Company Registration No. 04914201 (England and Wales)
AEIRTEC LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
PAGES FOR FILING WITH REGISTRAR
AEIRTEC LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AEIRTEC LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2020
30 September 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
39,684
12,604
Current assets
Stocks
5,477
5,052
Debtors
4
36,116
36,180
Cash at bank and in hand
91,352
57,103
132,945
98,335
Creditors: amounts falling due within one year
5
(47,150)
(15,626)
Net current assets
85,795
82,709
Total assets less current liabilities
125,479
95,313
Provisions for liabilities
(7,540)
(2,395)
Net assets
117,939
92,918
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
117,839
92,818
Total equity
117,939
92,918
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
AEIRTEC LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2020
30 September 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 June 2021
Dr S A J Kilfeather
Director
Company Registration No. 04914201
AEIRTEC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 3 -
1
Accounting policies
Company information
Aeirtec Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Suite 1, Ground Floor, The Smokehouses, 7-8 Clifford Street, North Shields, Tyne and Wear, NE30 1JE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
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.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% straight line
Fixtures, fittings & equipment
33% straight line
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year
.
AEIRTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
4
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2019
104,072
Additions
41,237
At 30 September 2020
145,309
Depreciation and impairment
At 1 October 2019
91,468
Depreciation charged in the year
14,157
At 30 September 2020
105,625
Carrying amount
At 30 September 2020
39,684
At 30 September 2019
12,604
AEIRTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2020
- 5 -
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
26,324
26,719
Other debtors
9,792
9,461
36,116
36,180
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
18,531
142
Taxation and social security
1,015
3,329
Other creditors
27,604
12,155
47,150
15,626
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100