 02849780 d:Non-currentFinancialInstruments 2023-09-30 02849780 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02849780 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02849780 d:ShareCapital 2024-09-30 02849780 d:ShareCapital 2023-09-30 02849780 d:RetainedEarningsAccumulatedLosses 2024-09-30 02849780 d:RetainedEarningsAccumulatedLosses 2023-09-30 02849780 c:FRS102 2023-10-01 2024-09-30 02849780 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02849780 c:FullAccounts 2023-10-01 2024-09-30 02849780 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02849780 2 2023-10-01 2024-09-30 02849780 7 2023-10-01 2024-09-30 02849780 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 02849780










AIRBENCH LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
AIRBENCH LTD
REGISTERED NUMBER: 02849780

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
173,841
103,317

  
173,841
103,317

Current assets
  

Stocks
  
432,915
438,002

Debtors
 5 
427,216
1,574,514

Cash at bank and in hand
 6 
3,308,674
1,270,531

  
4,168,805
3,283,047

Creditors: amounts falling due within one year
 7 
(1,044,847)
(908,445)

Net current assets
  
 
 
3,123,958
 
 
2,374,602

Total assets less current liabilities
  
3,297,799
2,477,919

Provisions for liabilities
  

Deferred tax
  
(27,486)
(25,623)

  
 
 
(27,486)
 
 
(25,623)

Net assets
  
3,270,313
2,452,296


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
3,260,313
2,442,296

  
3,270,313
2,452,296


Page 1

 
AIRBENCH LTD
REGISTERED NUMBER: 02849780
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider 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 directors acknowledge their 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 comprehensive income 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 22 May 2025.




Simon Cook
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Airbench is a limited liability company incorporated in England. Its registered office address is 6B Commerce Way Colchester CO2 8HR. Its principal activity is the design, manufacture, supply and installation of environmental control equipment to industrial clients.

2.Accounting policies

 
2.1

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:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 4

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Development costs

Development costs are charged to the profit and loss account as incurred. 

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below..

Depreciation is provided on the following basis:

Plant and equipment
-
15%
Straight line
Motor vehicles
-
25%
Reducing balance
Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 6

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2023 - 21).

Page 7

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
83,529
133,714
47,579
264,822


Additions
835
114,289
25,693
140,817


Disposals
-
(53,279)
-
(53,279)



At 30 September 2024

84,364
194,724
73,272
352,360



Depreciation


At 1 October 2023
69,314
51,476
40,715
161,505


Charge for the year on owned assets
3,290
28,917
9,665
41,872


Disposals
-
(24,858)
-
(24,858)



At 30 September 2024

72,604
55,535
50,380
178,519



Net book value



At 30 September 2024
11,760
139,189
22,892
173,841



At 30 September 2023
14,215
82,238
6,864
103,317

Page 8

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
-
172,420

-
172,420

Due within one year

Trade debtors
356,172
332,529

Other debtors
250
1,000,250

Prepayments and accrued income
70,794
69,315

427,216
1,574,514


Included within other debtors due within one year at 30.09.23 are loans to Diane Bishop, a director, amounting to £500,000 and to Simon Cook, a director, amounting to £500,000. Both balances were repaid in full on 24th November 2023. Interest was paid at the official rate.




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,308,674
1,270,531

3,308,674
1,270,531



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
380,345
408,008

Corporation tax
371,134
254,810

Other taxation and social security
205,250
210,402

Other creditors
5,606
3,597

Accruals and deferred income
82,512
31,628

1,044,847
908,445


Page 9

 
AIRBENCH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £74,968 (2023 - £21,022) Contributions totalling £4,212 (2023 - £3,466 ) were payable to the fund at the balance sheet date and are included in creditors.


9.


Controlling party

The ultimate parent undertaking is Workpoint Holdings Limited, located in the UK and the controlling party due to his shareholding in Workpoint Holdings Limited is Mr S Cook.

 
Page 10