REGISTERED NUMBER: NI620445 (Northern Ireland)

EXI-TITE LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr A S Robinson

Mrs V Robinson

REGISTERED OFFICE:

15A Grange Road

Ballygawley

Dungannon

Co. Tyrone

BT70 2LP

REGISTERED NUMBER:

NI620445 (Northern Ireland)

ACCOUNTANTS:

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Santander Business Banking

Bridle Road

Bootle

Liverpool

L30 4GB

SOLICITORS:

Orr & Rountree

The Old Library

41 Dublin Road

Omagh

Co Tyrone

BT78 1HE

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 2024 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 2024 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

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

16 September 2025

FIXED ASSETS

Tangible assets

4

822,722

732,359

Investments

5

302

202

823,024

732,561

CURRENT ASSETS

Stocks

484,163

486,031

Debtors

6

2,075,056

1,498,539

Cash at bank

209,443

205,101

2,768,662

2,189,671

CREDITORS

Amounts falling due within one year

7

2,383,099

1,741,792

NET CURRENT ASSETS

385,563

447,879

TOTAL ASSETS LESS CURRENT LIABILITIES

1,208,587

1,180,440

CREDITORS

Amounts falling due after more than one year

8

(181,366

)

(315,753

)

PROVISIONS FOR LIABILITIES

(158,063

)

(127,310

)

NET ASSETS

869,158

737,377

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

145,037

145,037

Retained earnings

724,021

592,240

SHAREHOLDERS' FUNDS

869,158

737,377

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 16 September 2025 and were signed on its behalf by:

Mr A S Robinson - Director

Mrs V Robinson - Director

1.	STATUTORY INFORMATION

Exi-tite 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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling which is the functional currency of the Company.

Preparation of consolidated financial statements

The financial statements contain information about Exi-tite Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are summarised below.

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

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, other than freehold land, over their expected useful lives, using the straight-line method. The rates applicable are as follows:

Freehold property - 2%

Improvements to Leasehold property - 10%

Plant and machinery - 14%

Office equipment - 20%

Computer equipment - 20%

Motor vehicles - 25%

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

The company made a profit during the year ended 31 December 2024 and, at that date, the Company's assets exceeded it's liabilities. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 25 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Improvement

Freehold

Leasehold

Plant &

property

property

machinery

£

£

£

COST

At 1 January 2024

353,241

41,867

332,735

Additions

-

-

184,740

Disposals

-

-

(55,108

)

At 31 December 2024

353,241

41,867

462,367

DEPRECIATION

At 1 January 2024

14,119

3,206

138,679

Charge for year

7,066

4,187

53,738

Eliminated on disposal

-

-

(20,735

)

At 31 December 2024

21,185

7,393

171,682

NET BOOK VALUE

At 31 December 2024

332,056

34,474

290,685

At 31 December 2023

339,122

38,661

194,056

Office &

Motor

Computer

vehicles

Equipment

Totals

£

£

£

COST

At 1 January 2024

182,505

253,266

1,163,614

Additions

-

69,691

254,431

Disposals

(35,495

)

-

(90,603

)

At 31 December 2024

147,010

322,957

1,327,442

DEPRECIATION

At 1 January 2024

131,345

143,906

431,255

Charge for year

23,294

41,410

129,695

Eliminated on disposal

(35,495

)

-

(56,230

)

At 31 December 2024

119,144

185,316

504,720

NET BOOK VALUE

At 31 December 2024

27,866

137,641

822,722

At 31 December 2023

51,160

109,360

732,359

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakin

£

COST

At 1 January 2024

202

Additions

100

At 31 December 2024

302

NET BOOK VALUE

At 31 December 2024

302

At 31 December 2023

202

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,667,871

880,746

Other debtors

407,185

617,793

2,075,056

1,498,539

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

72,004

84,146

Hire purchase contracts

51,425

35,017

Trade creditors

1,828,073

1,484,310

Taxation and social security

258,277

75,579

Other creditors

173,320

62,740

2,383,099

1,741,792

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

41,321

104,628

Hire purchase contracts

85,539

87,101

Other creditors

54,506

124,024

181,366

315,753

2024

2023

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Directors loan

54,506

124,024

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

100,436

158,987

Bank overdraft

-

9,430

100,436

168,417

The company's bank overdraft and loans are secured by the following:-

- Mortgage debenture incorporating a fixed and floating charge over all company assets present and future with a specific charge over the freehold property at 15A Grange Road, Ballygawley.

- Legal mortgage/charge over part of the lands comprised in Folio 31085 County Tyrone.

10.

RESERVES

Revaluatio

reserve

£

At 1 January 2024

and 31 December 2024

145,037

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions contained in Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 33 Related Party Disclosures paragraph 33.11 and has not disclosed details of transactions with wholly owned subsidiaries within the group.