PARK AIR SYSTEMS LIMITED

Company Registration Number:
01951792 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

PARK AIR SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

PARK AIR SYSTEMS LIMITED

Directors' report period ended 31 December 2024

The directors present their report with the financial statements of the company for the period ended 31 December 2024

Principal activities of the company

The Company is a global supplier of Air Traffic Control (ATC) equipment and support services to the aviation community. There have not been any changes to the Company’s principal activity in the year. The directors are not aware of, at the date of this report, any likely changes in the Company’s activities in the forthcoming year.



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Fiona Thompson
Ramon Tarrech-Masdeu


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
22 July 2025

And signed on behalf of the board by:
Name: Fiona Thompson
Status: Director

PARK AIR SYSTEMS LIMITED

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 24,506,000 20,682,000
Cost of sales: ( 14,965,000 ) ( 14,385,000 )
Gross profit(or loss): 9,541,000 6,297,000
Distribution costs: ( 3,212,000 ) ( 3,221,000 )
Administrative expenses: ( 5,977,000 ) ( 5,918,000 )
Operating profit(or loss): 352,000 (2,842,000)
Interest receivable and similar income: 2,000 792,000
Interest payable and similar charges: ( 11,000 ) 0
Profit(or loss) before tax: 343,000 (2,050,000)
Tax: 219,000 519,000
Profit(or loss) for the financial year: 562,000 (1,531,000)

PARK AIR SYSTEMS LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets: 3 74,000 89,000
Tangible assets: 4 275,000 276,000
Total fixed assets: 349,000 365,000
Current assets
Stocks: 5 7,008,000 7,734,000
Debtors: 6 10,035,000 11,988,000
Cash at bank and in hand: 4,045,000 3,111,000
Total current assets: 21,088,000 22,833,000
Creditors: amounts falling due within one year: 7 ( 6,493,000 ) ( 8,735,000 )
Net current assets (liabilities): 14,595,000 14,098,000
Total assets less current liabilities: 14,944,000 14,463,000
Provision for liabilities: ( 657,000 ) ( 737,000 )
Total net assets (liabilities): 14,287,000 13,726,000
Capital and reserves
Called up share capital: 279,000 279,000
Share premium account: 348,000 348,000
Profit and loss account: 13,660,000 13,099,000
Total Shareholders' funds: 14,287,000 13,726,000

The notes form part of these financial statements

PARK AIR SYSTEMS LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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.

This report was approved by the board of directors on 22 July 2025
and signed on behalf of the board by:

Name: Fiona Thompson
Status: Director

The notes form part of these financial statements

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is typically recognised when goods are physically delivered to the customer, or made available for collection. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. Where turnover recognised is more than amounts invoiced to the customer, the amounts are recorded as amounts recoverable on contracts and included as part of debtors due within one year.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost or valuation less accumulated depreciation and any recognised impairment loss. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows Fixtures and fittings 1 to 5 years Plant and equipment 5 years

    Intangible fixed assets amortisation policy

    Intangible assets are recorded at cost less accumulated amortisation. Amortisation is provided on all intangible assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life

    Other accounting policies

    General basis of accounting Going Concern Impairment Financial Instruments Stock Taxation Interest Long Term Contracts Employee benefits Leases Provisions Warranties

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 133 125

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2024 137,000 137,000
Additions
Disposals
Revaluations
Transfers
At 31 December 2024 137,000 137,000
Amortisation
At 1 January 2024 48,000 48,000
Charge for year 15,000 15,000
On disposals
Other adjustments
At 31 December 2024 63,000 63,000
Net book value
At 31 December 2024 74,000 74,000
At 31 December 2023 89,000 89,000

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 30,000 4,314,000 747,000 5,091,000
Additions 112,000 112,000
Disposals ( 43,000 ) ( 43,000 )
Revaluations
Transfers
At 31 December 2024 30,000 4,383,000 747,000 5,160,000
Depreciation
At 1 January 2024 30,000 4,051,000 734,000 4,815,000
Charge for year 105,000 8,000 113,000
On disposals ( 43,000 ) ( 43,000 )
Other adjustments
At 31 December 2024 30,000 4,113,000 742,000 4,885,000
Net book value
At 31 December 2024 0 270,000 5,000 275,000
At 31 December 2023 0 263,000 13,000 276,000

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Stocks

2024 2023
£ £
Stocks 7,008,000 7,734,000
Total 7,008,000 7,734,000

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Debtors

2024 2023
£ £
Trade debtors 2,025,000 6,993,000
Prepayments and accrued income 2,412,000 3,278,000
Other debtors 5,598,000 1,717,000
Total 10,035,000 11,988,000

PARK AIR SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 515,000 1,932,000
Taxation and social security 183,000 191,000
Accruals and deferred income 5,232,000 6,612,000
Other creditors 563,000
Total 6,493,000 8,735,000