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AIRFI NETWORKS SERVICES LIMITED |
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Financial Statements |
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for the Year Ended 31 December 2019 |
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AIRFI NETWORKS SERVICES LIMITED |
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Financial Statements |
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for the Year Ended 31 December 2019 |
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AIRFI NETWORKS SERVICES LIMITED (REGISTERED NUMBER: 10701547) |
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Contents of the Financial Statements |
for the year ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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AIRFI NETWORKS SERVICES LIMITED |
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Company Information |
for the year ended 31 December 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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AIRFI NETWORKS SERVICES LIMITED (REGISTERED NUMBER: 10701547) |
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Balance Sheet |
31 December 2019 |
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2019 | 2018 |
Notes | $ | $ | $ | $ |
Fixed assets |
Intangible assets | 4 |
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Current assets |
Debtors | 5 |
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Creditors |
Amounts falling due within one year | 6 |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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Shareholders' funds | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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AIRFI NETWORKS SERVICES LIMITED (REGISTERED NUMBER: 10701547) |
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Notes to the Financial Statements |
for the year ended 31 December 2019 |
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1. | Statutory information |
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Airfi Networks Services Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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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. |
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Research and development |
Expenditure in connection with research activities is charged in the period in which it is incurred. |
Development costs are capitalised to the extent that they can be attributed directly to a specific project, where |
the project's technical and commercial feasibility have been proved and there is reasonable probability that the |
development activity will generate future economic benefits. The capitalised development costs comprise all |
costs directly attributable to the development process. Capitalised development costs are reviewed annually for |
impairment and, in the opinion of the directors, the value is not less than that stated in the financial |
statements. Development costs are amortised over 4 years and are considered to be disposed of when they are |
fully amortised. |
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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. |
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3. | Employees and directors |
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The average number of employees during the year was
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AIRFI NETWORKS SERVICES LIMITED (REGISTERED NUMBER: 10701547) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2019 |
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4. | Intangible fixed assets |
Development |
costs |
$ |
Cost |
At 1 January 2019 |
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Additions |
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Exchange differences |
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At 31 December 2019 |
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Amortisation |
At 1 January 2019 |
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Amortisation for year |
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At 31 December 2019 |
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Net book value |
At 31 December 2019 |
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At 31 December 2018 |
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5. | Debtors: amounts falling due within one year |
2019 | 2018 |
$ | $ |
Tax |
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6. | Creditors: amounts falling due within one year |
2019 | 2018 |
$ | $ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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7. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | $ | $ |
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Ordinary | 1 | 1 | 1 |
AIRFI NETWORKS SERVICES LIMITED (REGISTERED NUMBER: 10701547) |
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Notes to the Financial Statements - continued |
for the year ended 31 December 2019 |
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8. | Reserves |
Retained |
earnings |
$ |
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At 1 January 2019 | ( |
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Deficit for the year | ( |
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Foreign exchange movements | 15,512 |
At 31 December 2019 | ( |
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