General Information
Air Leakage Testing Limited is a private company, limited by shares, registered in England and Wales, registration number 04368485, registration address 7 Lawson Way, Aylesbury, Bucks, HP18 0UW.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised
in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved
tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
| Plant and Machinery |
15% Reducing Balance
|
| Motor Vehicles |
20% Reducing Balance
|
| Computer Equipment |
25% Reducing Balance
|
|
| 2. |
Employee numbers
Average number of employees during the year was 4 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 March 2024 |
100,266 |
|
75,366 |
|
5,122 |
|
180,754 |
| Additions |
- |
|
41,546 |
|
- |
|
41,546 |
| Disposals |
- |
|
(37,976) |
|
- |
|
(37,976) |
| At 28 February 2025 |
100,266 |
|
78,936 |
|
5,122 |
|
184,324 |
| Depreciation |
| At 01 March 2024 |
82,336 |
|
42,149 |
|
3,895 |
|
128,380 |
| Charge for year |
2,690 |
|
12,731 |
|
307 |
|
15,728 |
| On disposals |
- |
|
(30,185) |
|
- |
|
(30,185) |
| At 28 February 2025 |
85,026 |
|
24,695 |
|
4,202 |
|
113,923 |
| Net book values |
| Closing balance as at 28 February 2025 |
15,240 |
|
54,241 |
|
920 |
|
70,401 |
| Opening balance as at 01 March 2024 |
17,930 |
|
33,217 |
|
1,227 |
|
52,374 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
92,927 |
|
104,046 |
| Amount Owed by Group Undertakings |
0 |
|
6,592 |
|
92,927 |
|
110,638 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
272 |
|
272 |
| Amounts Owed to Group Undertakings |
49,908 |
|
0 |
| Corporation Tax |
85,310 |
|
86,883 |
| Accrued Expenses |
2,701 |
|
1,401 |
| Other Creditors |
4,183 |
|
2,167 |
| VAT |
38,208 |
|
33,325 |
|
180,582 |
|
124,048 |
|
4
|