REGISTERED NUMBER: NI680578 (Northern Ireland)

EXI-TITE AIR FILTRATION 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:

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

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Danske Bank

45-48 High Street

Portadown

Co. Armagh

BT62 1LB

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

8 August 2025

FIXED ASSETS

Intangible assets

4

46,555

53,494

Tangible assets

5

6,844

9,220

53,399

62,714

CURRENT ASSETS

Stocks

30,859

38,837

Debtors

6

86,768

101,089

Cash at bank

20,263

15,744

137,890

155,670

CREDITORS

Amounts falling due within one year

7

105,595

121,122

NET CURRENT ASSETS

32,295

34,548

TOTAL ASSETS LESS CURRENT LIABILITIES

85,694

97,262

CREDITORS

Amounts falling due after more than one year

8

(55,132

)

(86,141

)

PROVISIONS FOR LIABILITIES

(1,711

)

(1,752

)

NET ASSETS

28,851

9,369

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

28,751

9,269

28,851

9,369

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 8 August 2025 and were signed on its behalf by:

Mr A S Robinson - Director

Mrs V Robinson - Director

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.

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

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.

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 4 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

69,398

AMORTISATION

At 1 January 2024

15,904

Charge for year

6,939

At 31 December 2024

22,843

NET BOOK VALUE

At 31 December 2024

46,555

At 31 December 2023

53,494

5.	TANGIBLE FIXED ASSETS

Office &

Plant &

Computer

machinery

Equipment

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

3,000

9,742

12,742

DEPRECIATION

At 1 January 2024

605

2,917

3,522

Charge for year

428

1,948

2,376

At 31 December 2024

1,033

4,865

5,898

NET BOOK VALUE

At 31 December 2024

1,967

4,877

6,844

At 31 December 2023

2,395

6,825

9,220

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

85,793

100,275

Other debtors

975

814

86,768

101,089

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

80,408

101,316

Taxation and social security

22,652

15,053

Other creditors

2,535

4,753

105,595

121,122

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

55,132

86,141

9.	SECURED DEBTS

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

10.	RELATED PARTY DISCLOSURES

The company has availed of the exemption to not disclose transactions with group undertakings under

Section 33 of FRS102.