REGISTERED NUMBER: 02762764 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2025

for

Air Handlers (Northern) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M G W Higgitt

D N South

Mrs D A Coyle

SECRETARY:

Mrs D A Coyle

REGISTERED OFFICE:

Alfred Proctor House

Bute Street

Salford

Manchester

Greater Manchester

M50 1DU

REGISTERED NUMBER:

02762764 (England and Wales)

ACCOUNTANTS:

TF & Partners Ltd t/a Hatherlows

Chartered Accountants

The Studio, Hatherlow House

Hatherlow

Romiley

Stockport

Cheshire

SK6 3DY

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

2,210,753

2,362,958

2,210,753

2,362,958

CURRENT ASSETS

Stocks

632,281

658,671

Debtors

7

764,746

1,014,530

Cash at bank and in hand

1,596,242

1,080,046

2,993,269

2,753,247

CREDITORS

Amounts falling due within one year

8

1,464,448

1,376,147

NET CURRENT ASSETS

1,528,821

1,377,100

TOTAL ASSETS LESS CURRENT LIABILITIES

3,739,574

3,740,058

PROVISIONS FOR LIABILITIES

96,767

96,767

NET ASSETS

3,642,807

3,643,291

CAPITAL AND RESERVES

Called up share capital

550

550

Revaluation reserve

10

864,824

894,646

Capital redemption reserve

150

150

Retained earnings

2,777,283

2,747,945

SHAREHOLDERS' FUNDS

3,642,807

3,643,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 25 July 2025 and were signed on its behalf by:

M G W Higgitt - Director

1.	STATUTORY INFORMATION

Air Handlers (Northern) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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 items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2024 - 67 ) .

5.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 April 2024

and 31 March 2025

50,000

AMORTISATION

At 1 April 2024

and 31 March 2025

50,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

1,950,000

947,022

271,795

91,183

3,260,000

Additions

-

4,756

12,709

-

17,465

Disposals

-

-

-

(19,995

)

(19,995

)

At 31 March 2025

1,950,000

951,778

284,504

71,188

3,257,470

DEPRECIATION

At 1 April 2024

62,903

565,023

191,434

77,682

897,042

Charge for year

62,903

92,727

10,363

2,176

168,169

Eliminated on disposal

-

-

-

(18,494

)

(18,494

)

At 31 March 2025

125,806

657,750

201,797

61,364

1,046,717

NET BOOK VALUE

At 31 March 2025

1,824,194

294,028

82,707

9,824

2,210,753

At 31 March 2024

1,887,097

381,999

80,361

13,501

2,362,958

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2003

257,531

-

-

-

257,531

Valuation in 2007

339,933

-

-

-

339,933

Valuation in 2010

(462,000

)

-

-

-

(462,000

)

Valuation in 2023

329,020

-

-

-

329,020

Cost

1,485,516

951,778

284,504

71,188

2,792,986

1,950,000

951,778

284,504

71,188

3,257,470

If freehold property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

1,485,516

1,485,516

Aggregate depreciation

492,186

464,589

Value of land in freehold land and buildings

193,000

193,000

Freehold land and buildings were valued on an open market value basis on 27 July 2015 by Chapman Law Chartered Surveyors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

702,551

949,629

Other debtors

62,195

64,901

764,746

1,014,530

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

766,216

552,590

Taxation and social security

182,948

337,802

Other creditors

515,284

485,755

1,464,448

1,376,147

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans and overdrafts are secured by a mortgage dated 26 March 2014 creating a fixed charge over the company's freehold property and a floating charge over all other property and undertakings.

Hire purchase balances are secured on the assets to which they relate.

10.

RESERVES

Revaluatio

reserve

£

At 1 April 2024

894,646

Profit & loss account transfer

(29,822

)

At 31 March 2025

864,824

11.	POST BALANCE SHEET EVENTS

The financial statements were authorised for issue by the board of directors on 25 July 2025.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr D Pinchbeck.