Airfield Concrete Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14010072

Airfield Concrete Limited

Filleted Unaudited Financial Statements

Period from 31 March 2023 to

29 March 2024

Airfield Concrete Limited

Financial Statements

Period ended 29 March 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Airfield Concrete Limited

Statement of Financial Position

29 March 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		88,062		405

Current assets

Stocks		25,000	12,500
Debtors	6	42,519	7,009
Cash at bank and in hand		3,957	1,326
		--------	--------
		71,476	20,835

Creditors: amounts falling due within one year	7	107,136		23,725
		----------		--------
Net current liabilities			35,660		2,890
			--------		-------
Total assets less current liabilities			52,402		( 2,485)

Creditors: amounts falling due after more than one year	8	57,210	5,000
		--------	-------
Net liabilities		( 4,808)	( 7,485)
		--------	-------

Capital and reserves

Called up share capital	2	2
Profit and loss account	( 4,810)	( 7,487)
	-------	-------
Shareholders deficit	( 4,808)	( 7,485)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Airfield Concrete Limited

Statement of Financial Position (continued)

29 March 2024

These financial statements were approved by the board of directors and authorised for issue on 21 August 2025 , and are signed on behalf of the board by:

Mr J Hargrave
Director

Company registration number: 14010072

Airfield Concrete Limited

Notes to the Financial Statements

Period ended 29 March 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Spaldington Airfield, Spaldington, Goole, East Yorkshire, DN14 7NG, United Kingdom.

2. 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'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The company's balance sheet shows net liabilities of £4,808 and a trading loss after tax of£12,297 arose during the year. The Director will continue to support the company. The going concern basis is therefore appropriate.

Going concern

The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the director has considered the effect of these matters on the company with the information available to it and does not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the director has prepared these financial statements on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the sales invoice is raised.

Current & deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date . Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	10% reducing balance
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 4 (2023: 1 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 31 March 2023	450	–	450
Additions	18,078	79,123	97,201
	--------	--------	--------
At 29 March 2024	18,528	79,123	97,651
	--------	--------	--------
Depreciation
At 31 March 2023	45	–	45
Charge for the period	1,302	8,242	9,544
	--------	--------	--------
At 29 March 2024	1,347	8,242	9,589
	--------	--------	--------
Carrying amount
At 29 March 2024	17,181	70,881	88,062
	--------	--------	--------
At 30 March 2023	405	–	405
	--------	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	2,189	4,702
Other debtors	40,330	2,307
	--------	-------
	42,519	7,009
	--------	-------

Other debtors includes intercompany balance owing from Airfield Aggregates Limited of £22,330.

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	11,667	–
Trade creditors	54,184	1,760
Social security and other taxes	9,619	2,793
Other creditors	31,666	19,172
	----------	--------
	107,136	23,725
	----------	--------

Other creditors includes Hire Purchase due within one year £25,824, Director's loan amount owing and accruals £2,500.

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	7,887	5,000
Other creditors	49,323	–
	--------	-------
	57,210	5,000
	--------	-------

Other creditors includes Hire Purchase owing.

9. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Hargrave	2,307	26,612	( 32,261)	( 3,342)
	-------	--------	--------	-------

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Hargrave	–	16,989	( 14,682)	2,307
	----	--------	--------	-------