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Registration number: 12558369

Aircards Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Aircards Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 10

 

Aircards Ltd

(Registration number: 12558369)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

64,149

43,726

Tangible assets

5

81,559

80,799

Investments

6

7,439

7,439

 

153,147

131,964

Current assets

 

Debtors

8

1,821,217

1,367,772

Cash at bank and in hand

 

152,995

97,777

 

1,974,212

1,465,549

Creditors: Amounts falling due within one year

9

(1,565,641)

(627,969)

Net current assets

 

408,571

837,580

Total assets less current liabilities

 

561,718

969,544

Creditors: Amounts falling due after more than one year

9

(260,304)

-

Net assets

 

301,414

969,544

Capital and reserves

 

Called up share capital

10

9,500

9,500

Retained earnings

291,914

960,044

Shareholders' funds

 

301,414

969,544

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Aircards Ltd

(Registration number: 12558369)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 22 August 2025 and signed on its behalf by:
 

.........................................
Mr Michael Watson
Director

   
     
 

Aircards Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 Waterloo Square
Newcastle Upon Tyne
NE1 4DR
United Kingdom

These financial statements were authorised for issue by the Board on 22 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Aircards Ltd

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

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Computer Equipment

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Aircards Ltd

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

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Aircards Ltd

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 25).

 

Aircards Ltd

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2024

47,480

47,480

Additions internally developed

27,953

27,953

At 31 December 2024

75,433

75,433

Amortisation

At 1 January 2024

3,754

3,754

Amortisation charge

7,530

7,530

At 31 December 2024

11,284

11,284

Carrying amount

At 31 December 2024

64,149

64,149

At 31 December 2023

43,726

43,726

5

tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

116,219

-

116,219

Additions

13,045

16,866

29,911

At 31 December 2024

129,264

16,866

146,130

Depreciation

At 1 January 2024

35,420

-

35,420

Charge for the year

26,848

2,303

29,151

At 31 December 2024

62,268

2,303

64,571

Carrying amount

At 31 December 2024

66,996

14,563

81,559

At 31 December 2023

80,799

-

80,799

 

Aircards Ltd

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

6

Investments

2024
£

2023
£

Investments in subsidiaries

7,439

7,439

Subsidiaries

£

Cost or valuation

At 1 January 2024

7,439

Provision

Carrying amount

At 31 December 2024

7,439

At 31 December 2023

7,439

7

stocks

2024
£

2023
£

8

debtors

Current

2024
£

2023
£

Trade debtors

1,326,982

882,725

Prepayments

49,060

30,640

Other debtors

445,175

454,407

 

1,821,217

1,367,772

 

Aircards Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

112,009

39,167

Trade creditors

 

258,674

242,695

Taxation and social security

 

133,639

179,556

Accruals and deferred income

 

179,332

162,836

Other creditors

 

881,987

3,715

 

1,565,641

627,969

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

260,304

-

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

260,304

-

Current loans and borrowings

 

Aircards Ltd

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

2024
£

2023
£

Bank overdrafts

267

-

Other borrowings

111,742

39,167

112,009

39,167