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REGISTERED NUMBER: 01536863 (England and Wales)












Financial Statements

for the Year Ended 31st December 2024

for

The Air Group Limited

The Air Group Limited (Registered number: 01536863)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


The Air Group Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: J D Codling
N J S Randall





REGISTERED OFFICE: Leys Stables
Old Bix Road
Henley on Thames
Oxfordshire
RG9 6BY





REGISTERED NUMBER: 01536863 (England and Wales)





ACCOUNTANTS: Buffery & Co Ltd
Chiltern House, 45 Station Rd
Henley On Thames
Oxfordshire
RG9 1AT

The Air Group Limited (Registered number: 01536863)

Abridged Balance Sheet
31st December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 886,124 893,790
Investments 5 8,135,548 8,063,894
9,021,672 8,957,684

CURRENT ASSETS
Stocks 6,860,386 7,269,843
Debtors: amounts falling due within one year 1,320,408 1,377,684
Debtors: amounts falling due after more than
one year

6

3,204,271

2,115,137
Investments 1,200 1,200
Cash at bank and in hand 3,543,836 2,172,590
14,930,101 12,936,454
CREDITORS
Amounts falling due within one year 525,715 539,667
NET CURRENT ASSETS 14,404,386 12,396,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,426,058

21,354,471

CREDITORS
Amounts falling due after more than one
year

13,276,501

11,876,413
NET ASSETS 10,149,557 9,478,058

CAPITAL AND RESERVES
Called up share capital 8 2,475,000 2,475,000
Share premium 9 2,970,000 2,970,000
Revaluation reserve 9 780,699 767,128
Retained earnings 9 3,923,858 3,265,930
SHAREHOLDERS' FUNDS 10,149,557 9,478,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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.

The Air Group Limited (Registered number: 01536863)

Abridged Balance Sheet - continued
31st December 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th June 2025 and were signed on its behalf by:





N J S Randall - Director


The Air Group Limited (Registered number: 01536863)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

The Air Group 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.

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.

Changes in accounting policies
The measurement basis of investments in subsidiaries has been changed from cost less impairment to fair value through the profit and loss.

The directors believe that this provides more reliable and relevant information, as the carrying amount reflects market movements.

This change in accounting policy has been applied retrospectively and the relevant figures re-instated.

A summary of the impact of the changes is as follows:



Year To 31
December
2024
Year To 31
December
2023
Year To 31
December
2022
Profit and Loss Account Items:
Revaluation gain/ (loss) on subsidiaries and other
participating interests

+£13,571

-£10,951

+£8,721
Profit before taxation+£13,571-£10,951+£8,721
Profit for the financial year+£13,571-£10,951+£8,721

Balance Sheet Items:
Investments+£13,571-£10,951+£8,721
Revaluation reserve+£13,571-£10,951+£8,721

Turnover
Turnover represents amounts receivable for goods and services net of VAT

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the costs of each asset over its expected useful life, as follows:

Land & Buildings (Leasehold ) 20% straight line
Computer equipment 33% straight line
Fixtures & fittings 33% straight line
Motor Vehicles 33% straight line

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads. Appropriate provision is made for any foreseeable losses. No element of profit is included in the valuation of work in progress.


The Air Group Limited (Registered number: 01536863)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Investments
Fixed asset investments are stated at their quoted market value. Where a quoted valuation does not exist, the investments are valued at the lower of cost and the directors' opinion of market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2024
and 31st December 2024 998,838
DEPRECIATION
At 1st January 2024 105,048
Charge for year 7,666
At 31st December 2024 112,714
NET BOOK VALUE
At 31st December 2024 886,124
At 31st December 2023 893,790

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2024 7,205,863
Additions 922,985
Disposals (1,550,130 )
At 31st December 2024 6,578,718
PROVISIONS
At 1st January 2024 (858,031 )
Charge for year (698,799 )
At 31st December 2024 (1,556,830 )
NET BOOK VALUE
At 31st December 2024 8,135,548
At 31st December 2023 8,063,894

The Air Group Limited (Registered number: 01536863)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Amounts owed by AGRL 3,204,271 2,115,137

7. SECURED DEBTS

Bank overdraft facility with Lloyds Bank PLC. There is a fixed and floating charge over the assets of the company to secure this liability.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
300,000 Ordinary Shares £1 300,000 300,000
2,175,000 Preference £1 2,175,000 2,175,000
2,475,000 2,475,000

9. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1st January 2024 3,265,930 2,970,000 767,128 7,003,058
Profit for the year 657,928 657,928
Movement in Investments - - 13,571 13,571
At 31st December 2024 3,923,858 2,970,000 780,699 7,674,557

10. RELATED PARTY DISCLOSURES

At the year end, the company owed Mr NJS Randall £5,794,000 (2023 - £4,393,912 ) in respect of his directors loan account. The full amount has been included in long term creditors.

At the year end, the company owed £7,482,501 (2023 - £7,482,501) to its parent company, Roman Rentals 012 Limited. The full amount has been included in long term creditors.

11. ULTIMATE CONTROLLING PARTY

The controlling party is N J S Randall.