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Registered number: 03523705
Airconco (UK) Limited
Financial Statements
For The Year Ended 31 December 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03523705
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 895,988 919,061
Investment Properties 5 61,943 61,943
957,931 981,004
CURRENT ASSETS
Stocks 6 285,400 367,400
Debtors 7 436,442 160,616
Cash at bank and in hand 44,739 15,477
766,581 543,493
Creditors: Amounts Falling Due Within One Year 8 (871,141 ) (747,727 )
NET CURRENT ASSETS (LIABILITIES) (104,560 ) (204,234 )
TOTAL ASSETS LESS CURRENT LIABILITIES 853,371 776,770
Creditors: Amounts Falling Due After More Than One Year 9 (21,864 ) (21,864 )
NET ASSETS 831,507 754,906
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 13 762,560 762,560
Profit and Loss Account 68,847 (7,754 )
SHAREHOLDERS' FUNDS 831,507 754,906
Page 1
Page 2
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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Salmon
Director
Mr J Salmon
Director
Mr G Woodward
Director
25/11/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Airconco (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03523705 . The registered office is Unit 4 Bittacy Trading Estate, Bittacy Hill, Mill Hill East, London, NW7 1BA.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5
Leasehold 5
Plant & Machinery 20
Motor Vehicles 20
Fixtures & Fittings 20
Computer Equipment 20
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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Page 4
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 43)
28 43
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 826,767 8,968 263,219 138,823 1,237,777
As at 31 December 2024 826,767 8,968 263,219 138,823 1,237,777
Depreciation
As at 1 January 2024 - 7,389 175,544 135,783 318,716
Provided during the period - 395 21,918 760 23,073
As at 31 December 2024 - 7,784 197,462 136,543 341,789
Net Book Value
As at 31 December 2024 826,767 1,184 65,757 2,280 895,988
As at 1 January 2024 826,767 1,579 87,675 3,040 919,061
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 61,943
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Page 5
6. Stocks
2024 2023
£ £
Finished goods 285,400 367,400
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 421,212 199,388
Other debtors 15,230 (38,772)
436,442 160,616
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 39,710 56,396
Trade creditors 230,070 199,324
Bank loans and overdrafts 8,453 10,756
Other loans 338,030 347,701
Amounts owed to group undertakings (154,239 ) (151,851 )
Amounts owed to participating interests 362,237 207,857
Other creditors 28,947 58,950
Taxation and social security 17,933 18,594
871,141 747,727
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan 22,500 22,500
Amounts owed to group undertakings (336 ) (336 )
Amounts owed to participating interests (300 ) (300 )
21,864 21,864
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 39,710 56,396
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. 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 Richard Salmon - 53,080 - - 53,080
The above loan is unsecured, interest free and repayable on demand. The full amount was repaid before 30th September 2025
13. Reserves
Revaluation Reserve
£
As at 1 January 2024 762,560
As at 31 December 2024 762,560
Page 6