Air 4 Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06084563 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 March 2021

for

Air 4 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Rowley

SECRETARY:

J A Jackson

REGISTERED OFFICE:

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

REGISTERED NUMBER:

06084563 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Tangible assets

4

-

270

CURRENT ASSETS

Debtors

5

3,069

9,806

Cash at bank and in hand

42,991

51,212

46,060

61,018

CREDITORS

Amounts falling due within one year

6

2,088

12,699

NET CURRENT ASSETS

43,972

48,319

TOTAL ASSETS LESS CURRENT
LIABILITIES

43,972

48,589

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

43,971

48,588

SHAREHOLDERS' FUNDS

43,972

48,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 4 June 2021 and were signed by:

J Rowley - Director

1.	STATUTORY INFORMATION

Air 4 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2020

and 31 March 2021

3,835

863

4,698

DEPRECIATION

At 1 April 2020

3,565

863

4,428

Charge for year

270

-

270

At 31 March 2021

3,835

863

4,698

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

270

-

270

5.

DEBTORS

31.3.21

31.3.20

£

Amounts falling due within one year:

Trade debtors

-

7,266

Directors' current accounts

361

-

VAT

38

1,140

399

8,406

Amounts falling due after more than one year:

Tax

2,670

1,400

Aggregate amounts

3,069

9,806

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Trade creditors

115

5,210

Tax

853

6,331

Directors' current accounts

-

138

Accrued expenses

1,120

1,020

2,088

12,699

Air 4 Limited - Accounts to registrar (filleted) - small 18.2

Air 4 Limited - Accounts to registrar (filleted) - small 18.2