Air Systems Air Conditioning & Refrigeration Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03744647

AIR SYSTEMS AIR CONDITIONING & REFRIGERATION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

AIR SYSTEMS AIR CONDITIONING & REFRIGERATION LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		52,565		39,486

CURRENT ASSETS

Stocks		2,814	3,564
Debtors	6	38,575	33,920
Cash at bank and in hand		336,959	304,601
		---------	---------
		378,348	342,085

CREDITORS: amounts falling due within one year	7	86,817		47,363
		---------		---------
NET CURRENT ASSETS			291,531		294,722
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			344,096		334,208

CREDITORS: amounts falling due after more than one year	8		49,348		87,428

PROVISIONS	13,141	7,502
	---------	---------
NET ASSETS	281,607	239,278
	---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	1,200	1,200
Profit and loss account	280,407	238,078
	---------	---------
SHAREHOLDERS FUNDS	281,607	239,278
	---------	---------

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 income and retained earnings 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 .

AIR SYSTEMS AIR CONDITIONING & REFRIGERATION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 21 November 2025 , and are signed on behalf of the board by:

Mr C James
Director

Company registration number: 03744647

AIR SYSTEMS AIR CONDITIONING & REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Unit 1 Middle Lodge, Shelton Lane, Yelden, Bedford, MK44 1AH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.

Stock

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 othercosts incurred in bringing the stock to its present location and condition.

Long term contracts

Long term contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract, and credit taken for the profit earned to date when the outcome of the contracts can be assessed with reasonable certainty. Where contract losses are foreseen, these losses are provided for in full at the balance sheet date. The amount by which the turnover exceeds payments on account is included in debtors and to the extent that payments on account exceed turnover, the excess is included in creditors. The amount of long term contracts, at cost net of amounts transferred to cost of sales, less provision for foreseeable losses and payments on account not matched with turnover, is included within stocks.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

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:

Plant & Machinery	-	2 years in equal annual amounts / 20% straight line
Office Equipment	-	3 years in equal annual amounts
Motor Vehicles	-	Up to 3 years in equal annual amounts

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. TANGIBLE ASSETS

	Plant and machinery	Office Equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	13,201	19,720	100,820	133,741
Additions	857	–	36,647	37,504
	--------	--------	---------	---------
At 31 March 2025	14,058	19,720	137,467	171,245
	--------	--------	---------	---------
Depreciation
At 1 April 2024	13,179	19,320	61,756	94,255
Charge for the year	171	185	24,069	24,425
	--------	--------	---------	---------
At 31 March 2025	13,350	19,505	85,825	118,680
	--------	--------	---------	---------
Carrying amount
At 31 March 2025	708	215	51,642	52,565
	--------	--------	---------	---------
At 31 March 2024	22	400	39,064	39,486
	--------	--------	---------	---------

6. DEBTORS

	2025	2024
	£	£
Trade debtors	36,410	30,069
Other debtors	2,165	3,851
	--------	--------
	38,575	33,920
	--------	--------

7. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,354	10,169
Trade creditors	23,352	4,947
Corporation tax	27,913	9,230
Social security and other taxes	13,955	10,810
Other creditors	11,243	12,207
	--------	--------
	86,817	47,363
	--------	--------

8. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,888	13,158
Other creditors	47,460	74,270
	--------	--------
	49,348	87,428
	--------	--------

9. RELATED PARTY TRANSACTIONS

At the 31 March 2025 the majority shareholders were owed £47,460 (2024 - £74,270).