REGISTERED NUMBER: 02754914 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

VIRAIR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Neil Andrew Arkwright

Timothy Andrew Nadin

SECRETARY:

Christopher John Nadin

REGISTERED OFFICE:

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

REGISTERED NUMBER:

02754914 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

158

20,488

CURRENT ASSETS

Stocks

5

12,663

12,663

Debtors

6

50,001

45,876

Cash at bank

3,173

10,399

65,837

68,938

CREDITORS

Amounts falling due within one year

7

37,306

168,354

NET CURRENT ASSETS/(LIABILITIES)

28,531

(99,416

)

TOTAL ASSETS LESS CURRENT LIABILITIES

28,689

(78,928

)

CREDITORS

Amounts falling due after more than one year

8

24,707

30,187

NET ASSETS/(LIABILITIES)

3,982

(109,115

)

CAPITAL AND RESERVES

Called up share capital

10

130,002

2

Retained earnings

(126,020

)

(109,117

)

SHAREHOLDERS' FUNDS

3,982

(109,115

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 22 December 2025 and were signed on its behalf by:

Neil Andrew Arkwright - Director

Timothy Andrew Nadin - Director

1.	STATUTORY INFORMATION

Virair 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.

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.

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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on 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.

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.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus continues to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

20,894

21,795

2,237

44,926

Disposals

-

(21,795

)

-

(21,795

)

At 31 March 2025

20,894

-

2,237

23,131

DEPRECIATION

At 1 April 2024

20,894

1,589

1,955

24,438

Charge for year

-

-

124

124

Eliminated on disposal

-

(1,589

)

-

(1,589

)

At 31 March 2025

20,894

-

2,079

22,973

NET BOOK VALUE

At 31 March 2025

-

-

158

158

At 31 March 2024

-

20,206

282

20,488

5.

STOCKS

31/3/25

31/3/24

£

£

Stocks

12,663

12,663

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

11,984

11,229

Deferred tax asset

9,080

5,815

Prepayments and accrued income

28,937

28,832

50,001

45,876

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

5,483

5,347

Trade creditors

20,203

89,107

Social security and other taxes

584

534

VAT

2,730

2,121

Other creditors

132

-

Directors' current accounts

4,945

69,945

Accrued expenses

3,229

1,300

37,306

168,354

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans - 1-2 years

5,621

5,482

Bank loans - 2-5 years

18,242

17,792

Bank loans more 5 yr by instal

844

6,913

24,707

30,187

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

844

6,913

9.	LEASING AGREEMENTS

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

31/3/25

31/3/24

£

£

Within one year

7,800

7,800

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

31/3/24

value:

£

£

130,002

Ordinary

£1

130,002

2

130,000 Ordinary shares of £1 were issued during the year for cash of £ 130,000 .

11.	RELATED PARTY DISCLOSURES

Virair Limited is a subsidiary of Cygnet Holdings Limited. Included within trade creditors as at 31 March 2025 is an amount of £16,430 (2024: £84,430) due to Cygnet Holdings Limited.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the Directors as disclosed in the Director's Report on page 2.