COMPANY REGISTRATION NUMBER:
01400723
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Elite Aerial Services Limited |
|
|
Filleted Unaudited Financial Statements |
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Elite Aerial Services Limited |
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Statement of Financial Position |
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31 March 2025
FIXED ASSETS
|
Tangible assets |
5 |
48,420 |
62,066 |
|
|
|
|
CURRENT ASSETS
|
Stocks |
6 |
6,124 |
6,586 |
|
Debtors |
7 |
134,872 |
52,538 |
|
Cash at bank and in hand |
155,591 |
288,658 |
|
--------- |
--------- |
|
296,587 |
347,782 |
|
|
|
|
|
CREDITORS: amounts falling due within one year |
8 |
251,693 |
256,130 |
|
--------- |
--------- |
|
NET CURRENT ASSETS |
44,894 |
91,652 |
|
-------- |
--------- |
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
93,314 |
153,718 |
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
9 |
44,017 |
88,264 |
|
|
|
|
|
PROVISIONS |
11,804 |
15,344 |
|
-------- |
--------- |
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NET ASSETS |
37,493 |
50,110 |
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-------- |
--------- |
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|
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CAPITAL AND RESERVES
|
Called up share capital |
10 |
1,000 |
1,000 |
|
Profit and loss account |
36,493 |
49,110 |
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-------- |
-------- |
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SHAREHOLDERS FUNDS |
37,493 |
50,110 |
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-------- |
-------- |
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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 comprehensive income 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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
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Elite Aerial Services Limited |
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Statement of Financial Position (continued) |
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31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
28 October 2025
, and are signed on behalf of the board by:
Mr R Adams
Mr R Adams
Director
Company registration number:
01400723
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Elite Aerial Services Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2025
1.
GENERAL INFORMATION
Elite Aerial Services Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are TV, fibre and communication services.
2.
STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. These financial statements only include the results of the individual entity made up to 31 March 2025. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below.
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.
Stock provision
The company sells security systems. As a result it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability.
Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
Research & Development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes.
Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Research & development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Sale of goods Turnover from the sale of security systems is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on installation of the goods. Rendering of services When the outcome of a transaction can be estimated reliably, turnover from maintenance work is recognised by reference to the stage of completion at the balance sheet date. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Interest receivable Interest income is recognised using the effective interest method. Rent receivable Rent receivable is recognised when an invoice is raised at the beginning of the rental period.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
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Plant and machinery |
- |
15% straight line |
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Fixtures and fittings |
- |
15% straight line |
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Motor vehicles |
- |
25% reducing balance |
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Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
15
(2024:
15
).
5.
TANGIBLE ASSETS
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
|
|
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At 1 April 2024 |
29,519 |
5,151 |
169,359 |
204,029 |
|
Additions |
2,400 |
– |
– |
2,400 |
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-------- |
------ |
--------- |
--------- |
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At 31 March 2025 |
31,919 |
5,151 |
169,359 |
206,429 |
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-------- |
------ |
--------- |
--------- |
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Depreciation |
|
|
|
|
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At 1 April 2024 |
26,551 |
5,151 |
110,261 |
141,963 |
|
Charge for the year |
1,271 |
– |
14,775 |
16,046 |
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-------- |
------ |
--------- |
--------- |
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At 31 March 2025 |
27,822 |
5,151 |
125,036 |
158,009 |
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-------- |
------ |
--------- |
--------- |
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Carrying amount |
|
|
|
|
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At 31 March 2025 |
4,097 |
– |
44,323 |
48,420 |
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-------- |
------ |
--------- |
--------- |
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At 31 March 2024 |
2,968 |
– |
59,098 |
62,066 |
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-------- |
------ |
--------- |
--------- |
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6.
STOCKS
|
2025 |
2024 |
|
£ |
£ |
|
Raw materials and consumables |
6,124 |
6,586 |
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------ |
------ |
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7.
DEBTORS
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2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
85,719 |
50,058 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
46,000 |
– |
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Other debtors |
3,153 |
2,480 |
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--------- |
-------- |
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134,872 |
52,538 |
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--------- |
-------- |
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8.
CREDITORS:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
10,030 |
9,960 |
|
Trade creditors |
70,670 |
79,804 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
107,826 |
79,915 |
|
Social security and other taxes |
18,393 |
44,453 |
|
Other creditors |
44,774 |
41,998 |
|
--------- |
--------- |
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251,693 |
256,130 |
|
--------- |
--------- |
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The aggregate secured liabilities totalled: £44,207 (2024: £41,361) Bank loans and overdrafts are secured by a fixed and floating charge. Hire Purchase contracts are secured over the asset which they relate.
9.
CREDITORS:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
9,970 |
20,040 |
|
Other creditors |
34,047 |
68,224 |
|
-------- |
-------- |
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44,017 |
88,264 |
|
-------- |
-------- |
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The aggregate secured liabilities totalled: £44,017 (2024: £88,264) Bank loans and overdrafts are secured by a fixed and floating charge. Hire Purchase contracts are secured over the asset which they relate.
10.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2025 |
2024 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
1,000 |
1,000 |
1,000 |
1,000 |
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------ |
------ |
------ |
------ |
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11.
RELATED PARTY TRANSACTIONS
Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.
12.
PARENT COMPANY
The parent company is RAM 2032 Limited, a company registered in England and Wales. The registered office of the parent company is Picton House Bailey Court, Fforestfach, Swansea, SA5 4DE.