REGISTERED NUMBER: 04591575 (England and Wales)

AIRMAX REMOTE LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Director:

R H Perham

Registered office:

Unit 1 Avenue Terrace

Avenue Road

Aston

Birmingham

West Midlands

B6 4DY

Registered number:

04591575 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

CUBO Birmingham

4th Floor

Two Chamberlain Square

Birmingham

West Midlands

B3 3AX

Fixed assets

Intangible assets

4

1,596,558

1,576,838

Tangible assets

5

825,118

357,116

2,421,676

1,933,954

Current assets

Stocks

6

227,502

223,507

Debtors

7

1,796,844

1,832,215

Cash at bank

2,149

292,690

2,026,495

2,348,412

Creditors

Amounts falling due within one year

8

730,654

822,924

Net current assets

1,295,841

1,525,488

Total assets less current liabilities

3,717,517

3,459,442

Creditors

Amounts falling due after more than one year

9

221,027

299,022

Net assets

3,496,490

3,160,420

Capital and reserves

Called up share capital

10

100

100

Retained earnings

3,496,390

3,160,320

Shareholders' funds

3,496,490

3,160,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

R H Perham - Director

1.	Statutory information

Airmax Remote Limited is private company, limited by shares, registered in England and Wales. The company's registered office address is Unit 1 Avenue Terrace, Avenue Road, Aston, Birmingham, West Midlands, B6 4DY.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Turnover is accrued or deferred, dependent on the terms of the agreement and is recognised in the period in which it relates.

Operating leases

The company as lessor:

Income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

The company as lessee:

Rentals paid under operating leases are charged to the Income Statement on a straight-line basis over the lease term.

Sale and leaseback

Where a sale and leaseback transaction results in a finance lease, no gain is immediately recognised for any excess of sales proceeds over the carrying amount of the asset. Instead, the proceeds are presented as a liability and subsequently measured at amortised cost using the effective interest method.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite life. Patents and licences are amortised evenly over their estimated useful life.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use.

An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Plant and machinery - 25% on cost and 10% on cost

Fixtures and fittings - 25% on cost and 10% on cost

Motor vehicles - 25% on cost

Computer equipment - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors, creditors, loans with third parties and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised costs.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Pensions

The company contributes to defined contribution pension plans for its employees. A defined contribution pension plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

3.	Employees and directors

The average number of employees during the year was 19 (2024 - 19 ) .

4.	Intangible fixed assets

Other

intangible

assets

£

Cost

At 1 April 2024

1,767,545

Additions

78,658

At 31 March 2025

1,846,203

Amortisation

At 1 April 2024

190,707

Charge for year

58,938

At 31 March 2025

249,645

Net book value

At 31 March 2025

1,596,558

At 31 March 2024

1,576,838

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

428,035

38,013

71,029

85,373

622,450

Additions

453,792

-

-

218,209

672,001

At 31 March 2025

881,827

38,013

71,029

303,582

1,294,451

Depreciation

At 1 April 2024

130,707

13,704

44,041

76,882

265,334

Charge for year

178,914

3,241

17,757

4,087

203,999

At 31 March 2025

309,621

16,945

61,798

80,969

469,333

Net book value

At 31 March 2025

572,206

21,068

9,231

222,613

825,118

At 31 March 2024

297,328

24,309

26,988

8,491

357,116

Included within plant and machinery are assets leased to third parties under operating lease receivables at a cost of £854,682 (2024: £401,443 ) less accumulated depreciation of £287,310 (2024: £110,904).

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

2025

2024

£

£

Motor vehicles

9,231

26,988

6.

Stocks

2025

2024

£

£

Finished goods for resale

181,999

180,834

Work in progress

45,503

42,673

227,502

223,507

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

402,230

473,562

Amounts owed by group undertakings

1,258,999

1,264,284

Corporation tax

204,598

44,643

Accrued income

(119,807

)

-

Prepayments

50,824

49,726

1,796,844

1,832,215

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

122,417

106,667

Hire purchase contracts

42,688

11,614

Trade creditors

312,297

351,189

Taxation and social security

73,878

113,225

Other creditors

179,374

240,229

730,654

822,924

In 2021, the company received a loan facility which relates to the Coronavirus Business Interruption Loan Scheme (CBILS). A guarantee from the UK Government to Bank of Scotland has been provided for the bank loans under CBIL scheme. Interest is charged at 2.90% - 3.30% per annum on the respective loan facilities.

Net obligations under hire purchase contracts are secured against the assets to which they relate.

9.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans

88,372

229,317

Hire purchase contracts

-

42,688

Other creditors

132,655

27,017

221,027

299,022

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

11.	Transactions with directors

As at 31 March 2025, the company owed the director £2,139 (2024: £61). The loan is interest-free and repayable on demand.

12.	Ultimate controlling party

The Ultimate parent company and controlling party is Airmax Holdings Limited, a company registered and incorporated in England and Wales.

13.	Pension contributions

The company contributes to defined contribution pension schemes. The assets of the schemes are held separately from those of the company in an independent administered fund. The pension cost charge, which represents contributions payable by the company to the fund, amounted to £16,032 (2024: £9,398). Contributions totalling £7,156 (2024: £nil ) were payable to the fund at the balance sheet date and included in creditors.