Ace Air NI Ltd - Filleted accounts

Registered number

NI609374

Ace Air NI Ltd

Filleted Accounts

for the period ended

31 December 2024

Ace Air NI Ltd
Registered number:		NI609374
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	4		19,603			33,700

Current assets
Stocks		207,050			87,062
Debtors	5	631,188			827,252
Cash at bank and in hand		812,269			779,425
		1,650,507			1,693,739

Creditors: amounts falling due within one year	6	(504,614)			(809,585)

Net current assets			1,145,893			884,154

Total assets less current liabilities			1,165,496			917,854


Provisions for liabilities			-			(2,802)


Net assets			1,165,496			915,052

Capital and reserves
Called up share capital			300			300
Profit and loss account			1,165,196			914,752

Shareholders' funds			1,165,496			915,052

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Andrew Bardsley
Director
Approved by the board on 18 December 2025

Ace Air NI Ltd
Notes to the Financial Statements
for the period from 1 October 2023 to 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Structures and buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Motor Vehicles			over 4 years
	Plant, fixtures and equipment			over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Audit information

	The audit report is qualified with a limitation of scope.

	Senior statutory auditor:	Ben Reynolds ACA
	Firm:	Fitzpatrick & Kearney Ltd
	Date of audit report:	18 December 2025


3	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					8		8


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 October 2023	4,622		57,933		127,370		189,925
	Additions	-		6,058		7,150		13,208
	Disposals	-		-		(97,725)		(97,725)
	At 31 December 2024	4,622		63,991		36,795		105,408

	Depreciation
	At 1 October 2023	164		39,274		116,787		156,225
	Charge for the period	114		9,458		10,583		20,155
	On disposals	-		-		(90,575)		(90,575)
	At 31 December 2024	278		48,732		36,795		85,805

	Net book value
	At 31 December 2024	4,344		15,259		-		19,603
	At 30 September 2023	4,458		18,659		10,583		33,700


5	Debtors					2024		2023
£							£

	Trade debtors					592,005		811,266
	Deferred tax asset					1,262		-
	Other debtors					37,921		15,986
						631,188		827,252


6	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					-		29,104
	Trade creditors					318,127		313,204
	Taxation and social security costs					66,311		168,583
	Other creditors					120,176		298,694
						504,614		809,585


7	Events after the reporting date

	There were no events since the balance sheet date which would necessitate a change in the above figures.


8	Contingent liabilities

	As far as the directors are aware, there were no contingent liabilities at the year end.


9	Related party transactions

	Related party transactions have ocurred between the company and its parent company during the year which were in the normal course of business. There are no outstanding balances at the year-end.


10	Controlling party

	Atlas Copco UK Holdings Ltd purchased the entire shareholding of Ace Air NI Ltd in February 2024. The ultimate controlling body has been identified as the shareholders of Atlas Copco AB, a public limited company based in Sweden.


11	Other information

	Ace Air NI Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
	27 Dromore Street
	Dromara
	Co. Down
	BT25 2BJ