Outdo Airports Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05850525 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Outdo Airports Limited

Previously known as

Eye Airports Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Brennan

R E Davies

REGISTERED OFFICE:

Clare House

5a Clare Road

Halifax

HX1 2HX

REGISTERED NUMBER:

05850525 (England and Wales)

SENIOR STATUTORY AUDITOR:

Phillipa Symington ACA, CA(SA)

AUDITORS:

Clive Owen LLP

Chartered Accountants

& Statutory Auditors

Oak Tree House, Harwood Road

Northminster Business Park

Upper Poppleton

York

YO26 6QU

FIXED ASSETS

Intangible assets

4

31,630

-

Tangible assets

5

3,692

4,958

Investments

6

851

36,173

5,809

CURRENT ASSETS

Debtors

7

1,925,041

4,742,404

Cash at bank

980,293

309,860

2,905,334

5,052,264

CREDITORS

Amounts falling due within one year

8

(1,258,652

)

(4,906,587

)

NET CURRENT ASSETS

1,646,682

145,677

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,682,855

151,486

CAPITAL AND RESERVES

Called up share capital

9

608,196

108,196

Retained earnings

1,074,659

43,290

SHAREHOLDERS' FUNDS

1,682,855

151,486

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

M A Brennan - Director

1.	STATUTORY INFORMATION

Outdo Airports Limited is a private company, limited by shares , registered in England and Wales. 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade for a period of at least 12 months from the date the financial statements are approved. However the validity of the going concern basis is dependent upon the support of the group. Should the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their recoverable amounts, to provide for any further liabilities which might arise, and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Related party exemption

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.

Revenue recognition

Revenue is recognised when the company satisfies its performance obligations under customer contracts:

Manufacturing and Installation

Revenue is recognised at the point of delivery and installation of advertising structures, when control passes to the customer.

Advertising Services

Revenue is recognised monthly over the period the advertising is displayed.

Concession Arrangements

Where the company operates under a revenue-sharing agreement with local councils, revenue is recognised gross. The council’s share is accrued as a liability based on contractual terms.

Deferred Income

Income received in advance of service delivery is deferred and recognised when the service is performed.

Grants

Revenue based grants are credited to the profit and loss account on receipt.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Preparation of consolidated financial statements

The financial statements contain information about Outdo Airports Limited (previosuly Eye Airports Limited) as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

32,166

At 31 December 2024

32,166

AMORTISATION

Amortisation for year

536

At 31 December 2024

536

NET BOOK VALUE

At 31 December 2024

31,630

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

6,329

DEPRECIATION

At 1 January 2024

1,371

Charge for year

1,266

At 31 December 2024

2,637

NET BOOK VALUE

At 31 December 2024

3,692

At 31 December 2023

4,958

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

851

NET BOOK VALUE

At 31 December 2024

851

At 31 December 2023

851

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

485,334

361,067

Amounts owed by group undertakings

1,431,085

4,319,105

Prepayments and accrued income

8,622

62,232

1,925,041

4,742,404

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

71,168

187,638

Amounts owed to group undertakings

-

3,944,196

Taxation and social security

105,462

67,541

Other creditors

116,248

53,812

Accruals

59,072

49,270

Deferred income

748,564

570,768

Concession commission accrual

158,138

33,362

1,258,652

4,906,587

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

21,759,477

A Ordinary

£0.00

1

21,759

86,436,800

B Ordinary

£0.00

1

86,437

500,000

C Ordinary

£1

500,000

-

608,196

108,196

500,000 C Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

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

The Report of the Auditors was unqualified.

Phillipa Symington ACA, CA(SA) (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

11.	ULTIMATE PARENT COMPANY

The ultimate parent company is Outdo Holdings Limited (previously Community Partners Holdings Limited), a private company, limited by shares, registered in England and Wales. The company's registered office is 5a Clare Road, Halifax, England, HX1 2HX.

The parent undertaking is Outdo Media Limited (previously CP Media Limited), a limited company, registered in England and Wales. The company's registered office is 5a Clare Road, Halifax, England, HX1 2HX.

12.	COMPARATIVES

This is the first year that the company has been audited. In the prior year the company took advantage of the audit exemption available to small companies, therefore the comparatives in these financial statements for the year ended 31 December 2023 are unaudited. However, we have obtained sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period's financial statements.