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COMPANY REGISTRATION NUMBER: 04122889
Total Air Systems Ltd
Filleted Unaudited Financial Statements
31 December 2024
Total Air Systems Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
48,551
31,616
Current assets
Stocks
4,424
2,952
Debtors
7
243,202
183,689
Investments
8
30,000
Cash at bank and in hand
49,894
5,798
---------
---------
297,520
222,439
Creditors: amounts falling due within one year
9
142,427
77,512
---------
---------
Net current assets
155,093
144,927
---------
---------
Total assets less current liabilities
203,644
176,543
Creditors: amounts falling due after more than one year
10
36,137
28,587
Provisions
Taxation including deferred tax
9,226
6,008
---------
---------
Net assets
158,281
141,948
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
158,181
141,848
---------
---------
Shareholders funds
158,281
141,948
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Total Air Systems Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
Mr J Francis
Director
Company registration number: 04122889
Total Air Systems Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Avonvale Road, Trowbridge, Wiltshire, BA14 8QS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
15% reducing balance
Equipment
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
10,000
--------
Amortisation
At 1 January 2024 and 31 December 2024
10,000
--------
Carrying amount
At 31 December 2024
--------
At 31 December 2023
--------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2024
92,699
9,634
102,333
Additions
24,167
1,336
25,503
---------
--------
---------
At 31 December 2024
116,866
10,970
127,836
---------
--------
---------
Depreciation
At 1 January 2024
63,047
7,670
70,717
Charge for the year
8,073
495
8,568
---------
--------
---------
At 31 December 2024
71,120
8,165
79,285
---------
--------
---------
Carrying amount
At 31 December 2024
45,746
2,805
48,551
---------
--------
---------
At 31 December 2023
29,652
1,964
31,616
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
125,597
46,105
Other debtors
117,605
137,584
---------
---------
243,202
183,689
---------
---------
8. Investments
2024
2023
£
£
Other investments
30,000
----
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
19,296
13,079
Trade creditors
56,934
20,582
Corporation tax
20,573
3,107
Social security and other taxes
6,100
1,680
Other creditors
39,524
39,064
---------
--------
142,427
77,512
---------
--------
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
36,137
28,587
--------
--------