2024-03-012025-02-282025-02-28false13937976AIRGEN IT 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AIRGEN IT LIMITED

Registered Number
13937976
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

AIRGEN IT LIMITED
Company Information
for the year from 1 March 2024 to 28 February 2025

Director

WHITE, Benjamin Peter

Registered Address

6 Edison Village
Nottingham Science & Technology Park
Nottingham
NG7 2RF

Registered Number

13937976 (England and Wales)
AIRGEN IT LIMITED
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets318,62021,280
Tangible assets440,0928,477
58,71229,757
Current assets
Stocks516,450-
Debtors68,58411,556
Cash at bank and on hand4,9376,814
29,97118,370
Creditors amounts falling due within one year7(40,550)(17,791)
Net current assets (liabilities)(10,579)579
Total assets less current liabilities48,13330,336
Creditors amounts falling due after one year8(32,299)-
Provisions for liabilities10(5,652)-
Net assets10,18230,336
Capital and reserves
Called up share capital100100
Profit and loss account10,08230,236
Shareholders' funds10,18230,336
The financial statements were approved and authorised for issue by the Director on 3 June 2025, and are signed on its behalf by:
WHITE, Benjamin Peter
Director
Registered Company No. 13937976
AIRGEN IT LIMITED
Notes to the Financial Statements
for the year ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20252024
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 March 2426,60026,600
At 28 February 2526,60026,600
Amortisation and impairment
At 01 March 245,3205,320
Charge for year2,6602,660
At 28 February 257,9807,980
Net book value
At 28 February 2518,62018,620
At 29 February 2421,28021,280
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 March 248,960-1,10210,062
Additions2,66038,55494742,161
At 28 February 2511,62038,5542,04952,223
Depreciation and impairment
At 01 March 241,276-3091,585
Charge for year2,2118,03230310,546
At 28 February 253,4878,03261212,131
Net book value
At 28 February 258,13330,5221,43740,092
At 29 February 247,684-7938,477
5.Stocks

2025

2024

££
Raw materials and consumables16,450-
Total16,450-
6.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables72410,056
Other debtors6,360-
Prepayments and accrued income1,5001,500
Total8,58411,556
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables24,2927,150
Amounts owed to related parties11,9601,259
Taxation and social security4,2989,382
Total40,55017,791
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts3,985-
Other creditors28,314-
Total32,299-
9.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts28,313-
10.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)5,652-
Total5,652-
11.Related party transactions
During the year interest free loans were made available to the business by directors £11,960 (2024: £1,258)