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REGISTERED NUMBER: NI680578 (Northern Ireland)















EXI-TITE AIR FILTRATION LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


EXI-TITE AIR FILTRATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs V Robinson
Mr A S Robinson



REGISTERED OFFICE: 15A Grange Road
Ballygawley
Dungannon
Co. Tyrone
BT70 2LP



REGISTERED NUMBER: NI680578 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
45-48 High Street
Portadown
Co. Armagh
BT62 1LB

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EXI-TITE AIR FILTRATION LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


25 April 2024

EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 53,494 60,434
Tangible assets 5 9,220 10,264
62,714 70,698

CURRENT ASSETS
Stocks 38,837 42,488
Debtors 6 101,089 68,967
Cash at bank 15,744 44,002
155,670 155,457
CREDITORS
Amounts falling due within one year 7 121,122 94,312
NET CURRENT ASSETS 34,548 61,145
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,262

131,843

CREDITORS
Amounts falling due after more than one
year

8

(86,141

)

(125,203

)

PROVISIONS FOR LIABILITIES (1,752 ) (1,950 )
NET ASSETS 9,369 4,690

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9,269 4,590
9,369 4,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

BALANCE SHEET - continued
31 DECEMBER 2023


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 25 April 2024 and were signed on its behalf by:




Mr A S Robinson - Director



Mrs V Robinson - Director


EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Exi-tite Air Filtration Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Exemption from preparing group accounts
Exi-tite Air Filtration Ltd is part of a small group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation less any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method. The rates applicable are as follows:

Plant and machinery - 14%
Office equipment - 20%
Computer equipment - 20%

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.


EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 69,398
AMORTISATION
At 1 January 2023 8,964
Charge for year 6,940
At 31 December 2023 15,904
NET BOOK VALUE
At 31 December 2023 53,494
At 31 December 2022 60,434

EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Office &
Plant & Computer
machinery Equipment Totals
£    £    £   
COST
At 1 January 2023 3,000 8,527 11,527
Additions - 1,215 1,215
At 31 December 2023 3,000 9,742 12,742
DEPRECIATION
At 1 January 2023 176 1,087 1,263
Charge for year 429 1,830 2,259
At 31 December 2023 605 2,917 3,522
NET BOOK VALUE
At 31 December 2023 2,395 6,825 9,220
At 31 December 2022 2,824 7,440 10,264

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 100,275 66,802
Other debtors 814 2,165
101,089 68,967

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 101,316 79,471
Taxation and social security 15,053 10,003
Other creditors 4,753 4,838
121,122 94,312

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 86,141 123,308
Other creditors - 1,895
86,141 125,203

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan - 1,895

EXI-TITE AIR FILTRATION LTD (REGISTERED NUMBER: NI680578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. SECURED DEBTS

Any bank overdraft arising is secured by way of a fixed and floating charge over the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the company had a loan amounting to £2,186 (£1,895 at 01.01.23) from members of key management personnel.

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due within one year at the year end date.

11. RELATED PARTY DISCLOSURES

The company has availed of the exemption to not disclose transactions with group undertakings under
Section 33 of FRS102.