REGISTERED NUMBER: 03426704 (England and Wales)

IRATA INTERNATIONAL

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

69,989

30,249

Tangible assets

5

2,593,787

60,685

Investments

6

112

100

2,663,888

91,034

CURRENT ASSETS

Stocks

35,735

27,014

Debtors

7

1,111,454

594,380

Cash at bank and in hand

2,393,704

4,449,905

3,540,893

5,071,299

CREDITORS

Amounts falling due within one year

8

864,625

673,242

NET CURRENT ASSETS

2,676,268

4,398,057

TOTAL ASSETS LESS CURRENT LIABILITIES

5,340,156

4,489,091

RESERVES

Capital reserve

19,870

19,870

Income and expenditure account

5,320,286

4,469,221

5,340,156

4,489,091

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 4 December 2025 and were signed on its behalf by:

Mr J B Capper - Director

1.	STATUTORY INFORMATION

Irata International is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03426704

Registered office:

Irata First Floor, Unit 3

The Eurogate Business Park

Ashford

Kent

TN24 8XW

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

At the year end, the association had net assets of £5,340,156 (2024 - £4,489,091) and a cash balance of £2,393,704 (2024 - £4,449,905) and have not sought the need to obtain further financing due to the strong liquid cash position.

As such, the directors have not identified any immediate concerns which arise on the ability of IRATA International to continue to operate as a going concern in the 12 months following the end of the financial year ending 31 March 2025, or the foreseeable future thereafter.

Preparation of consolidated financial statements

The financial statements contain information about Irata International 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.

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.

Turnover

Turnover is the total amount receivable by the association in the ordinary course of business with outside customers for goods supplied as a principle and for services provided, excluding of value added tax and trade discounts.

Turnover of memberships, subscriptions and application fees are recognised once the customer has been approved by the company.

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.

Trademarks and licences is being amortised evenly over its estimated useful life of ten 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

-

20% on reducing balance

Fixtures and fittings

-

20% on cost

Office and computer equipment

-

33% on cost

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

The company is a mutual trading company, and is therefore only required to pay corporation tax on non-trading income.

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.

Foreign currencies

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.

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.

Operating leases

Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion, there are no significant judgements or key sources of estimation uncertainty.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Trademarks

and

licences

£

COST

At 1 April 2024

42,321

Additions

50,057

Disposals

(16,945

)

At 31 March 2025

75,433

AMORTISATION

At 1 April 2024

12,072

Amortisation for year

4,420

Eliminated on disposal

(11,048

)

At 31 March 2025

5,444

NET BOOK VALUE

At 31 March 2025

69,989

At 31 March 2024

30,249

5.	TANGIBLE FIXED ASSETS

Office

Fixtures

and

Freehold

Plant and

and

computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

-

3,415

115,754

209,335

328,504

Additions

2,546,760

-

5,710

14,880

2,567,350

Disposals

-

(3,415

)

-

-

(3,415

)

At 31 March 2025

2,546,760

-

121,464

224,215

2,892,439

DEPRECIATION

At 1 April 2024

-

826

102,892

164,101

267,819

Charge for year

-

-

4,977

26,682

31,659

Eliminated on disposal

-

(826

)

-

-

(826

)

At 31 March 2025

-

-

107,869

190,783

298,652

NET BOOK VALUE

At 31 March 2025

2,546,760

-

13,595

33,432

2,593,787

At 31 March 2024

-

2,589

12,862

45,234

60,685

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2024

100

Additions

12

At 31 March 2025

112

NET BOOK VALUE

At 31 March 2025

112

At 31 March 2024

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

492,589

383,977

Other debtors

618,865

210,403

1,111,454

594,380

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

279,810

198,425

Taxation and social security

46,738

34,914

Other creditors

538,077

439,903

864,625

673,242

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

48,000

48,000

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

The Report of the Auditors was unqualified.

Alfonso Del Basso (Senior Statutory Auditor)

for and on behalf of Keelings Limited

11.	ULTIMATE CONTROLLING PARTY

The company is run by the management on a day to day basis. Strategic decisions are made by the Board of Directors. There is no ultimate controlling party.

12.	LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 toward the assets of the company in the event of liquidation.