Aeris Projects Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08638200 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

Aeris Projects Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A Todd

M Bright

REGISTERED OFFICE:

Suite 100

7 Kendon Business Park

Maritime Close

Rochester

Kent

ME2 4JF

REGISTERED NUMBER:

08638200 (England and Wales)

ACCOUNTANTS:

Professional Trust Group Limited

Chartered Accountants

7 Kendon Business Park

Maritime Close

Rochester

Kent

ME2 4JF

FIXED ASSETS

Tangible assets

4

73,502

60,824

CURRENT ASSETS

Stocks

159,500

183,236

Debtors

5

239,775

80,038

Cash at bank

221

379

399,496

263,653

CREDITORS

Amounts falling due within one year

6

303,207

191,905

NET CURRENT ASSETS

96,289

71,748

TOTAL ASSETS LESS CURRENT LIABILITIES

169,791

132,572

CREDITORS

Amounts falling due after more than one year

7

(155,774

)

(29,947

)

PROVISIONS FOR LIABILITIES

-

(8,000

)

NET ASSETS

14,017

94,625

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

13,717

94,325

14,017

94,625

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

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

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.

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 30 October 2021 and were signed on its behalf by:

C A Todd - Director

M Bright - Director

1.	STATUTORY INFORMATION

Aeris Projects 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 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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 10 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2020

81,312

Additions

32,486

At 31 January 2021

113,798

DEPRECIATION

At 1 February 2020

20,488

Charge for year

19,808

At 31 January 2021

40,296

NET BOOK VALUE

At 31 January 2021

73,502

At 31 January 2020

60,824

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

164,678

80,038

Other debtors

75,097

-

239,775

80,038

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts

50,285

8,389

Hire purchase contracts (see note 8)

19,340

12,942

Trade creditors

100,873

116,194

Taxation and social security

97,677

18,435

Other creditors

35,032

35,945

303,207

191,905

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans

122,496

-

Hire purchase contracts (see note 8)

33,278

29,947

155,774

29,947

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.1.21

31.1.20

£

£

Net obligations repayable:

Within one year

19,340

12,942

Between one and five years

33,278

29,947

52,618

42,889

Non-cancellable

operating leases

31.1.21

31.1.20

£

£

Within one year

1,261

5,044

Between one and five years

-

1,261

1,261

6,305

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2021 and 31 January 2020:

31.1.21

31.1.20

£

£

C A Todd

Balance outstanding at start of year

(31,046

)

(36,601

)

Amounts advanced

103,639

42,859

Amounts repaid

(32,264

)

(37,304

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

40,329

(31,046

)

M Bright

Balance outstanding at start of year

-

-

Amounts advanced

30,557

-

Amounts repaid

(10,128

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

20,429

-

The overdrawn balance for the director's has been written off during the year ended 31 January 2022. Interest of 2.5% has been applied to the outstanding balance, payable to the company.