Air Technology Systems Limited - Accounts to registrar (filleted) - small 18.2
Air Technology Systems Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018 |
| FOR |
| AIR TECHNOLOGY SYSTEMS LIMITED |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| AIR TECHNOLOGY SYSTEMS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2018 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Logistics House |
| 1325a Stratford Road |
| Hall Green |
| Birmingham |
| West Midlands |
| B28 9HH |
| BANKERS: |
| 868 Washwood Heath Road |
| Washwood Heath |
| Birmingham |
| West Midlands |
| B8 |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| BALANCE SHEET |
| 31 October 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2018 |
| 1. | STATUTORY INFORMATION |
| Air Technology Systems Limited is a |
| 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 |
| Preparation of consolidated financial statements |
| The financial statements contain information about Air Technology Systems Limited as an individual company |
| and do not contain consolidated financial information as the parent of a group. The company is exempt under |
| Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Turnover is recognised over the course of the contract based on the stage of completion of the contract. |
| 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life or, if held under a finance lease, over the lease term, whichever is the shorter. The residual value at the end |
| of the assets useful life is presumed to be nil. |
| Fixtures and fittings - 15% per annum of net book value |
| Motor vehicles - 25% per annum of cost |
| Work in progress |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of |
| activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the |
| valuation of work in progress. |
| 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. |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 November 2017 |
| and 31 October 2018 |
| AMORTISATION |
| At 1 November 2017 |
| Charge for year |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 November 2017 |
| Disposals | ( |
) |
| At 31 October 2018 |
| DEPRECIATION |
| At 1 November 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2018 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 November 2017 |
| and 31 October 2018 |
| NET BOOK VALUE |
| At 31 October 2018 |
| At 31 October 2017 |
| 7. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Work-in-progress |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Bad debt reserve | (74,835 | ) | (114,913 | ) |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | 73,000 | 281,537 |
| Deferred tax asset |
| Accelerated capital allowances |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 11) |
| Trade creditors |
| Corporation tax |
| Social security & other taxes |
| VAT | 84,556 | 209,641 |
| Other creditors |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts (see note 11) |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2018 |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| 12. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Hire purchase contracts | - | 16,295 |
| 13. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary A | 1p | 5 | 5 |
| Ordinary B | 1p | 5 | 5 |
| 10 | 10 |
| 14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| AIR TECHNOLOGY SYSTEMS LIMITED (REGISTERED NUMBER: 02753492) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2018 |
| 15. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2018 and |
| 31 October 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 16. | RELATED PARTY DISCLOSURES |
| During the year the company received management charges amounting to £991,696 (2017 £1,055,280) for wages |
| and overhead recharges from ATS Commercial Projects Limited. At the balance sheet date the company was |
| owed £164,484 (2017 £696,488) from ATS Commercial Projects |
| 17. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |