REGISTERED NUMBER: 02401944 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2026

for

Angus-Air Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Watson

Mr J F Watson

Mrs P Watson

Mrs D Beeby

SECRETARY:

Mr J F Watson

REGISTERED OFFICE:

Watson House

Staithes Road, Dunston

Gateshead

Tyne and Wear

NE11 9DR

REGISTERED NUMBER:

02401944 (England and Wales)

ACCOUNTANTS:

Douglas Shaw Limited

7 Brenkley Way

Blezard Business Park

Seaton Burn

Tyne and Wear

NE13 6DS

FIXED ASSETS

Tangible assets

4

24,524

32,698

CURRENT ASSETS

Stocks

481

595

Debtors

5

189,906

290,998

Cash at bank

368,168

503,369

558,555

794,962

CREDITORS

Amounts falling due within one year

6

195,761

400,628

NET CURRENT ASSETS

362,794

394,334

TOTAL ASSETS LESS CURRENT LIABILITIES

387,318

427,032

PROVISIONS FOR LIABILITIES

648

2,342

NET ASSETS

386,670

424,690

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

376,670

414,690

386,670

424,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2026 and were signed on its behalf by:

Mr A J Watson - Director

1.	STATUTORY INFORMATION

Angus-Air Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Over the term of the lease

Fixtures, fittings & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

to

fittings

Motor

property

& equipment

vehicles

Totals

£

£

£

£

COST

At 1 March 2025

and 28 February 2026

29,994

65,574

119,906

215,474

DEPRECIATION

At 1 March 2025

29,993

61,247

91,536

182,776

Charge for year

-

1,082

7,092

8,174

At 28 February 2026

29,993

62,329

98,628

190,950

NET BOOK VALUE

At 28 February 2026

1

3,245

21,278

24,524

At 28 February 2025

1

4,327

28,370

32,698

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

149,303

275,080

Directors' current accounts

29,822

4,587

Prepayments and accrued income

10,781

11,331

189,906

290,998

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade creditors

158,123

335,485

Tax

23,989

31,714

Social security and other taxes

10,777

16,308

Accruals and deferred income

2,872

17,121

195,761

400,628

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2026 and 28 February 2025:

28.2.26

28.2.25

£

£

Mr A J Watson

Balance outstanding at start of year

4,587

-

Amounts advanced

126,235

4,587

Amounts repaid

(101,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

29,822

4,587