Airguard Envirocare Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Airguard Envirocare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13521433 . The registered office is Unit 15 Moorfield Works, Upper Villiers Street, Wolverhampton, WV2 4NP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors believe that notwithstanding the net current liabilities of £4,942 , the company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support from the directors will be adequate to meet the company’s needs for a period of at least 12 months from the date of approval of these financial statements.

2.3. Turnover

Turnover is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised at point of sale when the significant risks and rewards of ownership have passed to the buyer.

2.4. Tangible Fixed Assets and Depreciation

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.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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. Any impairment loss is recognised immediately as an expense within the profit or loss.

Leasehold	10% on a reducing balance basis
Plant & Machinery	over 3 years on a straight line basis
Motor Vehicles	20% on a reducing balance basis
Fixtures & Fittings	over 3 years on a straight line basis
Computer Equipment	over 3 years on a straight line basis

2.5. Leasing and Hire Purchase Contracts

Leases in which the company assumes substantially all the risks and rewards of ownership of the leased asset are classified as finance leases. All other leases are classified as operating leases.

Leased assets acquired by way of finance lease are stated on initial recognition at an amount equal to the lower of their fair value and the present value of the minimum lease payments at inception of the lease, including any incremental costs directly attributable to negotiating and arranging the lease. At initial recognition a finance lease liability is recognised equal to the fair value of the leased asset or, if lower, the present value of the minimum lease payments, calculated using the interest rate implicit in the lease.

Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding liability using the rate implicit in the lease. The finance charge is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Contingent rents are charged as expenses in the periods in which they are incurred.

2.6. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Airguard Envirocare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

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

2.8. Foreign Currencies

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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions in a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss in the periods during which services are rendered by employees.

2.11. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Dividends on shares recognised as liabilities are recognised as expenses and are classified within interest payable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2023: 3)

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Airguard Envirocare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	11,233	6,600	43,646	2,242
Additions	-	2,000	-	-

As at 31 December 2024	11,233	8,600	43,646	2,242

Depreciation
As at 1 January 2024	885	1,517	8,729	272
Provided during the period	1,782	2,366	6,983	-

As at 31 December 2024	2,667	3,883	15,712	272

Net Book Value
As at 31 December 2024	8,566	4,717	27,934	1,970

As at 1 January 2024	10,348	5,083	34,917	1,970


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	4,427	68,148
Additions	3,216	5,216

As at 31 December 2024	7,643	73,364

Depreciation
As at 1 January 2024	1,207	12,610
Provided during the period	2,144	13,275

As at 31 December 2024	3,351	25,885

Net Book Value
As at 31 December 2024	4,292	47,479

As at 1 January 2024	3,220	55,538

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	31 December 2024	31 December 2023
	£	£
Motor Vehicles	27,933	34,917

5. Stocks

	31 December 2024	31 December 2023
	£	£
Stock	28,565	38,162

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Airguard Envirocare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	38,840	72,639
Prepayments and accrued income	372	232
Other debtors	1,586	751
Corporation tax recoverable assets	3,946	-
Directors' loan accounts	2,031	-

	46,775	73,622

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	6,273	6,199
Trade creditors	18,535	8,011
Corporation tax	-	11,484
Other taxes and social security	-	13,206
VAT	10,509	-
Net wages	1,253	-
Other creditors	18,636	7,440
Accruals and deferred income	1,375	-
Amounts owed to related parties	37,219	42,066

	93,800	88,406

8. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	23,381	29,654

9. Obligations Under Finance Leases and Hire Purchase

	31 December 2024	31 December 2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	6,273	6,199
Later than one year and not later than five years	23,381	29,654

	29,654	35,853

	29,654	35,853

10. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	2	1

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Airguard Envirocare Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Maqbool Rafique	-	1,875	-	-	1,875
Miss Tracy West	-	155	-	-	155
Mrs Farhat Rafique	-	1	-	-	1

The above loans are unsecured, interest free and repayable on demand.

12. Related Party Transactions

During the year, the company received a loan from Airguard Filters Limited amounting to £nil (2023: £42,066). Repayments were made during the year totalling £4,847 (2023: £nil). As at 31 December 2024, the outstanding loan balance was £37,219 (2023: £42,066). This loan is interest-free and repayable on demand.

Airguard Envirocare Limited and Airguard Filters Limited are considered related parties, as they share a common director, Maqbool Rafique.

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		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		47,479		55,538

			47,479		55,538
CURRENT ASSETS
Stocks	5	28,565		38,162
Debtors	6	46,775		73,622
Cash at bank and in hand		13,518		6,962

		88,858		118,746
Creditors: Amounts Falling Due Within One Year	7	(93,800 )		(88,406 )

NET CURRENT ASSETS (LIABILITIES)			(4,942 )		30,340

TOTAL ASSETS LESS CURRENT LIABILITIES			42,537		85,878

Creditors: Amounts Falling Due After More Than One Year	8		(23,381 )		(29,654 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(3,689 )		(4,070 )

NET ASSETS			15,467		52,154

CAPITAL AND RESERVES
Called up share capital	10		2		1
Profit and Loss Account			15,465		52,153

SHAREHOLDERS' FUNDS			15,467		52,154