Company Registration No. 10802312 (England and Wales)
Aireworth Property Limited
Unaudited accounts
for the year ended 31 December 2024
Aireworth Property Limited
Unaudited accounts
Contents
Aireworth Property Limited
Statement of financial position
as at 31 December 2024
Investment property
1,523,000
1,285,000
Inventories
444,492
439,024
Cash at bank and in hand
32,664
70,958
Creditors: amounts falling due within one year
(101,444)
(111,028)
Net current assets
488,196
413,366
Total assets less current liabilities
2,011,592
1,698,895
Creditors: amounts falling due after more than one year
(1,676,024)
(1,386,100)
Provisions for liabilities
Deferred tax
(97,452)
(80,395)
Net assets
238,116
232,400
Called up share capital
100
100
Profit and loss account
238,016
232,300
Shareholders' funds
238,116
232,400
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by
Mr Stephen Collier
Director
Company Registration No. 10802312
Aireworth Property Limited
Notes to the Accounts
for the year ended 31 December 2024
Aireworth Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10802312. The registered office is Branwell House, Park Lane, Keighley, West Yorkshire, BD21 4QX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover represents amounts due in respect of rent
Aireworth Property Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
900
369
1,269
At 31 December 2024
900
369
1,269
At 1 January 2024
425
315
740
Charge for the year
119
14
133
At 31 December 2024
544
329
873
At 31 December 2024
356
40
396
At 31 December 2023
475
54
529
Fair value at 1 January 2024
1,285,000
Net gain from fair value adjustments
81,430
At 31 December 2024
1,523,000
Investment property comprises properties held by the company for the purpose of rental income and capital appreciation. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
Amounts falling due within one year
Accrued income and prepayments
3,064
1,512
Other debtors
109,420
12,900
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
95,201
110,482
Aireworth Property Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
809,032
462,731
Other creditors
866,992
923,369
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).