Company registration number 05936430 (England and Wales)
Illoom Balloon Limited
Unaudited Financial Statements
For the year ended 12 April 2025
Illoom Balloon Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
Illoom Balloon Limited
Statement of financial position
As at 12 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
45,355
106,744
Current assets
Stocks
232,028
228,802
Debtors
4
303,212
423,938
Cash at bank and in hand
18,692
-
0
553,932
652,740
Creditors: amounts falling due within one year
5
(836,131)
(972,284)
Net current liabilities
(282,199)
(319,544)
Net liabilities
(236,844)
(212,800)
Capital and reserves
Called up share capital
7
100
100
Other reserves
(19,010)
(23,767)
Profit and loss reserves
(217,934)
(189,133)
Total equity
(236,844)
(212,800)

For the financial year ended 12 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 2 April 2026
Mr J A L Halliburton
Director
Company registration number 05936430 (England and Wales)
Illoom Balloon Limited
Statement of changes in equity
For the year ended 12 April 2025
- 2 -
Share capital
Currency translation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 13 April 2023
100
(23,767)
(390,762)
(414,429)
Year ended 12 April 2024:
Profit and total comprehensive income
-
-
201,629
201,629
Balance at 12 April 2024
100
(23,767)
(189,133)
(212,800)
Year ended 12 April 2025:
Loss
-
-
(28,801)
(28,801)
Other comprehensive income:
Currency translation differences
-
4,757
-
0
4,757
Total comprehensive income
-
4,757
(28,801)
(24,044)
Balance at 12 April 2025
100
(19,010)
(217,934)
(236,844)
Illoom Balloon Limited
Notes to the financial statements
For the year ended 12 April 2025
- 3 -
1
Accounting policies
Company information

Illoom Balloon Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cheshire Business Park, Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director h true as a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue s to adopt the going concern basis of accounting in preparing the financial statements. The company also has the continued financial support of its parent company along with the rest of the group.

1.3
Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Illoom Balloon Limited
Notes to the financial statements (continued)
For the year ended 12 April 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
15 years
Plant and equipment
3 - 20 years
Fixtures and fittings
3 - 10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are held at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis including freight charges. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. Is stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Illoom Balloon Limited
Notes to the financial statements (continued)
For the year ended 12 April 2025
1
Accounting policies
(Continued)
- 5 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded using the average weekly exchange rates for the week in which the transaction occurred. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are presented within other comprehensive income.

Illoom Balloon Limited
Notes to the financial statements (continued)
For the year ended 12 April 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
-
0
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 13 April 2024
49,368
477,363
17,941
544,672
Disposals
-
0
(176,671)
-
0
(176,671)
At 12 April 2025
49,368
300,692
17,941
368,001
Depreciation and impairment
At 13 April 2024
26,665
393,322
17,941
437,928
Depreciation charged in the year
3,300
14,300
-
0
17,600
Eliminated in respect of disposals
-
0
(132,882)
-
0
(132,882)
At 12 April 2025
29,965
274,740
17,941
322,646
Carrying amount
At 12 April 2025
19,403
25,952
-
0
45,355
At 12 April 2024
22,703
84,041
-
0
106,744
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
239,857
323,233
Other debtors
63,355
100,705
303,212
423,938
Illoom Balloon Limited
Notes to the financial statements (continued)
For the year ended 12 April 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
1,728
292,281
Trade creditors
98,349
92,838
Amounts owed to group undertakings
384,032
242,992
Taxation and social security
23,539
-
0
Other creditors
328,483
344,173
836,131
972,284

Bank borrowings are secured by way of a fixed and floating charge, held by The Royal Bank of Scotland, over all property and undertakings of the Company.

Included within other creditors are amounts for invoice factoring of £185,930 (2024: £230,030)

6
Deferred tax

There is an unrecognised deferred tax asset of £208,202 that relates to unutilised tax losses, as at the year end it was not deemed probable that these would be recovered.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Other reserves

Included within other reserves is a foreign exchange reserve.

9
Ultimate parent company and controlling party

Seatriever International Holdings Limited (registered office Cheshire Business Park, Cheshire Avenue, Lostock Gralam, Northwich, Cheshire, CW9 7UA) is regarded by the director as being the Company's ultimate parent company by way of ownership of 100% of the share capital and forms the smallest and largest group into which the Company's results are consolidated.

The ultimate controlling party is J A Halliburton by virtue of his majority shareholding in Seatriever International Holdings Limited.

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