Aerial Corporation Limited Filleted accounts for Companies House (small and micro)

AERIAL CORPORATION LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03739681

AERIAL CORPORATION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2019

AERIAL CORPORATION LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

AERIAL CORPORATION LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	Ms E Znojkiewicz

Registered office	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

AERIAL CORPORATION LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2019

	2019		2018
Note	£	£	£	£

Current assets

Debtors	5	3,841,569	3,844,925
Cash at bank and in hand		1,080	10,402
		------------	------------
		3,842,649	3,855,327

Creditors: amounts falling due within one year	6	( 3,325,897)		( 3,405,745)
		------------		------------
Net current assets			516,752		449,582
			----------		----------
Total assets less current liabilities			516,752		449,582
			----------		----------
Net assets			516,752		449,582
			----------		----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	516,750	449,580
	----------	----------
Shareholder funds	516,752	449,582
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 December 2019 , and are signed on behalf of the board by:

Ms E Znojkiewicz
Director

Company registration number: 03739681

AERIAL CORPORATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2019

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Lynton House, 7 - 12 Tavistock Square, London, WC1H 9BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employees

The average number of persons employed by the company during the year, including directors, amounted to 1 (2018: 1).

5. Debtors

	2019	2018
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,440,191	2,402,697
Other debtors	1,401,378	1,442,228
	------------	------------
	3,841,569	3,844,925
	------------	------------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	3,193	6,074
Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,218,108	3,255,930
Corporation tax	3,943	3,415
Other creditors	100,653	140,326
	------------	------------
	3,325,897	3,405,745
	------------	------------