Airports Bureau Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02591149 (England and Wales)

Financial Statements

for the Year Ended 30 June 2020

for

Airports Bureau Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J McAlpine

M C Goodwin

M Roychowdhury

Ms A A C Doisneau

S J Parker

G C Bristow

C Williams

S Sharpe

REGISTERED OFFICE:

Windmill House

91-93 Windmill Road

Sunbury On Thames

Middlesex

TW16 7EF

REGISTERED NUMBER:

02591149 (England and Wales)

AUDITORS:

PB Associates

Chartered Accountants and Chartered Tax Advisers

2 Castle Business Village

Station Road

Hampton

Middlesex

TW12 2BX

FIXED ASSETS

Tangible assets

4

9,446

14,578

CURRENT ASSETS

Debtors

5

355,622

312,205

Cash at bank

322,121

285,100

677,743

597,305

CREDITORS

Amounts falling due within one year

6

167,522

197,784

NET CURRENT ASSETS

510,221

399,521

TOTAL ASSETS LESS CURRENT LIABILITIES

519,667

414,099

CREDITORS

Amounts falling due after more than one year

7

-

(10,832

)

PROVISIONS FOR LIABILITIES

8

(1,118

)

(1,945

)

NET ASSETS

518,549

401,322

CAPITAL AND RESERVES

Called up share capital

9

2,658

2,658

Retained earnings

10

515,891

398,664

SHAREHOLDERS' FUNDS

518,549

401,322

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 Board of Directors and authorised for issue on 21 May 2021 and were signed on its behalf by:

M Roychowdhury - Director

1.	STATUTORY INFORMATION

Airports Bureau Systems Ltd 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 represents amounts receivable for licence fees, maintenance and support, development projects and other specific projects net of VAT and trade discounts. Licence and service revenues are recognised as the right to income accrues throughout the period and are based on the provisions of the underlying contracts. Development revenues are recognised as the work is performed and invoiced in arrears. Transactional revenues are recognised when the transaction takes place.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to the write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment etc 3 - 5 years straight line

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

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.

Pensions

The pension cost charged in the accounts represent the contributions payable by the company during the year.

Going concern

At the time of approving the financial statements, the directors have undertaken an assessment of the adequacy of the resources available to the company and have taken into account the impact of the coronavirus on the company as well as the expected support to businesses available from the government measures in place through the period of disruption caused by coronavirus. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

73,522

Additions

2,337

At 30 June 2020

75,859

DEPRECIATION

At 1 July 2019

58,944

Charge for year

7,469

At 30 June 2020

66,413

NET BOOK VALUE

At 30 June 2020

9,446

At 30 June 2019

14,578

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

168,709

37,291

Other debtors

186,913

274,914

355,622

312,205

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

12,499

22,499

Trade creditors

59,256

44,687

Taxation and social security

49,892

57,345

Other creditors

45,875

73,253

167,522

197,784

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

-

10,832

8.	PROVISIONS FOR LIABILITIES

30.6.20

30.6.19

£

£

Deferred tax

Accelerated capital allowances

1,118

1,945

Deferred

tax

£

Balance at 1 July 2019

1,945

Credit to Income Statement during year

(827

)

Balance at 30 June 2020

1,118

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.20

30.6.19

value:

£

£

2,900

Ordinary

£1

2,658

2,658

10.

RESERVES

Retained

earnings

£

At 1 July 2019

398,664

Profit for the year

117,227

At 30 June 2020

515,891

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ashfaq Sharif BA FCA CTA (Senior Statutory Auditor)

for and on behalf of PB Associates

12.	RELATED PARTY DISCLOSURES

During the year a company under the control of a director charged £Nil (2019: £1,419) to the Company for consultancy services.