Company No: 04514029 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Emma Louise Wright (Appointed 04 August 2025)
	George Jackson Wright
	Jack Wright

SECRETARY

Emma Louise Wright

REGISTERED OFFICE	Unit 6b Harrier Court Airfield Business Park
	Elvington
	York
	YO41 4EA
	United Kingdom

COMPANY NUMBER

04514029 (England and Wales)

ACCOUNTANT	Morrell Middleton Ltd
	Wellington House
	Aviator Court
	York
	YO30 4UZ

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	50,000		75,000
Tangible assets	4	682,363		679,105
		732,363		754,105
Current assets
Stocks	5	500,000		500,000
Debtors	6	638,516		777,638
Cash at bank and in hand	7	2,296,908		1,406,777
		3,435,424		2,684,415
Creditors: amounts falling due within one year	8	( 747,797)		( 473,549)
Net current assets		2,687,627		2,210,866
Total assets less current liabilities		3,419,990		2,964,971
Provision for liabilities	9	( 60,493)		( 59,540)
Net assets		3,359,497		2,905,431
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		3,359,397		2,905,331
Total shareholders' funds		3,359,497		2,905,431

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Air Supply Limited (registered number: 04514029) were approved and authorised for issue by the Board of Directors on 20 May 2026. They were signed on its behalf by:

George Jackson Wright Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Air Supply Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 6b Harrier Court Airfield Business Park, Elvington, York, YO41 4EA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	3 years straight line
	15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		9

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 September 2024	500,000		500,000
At 31 August 2025	500,000		500,000
Accumulated amortisation
At 01 September 2024	425,000		425,000
Charge for the financial year	25,000		25,000
At 31 August 2025	450,000		450,000
Net book value
At 31 August 2025	50,000		50,000
At 31 August 2024	75,000		75,000

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 September 2024	431,667		676,632		1,108,299
Additions	0		54,460		54,460
Disposals	0		( 38,343)		( 38,343)
At 31 August 2025	431,667		692,749		1,124,416
Accumulated depreciation
At 01 September 2024	0		429,194		429,194
Charge for the financial year	0		50,888		50,888
Disposals	0		( 38,029)		( 38,029)
At 31 August 2025	0		442,053		442,053
Net book value
At 31 August 2025	431,667		250,696		682,363
At 31 August 2024	431,667		247,438		679,105

5. Stocks

	2025		2024
	£		£
Stocks	500,000		500,000

6. Debtors

	2025		2024
	£		£
Trade debtors	424,385		446,690
Other debtors	214,131		330,948
	638,516		777,638

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	2,296,908		1,406,777

Bank facilities are secured by fixed and floating charges over the business premises and other business assets.

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	232,850		136,085
Taxation and social security	327,953		297,242
Other creditors	186,994		40,222
	747,797		473,549

9. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 59,540)		( 68,925)
(Charged)/credited to the Statement of Income and Retained Earnings	( 953)		9,385
At the end of financial year	( 60,493)		( 59,540)

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
51 A ordinary shares of £ 1.00 each	51		51
49 B ordinary shares of £ 1.00 each	49		49
	100		100

The 2024 comparatives are restated. The 51 A ordinary shares of £1.00 each were reported as 49 A ordinary shares of £1.00 each. The 49 B ordinary shares of £1.00 each were reported as 51 B ordinary shares of £1.00 each.