Company Registration No. 09336069 (England and Wales)
AirClad Ltd
Unaudited accounts
for the year ended 30 September 2024
AirClad Ltd
Unaudited accounts
Contents
AirClad Ltd
Company Information
for the year ended 30 September 2024
Directors
Nicholas Crosbie
Timothy Povey
Company Number
09336069 (England and Wales)
Registered Office
57 CANBURY PARK ROAD
KINGSTON
KT2 6LQ
UNITED KINGDOM
Accountants
SA Ledgers Ltd
57 Canbury Park Road
Kingston
KT2 6LQ
AirClad Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
92,753
130,731
Cash at bank and in hand
383,248
500,696
Creditors: amounts falling due within one year
(638,704)
(1,007,769)
Net current assets
361,253
52,605
Total assets less current liabilities
454,006
183,336
Provisions for liabilities
Deferred tax
(17,623)
(34,994)
Net assets
436,383
148,342
Called up share capital
1
1
Profit and loss account
436,382
148,341
Shareholders' funds
436,383
148,342
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 June 2025 and were signed on its behalf by
Nicholas Crosbie
Director
Company Registration No. 09336069
AirClad Ltd
Notes to the Accounts
for the year ended 30 September 2024
AirClad Ltd is a private company, limited by shares, registered in England and Wales, registration number 09336069. The registered office is 57 CANBURY PARK ROAD, KINGSTON, KT2 6LQ, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts. Turnover is also measured net of the estimated value of customer returns and volume rebates.Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred all the significant risks and rewards of ownership of the goods to the buyer;
- the company retains neither continuing managerial involvement, nor effective control, over the goods to the degree usually associated with ownership;
- the amount of the revenue can be reliably measured;
- it is probable that the economic benefits associated with the sale will flow to the entity; and
- the costs incurred in respect of the transaction can be reliably measured.
Turnover is recognised on despatch of goods which is the point at which the company transfers the significant risks and rewards of ownership of the goods to the customer. The company retains legal title of the goods until the customer pays, but this does not constitute a retention of the significant risks and rewards of ownership. Amounts received in advance of shipping goods to customers are recognised as deferred income and presented within creditors: amounts falling due within one year. Other income relates to rent and interest receivable. Rental income is recognised when the company is entitled to receive income based on the contractual agreement in force. Interest income is recognised using the effective interest method.
AirClad Ltd
Notes to the Accounts
for the year ended 30 September 2024
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by management.
The directors assess the company?s tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare this with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss for the period. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment have ceased to apply. Impairment losses are reversed through profit and loss but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised.
Depreciation is provided on all tangible fixed assets at rates which are calculated to write off the cost, less 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), of each asset on a systematic basis over its expected useful life as follows:
Plant & machinery
20% straight line basis
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.
Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.
Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value.
Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
AirClad Ltd
Notes to the Accounts
for the year ended 30 September 2024
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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset.
Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.
Transactions in currencies other than the functional currency are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated to the functional currency at the exchange rate prevailing at the balance sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. All exchange differences are taken to profit or loss.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
259,476
6,208
265,684
Additions
11,744
5,291
17,035
At 30 September 2024
271,220
11,499
282,719
At 1 October 2023
132,839
2,114
134,953
Charge for the year
53,461
1,552
55,013
At 30 September 2024
186,300
3,666
189,966
At 30 September 2024
84,920
7,833
92,753
At 30 September 2023
126,637
4,094
130,731
Amounts falling due within one year
Trade debtors
530,735
472,721
Other debtors
87,150
90,792
AirClad Ltd
Notes to the Accounts
for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
337,422
141,222
Taxes and social security
89,365
11,047
Deferred income
211,917
855,500
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).