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Registered Number: 07391720


 

 

 

AIRSOURCE VENTILATION LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Intangible fixed assets 3 344    344 
Tangible fixed assets 4 36,419    280,650 
36,763    280,994 
Current assets      
Stocks 5 284,422    262,699 
Debtors 6 1,186,861    859,548 
Cash at bank and in hand 842,782    2,247,429 
2,314,065    3,369,676 
Creditors: amount falling due within one year 7 (1,302,642)   (971,834)
Net current assets 1,011,423    2,397,842 
 
Total assets less current liabilities 1,048,186    2,678,836 
Creditors: amount falling due after more than one year 8 (25,555)   (35,587)
Net assets 1,022,631    2,643,249 
 

Capital and reserves 		     
Called up share capital 22    22 
Share premium account 9 (508,795)   (508,795)
Profit and loss account 1,531,404    3,152,022 
Shareholders' funds 1,022,631    2,643,249 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 13 June 2025 and were signed on its behalf by:


-------------------------------
Andrew Pinchbeck
Director
1
General Information
Airsource Ventilation Limited is a private company, limited by shares, registered in , registration number 07391720, registration address Unit B1 Lyntown Trading Estate, Lynwell Road, Eccles, Greater Manchester, M30 9QG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15%/30% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15%/30% Reducing Balance
Computer Equipment 30% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 30 (2023 : 40).
3.

Intangible fixed assets

Cost Patent   Total
  £   £
At 01 October 2023 344    344 
Additions -    - 
Disposals -    - 
At 30 September 2024 344    344 
Net book values
At 30 September 2024 344    344 
At 30 September 2023 344    344 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2023 489,464    161,708    31,600    3,317    686,089 
Additions 32,392    -    1,430    1,467    35,289 
Disposals (516,936)   (161,708)   -    -    (678,644)
At 30 September 2024 4,920    -    33,030    4,784    42,734 
Depreciation
At 01 October 2023 346,229    39,262    19,428    520    405,439 
Charge for year 11,429    9,995    1,963    920    24,307 
On disposals (374,174)   (49,257)   -    -    (423,431)
At 30 September 2024 (16,516)   -    21,391    1,440    6,315 
Net book values
Closing balance as at 30 September 2024 21,436    -    11,639    3,344    36,419 
Opening balance as at 01 October 2023 143,235    122,446    12,172    2,797    280,650 


5.

Stocks

2024
£		   2023
£
Work in Progress 169,713    136,596 
Raw Materials 114,709    126,103 
284,422    262,699 

6.

Debtors: amounts falling due within one year

2024
£		   2023
£
Trade Debtors 837,639    802,115 
Provision for Doubtful Debts (638)   (638)
Amount Owed by Group Undertakings 274,178    0 
Prepayments & Accrued Income 76,354    38,533 
Advance Received (672)   0 
Directors' Current Accounts - Alex Pinchbeck 0    9,769 
Directors' Current Accounts - Andrew Pinchbeck 0    9,769 
1,186,861    859,548 

7.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 630,387    457,363 
Nat-West Credit Card 3,724    3,443 
Corporation Tax 437,451    253,503 
PAYE & Social Security 22,102    21,714 
Accrued Expenses 58,560    78,924 
Advance Paid (376)   (376)
Other Creditors 1    0 
Wages & Salaries Control Account 341    341 
VAT 150,452    156,922 
1,302,642    971,834 

8.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Bank Loans & Overdrafts (secured) 25,555    35,587 
25,555    35,587 

9.

Share premium account

2024
£		   2023
£
Equity Share Premium b/fwd (508,795)   (508,795)
(508,795)   (508,795)

2