REGISTERED NUMBER: NI655035 (Northern Ireland)

Financial Statements for the Year Ended 31 March 2025

for

Advanced Ventilation Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Grimshaw

R Murphy

Mrs K Murphy

SECRETARY:

D Ramsey

REGISTERED OFFICE:

Unit 1 Church Road

Ballynure

Ballyclare

BT39 9UF

REGISTERED NUMBER:

NI655035 (Northern Ireland)

AUDITORS:

Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

BANKERS:

Danske Bank

Donegall Square West

Belfast

BT1 6JS

SOLICITORS:

O'Reilly Stewart Solicitors

Courtside House

75-77 May Street

Belfast

BT1 3JL

FIXED ASSETS

Intangible assets

5

268,026

313,849

Tangible assets

6

22,132

24,395

290,158

338,244

CURRENT ASSETS

Stocks

7

452,564

209,498

Debtors

8

863,547

499,462

Cash at bank

122,326

31,158

1,438,437

740,118

CREDITORS

Amounts falling due within one year

9

(310,170

)

(238,217

)

NET CURRENT ASSETS

1,128,267

501,901

TOTAL ASSETS LESS CURRENT LIABILITIES

1,418,425

840,145

PROVISIONS FOR LIABILITIES

(5,533

)

(6,099

)

NET ASSETS

1,412,892

834,046

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,412,792

833,946

1,412,892

834,046

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 9 October 2025 and were signed on its behalf by:

R Murphy - Director

1.	STATUTORY INFORMATION

Advanced Ventilation Solutions 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.

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.

Significant judgements and estimates

In applying the company's accounting policies the director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherence subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:

Recoverability of Debtors:

Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of the debtors are considered.

Assessing indicators of impairment:

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the asset that would have been determined had no impairment loss been recognised for the asset in previous years. A reversal of an impairment loss is recognised immediately in the profit or loss.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts, and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

Going concern

The directors have assessed, based on the anticipated activities of the company, that there are adequate resources in place to meet the on-going costs of the business for a minimum of 12 months from the date of signing of the financial statements. In coming to this conclusion, the directors have assessed the entity's current financing arrangements and liquid resources. For this reason, the financial statements have been prepared on a going concern basis which presumes the utilisation of assets and liabilities in the normal course of business.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2024 - 17 ) .

4.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

3,200

3,050

5.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

458,227

25,000

483,227

AMORTISATION

At 1 April 2024

144,378

25,000

169,378

Charge for year

45,823

-

45,823

At 31 March 2025

190,201

25,000

215,201

NET BOOK VALUE

At 31 March 2025

268,026

-

268,026

At 31 March 2024

313,849

-

313,849

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

43,117

10,782

53,899

Additions

12,789

-

12,789

At 31 March 2025

55,906

10,782

66,688

DEPRECIATION

At 1 April 2024

22,898

6,606

29,504

Charge for year

12,440

2,612

15,052

At 31 March 2025

35,338

9,218

44,556

NET BOOK VALUE

At 31 March 2025

20,568

1,564

22,132

At 31 March 2024

20,219

4,176

24,395

7.

STOCKS

2025

2024

£

£

Stocks

54,374

48,874

Work-in-progress

398,190

160,624

452,564

209,498

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

294,757

120,715

Amounts owed by group undertakings

553,011

371,915

Other debtors

5,936

3,042

Directors' current accounts

100

100

Prepayments and accrued income

9,743

3,690

863,547

499,462

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

255,416

186,109

Social security and other taxes

22,743

10,785

VAT

162

29,088

Other creditors

28,849

9,535

Accruals

3,000

2,700

310,170

238,217

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

The Report of the Auditors was unqualified.

Anthony Bradley FCA (Senior Statutory Auditor)

for and on behalf of Cleaver Black

11.	ULTIMATE CONTROLLING PARTY

RGM Topco Limited is regarded by directors as being the company's ultimate parent company.