Airey Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04719218

Airey Limited

Filleted Unaudited Financial Statements

31 March 2025

Airey Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	2	2
Tangible assets	6	33,700	5,007
Investments	7	589,579	923,946
		---------	---------
		623,281	928,955

Current assets

Debtors	8	20,618	15,787
Cash at bank and in hand		932,760	589,300
		---------	---------
		953,378	605,087

Creditors: amounts falling due within one year	9	57,922		62,218
		---------		---------
Net current assets			895,456	542,869
			------------	------------
Total assets less current liabilities			1,518,737	1,471,824

Provisions

Taxation including deferred tax	6,813	194
	------------	------------
Net assets	1,511,924	1,471,630
	------------	------------

Airey Limited

Statement of Financial Position (continued)

31 March 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	10	20,853	20,853
Share premium account		972,255	972,255
Profit and loss account		518,816	478,522
		------------	------------
Shareholders funds		1,511,924	1,471,630
		------------	------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:

Mr JRA Crabtree

Director

Company registration number: 04719218

Airey Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The White House, School Lane, Crowle, Worcester, WR7 4AR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Subsequently investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be be reliably measurable on an on-going basis.

Disclosure exemptions

The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Rental income is recognised on a time apportioned basis for the period in question.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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:

Fixtures & fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 2 (2024: 4 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	2
	----
Amortisation
At 1 April 2024 and 31 March 2025	–
	----
Carrying amount
At 31 March 2025	2
	----
At 31 March 2024	2
	----

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	6,929	25,055	10,906	42,890
Additions	–	32,926	910	33,836
Disposals	( 6,929)	( 25,055)	( 10,906)	( 42,890)
	-------	--------	--------	--------
At 31 March 2025	–	32,926	910	33,836
	-------	--------	--------	--------
Depreciation
At 1 April 2024	6,849	20,597	10,437	37,883
Charge for the year	12	1,115	253	1,380
Disposals	( 6,861)	( 21,712)	( 10,554)	( 39,127)
	-------	--------	--------	--------
At 31 March 2025	–	–	136	136
	-------	--------	--------	--------
Carrying amount
At 31 March 2025	–	32,926	774	33,700
	-------	--------	--------	--------
At 31 March 2024	80	4,458	469	5,007
	-------	--------	--------	--------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	923,946
Disposals	( 331,325)
Revaluations	( 3,042)
	---------
At 31 March 2025	589,579
	---------
Impairment
At 1 April 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	589,579
	---------
At 31 March 2024	923,946
	---------

Investments consist of investment properties £559,156 (2024: £890,481) and quoted shares £30,423 (2024: £33,465). The investment properties are valued by the directors as at the balance sheet date on the basis of current rental yield, using yields derived from similar properties. The historical cost equivalent of investment property is £537,228 and £50,374 for quoted shares.

8. Debtors

	2025	2024
	£	£
Trade debtors	8,721	12,119
Prepayments and accrued income	11,897	3,668
	--------	--------
	20,618	15,787
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	20,142	17,353
Corporation tax	22,734	26,177
Social security and other taxes	3,194	9,563
Other creditors	11,852	9,125
	--------	--------
	57,922	62,218
	--------	--------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
£1 A Ordinary shares of £ 1 each	5,333	5,333	5,333	5,333
£1 B Ordinary shares of £ 1 each	4,000	4,000	4,000	4,000
£1 C Ordinary shares of £ 1 each	3,240	3,240	3,240	3,240
£1 D Ordinary shares of £ 1 each	600	600	600	600
£1 E Ordinary shares of £1 each	3,240	3,240	3,240	3,240
£1 F Ordinary shares of £1 each	3,240	3,240	3,240	3,240
£1 G Ordinay shares of £1 each	600	600	600	600
£1 H Ordinary shares of £1 each	600	600	600	600
	--------	--------	--------	--------
	20,853	20,853	20,853	20,853
	--------	--------	--------	--------

11. Directors' advances, credits and guarantees

At the period end the company owed J R A Crabtree £Nil (2024: £Nil). This is unsecured, interest free with no formal repayment date and arose from advances of £Nil (2024: £Nil) and repayments of £Nil (2024: £4,220).