IRIS Accounts Production v25.1.0.734 NI646825 Board of Directors 1.1.24 31.12.24 31.12.24 30/4/2025 0 0 false true false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh NI646825 2023-12-31 NI646825 2024-12-31 NI646825 2024-01-01 2024-12-31 NI646825 2022-12-31 NI646825 2023-01-01 2023-12-31 NI646825 2023-12-31 NI646825 ns15:NorthernIreland 2024-01-01 2024-12-31 NI646825 ns14:PoundSterling 2024-01-01 2024-12-31 NI646825 ns10:Director1 2024-01-01 2024-12-31 NI646825 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI646825 ns10:SmallEntities 2024-01-01 2024-12-31 NI646825 ns10:Audited 2024-01-01 2024-12-31 NI646825 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 NI646825 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI646825 ns10:FullAccounts 2024-01-01 2024-12-31 NI646825 ns5:CurrentFinancialInstruments 2024-12-31 NI646825 ns5:CurrentFinancialInstruments 2023-12-31 NI646825 ns5:ShareCapital 2024-12-31 NI646825 ns5:ShareCapital 2023-12-31 NI646825 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 NI646825 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 NI646825 ns10:RegisteredOffice 2024-01-01 2024-12-31 NI646825 ns5:CostValuation 2023-12-31 NI646825 ns5:AdditionsToInvestments 2024-12-31 NI646825 ns5:CostValuation 2024-12-31 NI646825 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 NI646825 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 NI646825 ns5:CurrentFinancialInstruments 2024-01-01 2024-12-31

REGISTERED NUMBER: NI646825 (Northern Ireland)

FLAIR SHOWERS LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Statement of Financial Position | 1 |

| Notes to the Financial Statements | 2 |

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

NON-CURRENT ASSETS

Investments | 5 | 996,338 |  | 642,526 |  |

CURRENT ASSETS

Stocks | 6 | 1,070,641 |  | 566,973 |  |

Receivables: amounts falling due within one year | 7 | 2,259,118 |  | 3,367,732 |  |

3,329,759 |  | 3,934,705 |  |

PAYABLES

Amounts falling due within one year | 8 | (4,266,044 | ) | (4,581,774 | ) |

NET CURRENT LIABILITIES | (936,285 | ) | (647,069 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 60,053 |  | (4,543 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 59,953 |  | (4,643 | ) |

60,053 |  | (4,543 | ) |

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 April 2025 and were signed on its behalf by:

Martin Murphy - Director

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | STATUTORY INFORMATION

| Flair Showers Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

| Registered number: | NI646825

| Registered office: | C/O John Riddel & Son Ltd

| 1 Dagger Road

| Lisburn

| Co. Down

| BT28 2TJ

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements are prepared on a going concern basis under the historical cost convention, modified where necessary to include the revaluation of certain fixed assets.

| Going Concern

| The financial statements have been prepared on a going concern basis, not withstanding the fact that the company had net current liabilities of £936,285 and total assets less current liabilities of £60,053. The company generated a profit before tax of £64,596.

| The company commenced trading during 2022 and the current directors are reviewing revenue streams and costs to establish the company in its new market and ensure that the company will trade profitability in the near future. Management have prepared forecasts which demonstrate that the Company may require some support from its fellow group companies in the next 12 months to help support the company.

| The directors have obtained confirmation from the group's parent company, Ardtir Investments Ltd, that the company has underlying support for a period of at least 12 months from the date of signing these financial statements and are satisfied that they can demonstrate a strong financial position to withstand potential future challenges or cash flow requirements for the foreseeable future.

| It is on this basis, that the directors have prepared the financial statements on a going concern basis.

| Revenue

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

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sale of goods:

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

| - the significant risks and rewards of ownership have been transferred to the buyer;

| - the company retains no continuing involvement or control over the goods;

| - the amount of revenue can be measured reliably;

| - it is probable that future economic benefits will flow through the company;

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ACCOUNTING POLICIES - continued

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Inventories

| Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

| Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| (iii) Offsetting

| Financial assets and liabilities are offset and 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.

| 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

3. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Cash flow statement

| The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

| Share capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new

| ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

| Finance Costs:

| Finance expenses comprise interest payable on borrowings and leases. Interest is recognised in profit or loss as it accrues.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2023 - NIL).

5. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertaki

£ |

| COST

| At 1 January 2024 | 642,526 |  |

| Additions | 353,812 |  |

| At 31 December 2024 | 996,338 |  |

| NET BOOK VALUE

| At 31 December 2024 | 996,338 |  |

| At 31 December 2023 | 642,526 |  |

6. | STOCKS

2024 | 2023 |

£ | £ |

| Inventories | 1,070,641 |  | 566,973 |  |

7. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Amounts owed by group undertakings | 2,254,420 |  | 3,367,732 |  |

| Other debtors | 4,698 |  | - |  |

2,259,118 |  | 3,367,732 |  |

FLAIR SHOWERS LTD (REGISTERED NUMBER: NI646825)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| The amounts owed by group companies and related undertakings are unsecured and considered payable on demand. No interest is charged in respect of same.

8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Amounts owed to group undertakings | 4,072,105 |  | 4,467,987 |  |

| Taxation and social security | 79,443 |  | 113,787 |  |

| Other payables | 114,496 |  | - |  |

4,266,044 |  | 4,581,774 |  |

| The amounts due to group companies and related undertakings are unsecured and considered payable on demand. No interest is charged in respect of same.

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

| The Auditors' Report was unqualified.

| Mr. Ryan Falls F.C.A. (Senior Statutory Auditor)

| for and on behalf of CavanaghKelly

10. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is Ardtir Investments Ltd.

| The company regards Flair Showers Limited, a company registered in the Republic Of Ireland, as

| its immediate parent company. The ultimate parent and the largest and smallest group financial

| statements that consolidate this company is Ardtir Investments Ltd.