Company Registration No. 10706264 (England and Wales)
Airnow Limited
Unaudited accounts
for the year ended 31 December 2024
Airnow Limited
Unaudited accounts
Contents
Airnow Limited
Company Information
for the year ended 31 December 2024
Directors
Inman Breaux
Philip Paul Marcella
Paul Wu
Company Number
10706264 (England and Wales)
Registered Office
SALISBURY HOUSE
LONDON WALL
LONDON
ENGLAND
EC2M 5PS
Airnow Limited
Statement of financial position
as at 31 December 2024
Intangible assets
125,730
275,099
Investments
23,888,754
24,479,661
Debtors
25,430,544
23,633,378
Cash at bank and in hand
13,089
1,833
Creditors: amounts falling due within one year
(5,364,664)
(5,684,459)
Net current assets
20,078,969
17,950,752
Total assets less current liabilities
44,093,453
42,709,641
Creditors: amounts falling due after more than one year
(19,415,876)
(16,588,079)
Net assets
24,677,577
26,121,562
Airnow Limited
Statement of financial position
as at 31 December 2024 (continued)
Called up share capital
9,359,043
8,645,860
Share premium
45,143,176
43,440,914
Fair value reserve
7,031,143
4,865,265
Capital redemption reserve
3,166,632
3,166,632
Profit and loss account
(40,022,417)
(33,997,109)
Shareholders' funds
24,677,577
26,121,562
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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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 30 September 2025 and were signed on its behalf by
Philip Paul Marcella
Director
Company Registration No. 10706264
Airnow Limited
Notes to the Accounts
for the year ended 31 December 2024
Airnow Limited is a private company, limited by shares, registered in England and Wales, registration number 10706264. The registered office is SALISBURY HOUSE, LONDON WALL, LONDON, ENGLAND, EC2M 5PS.
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.
The Company’s primary source of revenue is from management charges.
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts and sales-related taxes.
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:
Computer equipment
3 years
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research activities undertaken with the prospect of gaining technical knowledge and understanding is recognised in the income statement as an expense as incurred.
Development costs that are directly attributable to the design and testing of identifiable and unique products controlled by Group are recognised as intangible assets where the following criteria are met.
Directly attributable costs that are capitalised as part of the asset include the product development employee costs and appropriate portion of relevant overheads.
Other development expenditures that do not meet these criteria are recognised as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period.
Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses.
Airnow Limited
Notes to the Accounts
for the year ended 31 December 2024
The Company has historically relied in raising equity and debt capital to finance its investments. To continue with the current growth plan, further equity and debt capital will be required.
On the basis that the Board expects to be able to raise any additional capital required the Board has concluded that the adoption of the going concern convention in the presentation of these financial statements remains appropriate and accordingly the Financial Statements of the Company are prepared on a going concern basis.
Investments in shares are included at cost less impairment.
At each reporting year end, the carrying value of each investment in a subsidiary is tested for impairment to assess whether the value of the investment carried at no more than its recoverable amount. When carrying out impairment tests these would be based upon future cash flow forecasts for the cash generating unit of each investment and these forecasts would be based upon management judgement.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Total
At 31 December 2024
804,011
Charge for the year
149,369
At 31 December 2024
678,281
At 31 December 2024
125,730
At 31 December 2023
275,099
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Tangible fixed assets
Total
At 31 December 2024
27,927
At 31 December 2024
27,927
Airnow Limited
Notes to the Accounts
for the year ended 31 December 2024
Allotted, called up and fully paid:
109,540,940 Ordinary shares of £0.05 each
5,477,047.00
4,763,865.00
97,049,889 Deferred shares of £0.04 each
3,881,995.56
3,881,995.56
9,359,042.56
8,645,860.56
Shares issued during the period:
14,263,640 Ordinary shares of £0.05 each
713,182
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Transactions with related parties
The Company has taken advantage of the exemption available under paragraph 33.1 A of Financial Reporting Standard 102 not to disclose transactions with other wholly owned members of the group.
There were no other material related party transactions that were not concluded under normal market conditions.
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Average number of employees
During the year the average number of employees was 0 (2023: 2).