Company registration number 02264456 (England and Wales)
AIR FIELD LIGHTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
Affinia
Swift House
Ground Floor
18 Hoffmanns Way
Chelmsford
Essex
UK
CM1 1GU
AIR FIELD LIGHTING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AIR FIELD LIGHTING LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Investments
4
778,505
778,505
Current assets
-
-
Creditors: amounts falling due within one year
6
(11,636)
(11,636)
Net current liabilities
(11,636)
(11,636)
Total assets less current liabilities
766,869
766,869
Capital and reserves
Called up share capital
7
200,103
200,103
Capital redemption reserve
200,000
200,000
Profit and loss reserves
366,766
366,766
Total equity
766,869
766,869
AIR FIELD LIGHTING LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 9 November 2025 and are signed on its behalf by:
Mr Keith Spicer
Director
Company Registration No. 02264456
AIR FIELD LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Air Field Lighting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aviation House, Russell Gardens, Wickford, Essex, SS11 8BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

AIR FIELD LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Carrying value of investment

The carrying valuation of the investment held within the company is based on the valuation of the subsidiary on the purchase date. The judgement is that the subsidiary is still valued the same level at the reporting date.

AIR FIELD LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
778,505
778,505
5
Subsidiaries

Details of the company's subsidiaries at 31 March 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
International Airport Visual and Navigational Aids Limited
England and Wales
Ordinary
100.00
6
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
11,636
11,636

The companies bank borrowings and facilities are secured by way of a debenture dated 11 June 2012 in favour of NatWest Bank PLC.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
B Ordinary of £1 each
1
1
1
1
C Ordinary of £1 each
1
1
1
1
D Ordinary of £1 each
1
1
1
1
103
103
103
103
AIR FIELD LIGHTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
7
Called up share capital
(Continued)
- 6 -
2025
2024 as restated
2025
2024 as restated
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference Shares of £1 each
200,000
200,000
200,000
200,000
Preference shares classified as equity
200,000
200,000
Total equity share capital
200,103
200,103

The Ordinary shares held have full voting, dividend and capital distribution rights.

The B,C, D Ordinary shares and Preference shares held carry no voting and capital distribution rights but are entitled to dividends.

8
Related party transactions
In accordance with FRS 102 Section 33.1A, disclosures have not been given of transactions entered into between two or more members of the group, on the basis that any subsidiary which is a party to the transaction is wholly owned.

9
Directors' transactions

At balance sheet date the company owed £10,437 (2024: £10,437) to the directors.

During the year dividends totalling £20,000 (2024: £20,000) were paid in respect of shares held by the director.

10
Parent company

At the reporting date the company's ultimate parent undertaking is Agl Advancement Ltd, a company registered in England & Wales.

11
Prior period restatement

The irredeemable preference shares have been wrongly shown as debt instrument in prior reporting periods. They have now been reclassified as an equity instrument.

In May 2018 200,000 of the preference shares were bought back for £200,000 therefore we have now correctly created a capital redemption reserve and shown the buyback coming out of distributable reserves.

This adjustment has had no impact on the profit and loss, the total net assets have increased by £200,000.

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