Registered number
03704700
Airwise Pneumatics Ltd
Unaudited Filleted Accounts
31 January 2025
Airwise Pneumatics Ltd
Registered number: 03704700
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 130,290 248,583
Current assets
Debtors 4 173,888 364,426
Cash at bank and in hand 407,427 260,157
581,315 624,583
Creditors: amounts falling due within one year 5 (238,822) (367,609)
Net current assets 342,493 256,974
Net assets 472,783 505,557
Capital and reserves
Called up share capital 100 100
Profit and loss account 472,683 505,457
Shareholders' funds 472,783 505,557
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Barwise
Director
Approved by the board on 26 June 2025
Airwise Pneumatics Ltd
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Long leasehold 2% on cost
Freehold property 2% on cost
Plant & machinery over 5 years
Computer equipment over 3 years
Fixtures, fittings, tools and equipment over 5 years
Motor vehicles over 5 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 218,462 132,211 166,693 517,366
Additions - 9,284 20,999 30,283
Disposals (104,384) (8,335) (38,927) (151,646)
At 31 January 2025 114,078 133,160 148,765 396,003
Depreciation
At 1 February 2024 37,384 125,641 105,758 268,783
Charge for the year 2,282 2,561 10,484 15,327
On disposals - - (18,397) (18,397)
At 31 January 2025 39,666 128,202 97,845 265,713
Net book value
At 31 January 2025 74,412 4,958 50,920 130,290
At 31 January 2024 181,078 6,570 60,935 248,583
4 Debtors 2025 2024
£ £
Trade debtors 154,626 364,426
Other debtors 19,262 -
173,888 364,426
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 48,291 163,523
Taxation and social security costs 60,724 86,951
Other creditors 129,807 117,135
238,822 367,609
6 Related party transactions
Airwise Pneumatics Ltd lent Vape Lab Solutions Ltd £19262 in the year (nil 2024) Both companies are under the control of Mr A Barwise
7 Other information
Airwise Pneumatics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Marys Road
Garston
Liverpool
Merseyside
L19 0NQ
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