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Registration number: NI021195

Tag-Air Limited
Annual Report and Unaudited Abridged Financial Statements
for the Year Ended 31 August 2025

Tag-Air Limited

Contents

Company Information | 1
Accountants' Report | 2
Abridged Balance Sheet | 3 to 4
Notes to the Unaudited Abridged Financial Statements | 5 to 9

Tag-Air Limited

Company Information

Director | Mr Brian Taggart

Company secretary | Mrs Gillian Taggart

Registered office | No 36 Dunlop Industrial Units 8 Balloo Drive Bangor Co Down BT19 7QY

Accountants | Hamilton Morris Waugh Chartered Certified Accountant34 Dufferin Avenue Bangor Down BT20 3AA

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Tag-Air Limited
for the Year Ended 31 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tag-Air Limited for the year ended 31 August 2025 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Tag-Air Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Tag-Air Limited and state those matters that we have agreed to state to the Board of Directors of Tag-Air Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tag-Air Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tag-Air Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tag-Air Limited. You consider that Tag-Air Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tag-Air Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Hamilton Morris Waugh
Chartered Certified Accountant
34 Dufferin Avenue
Bangor
Down
BT20 3AA

3 April 2026

Tag-Air Limited

(Registration number: NI021195)
Abridged Balance Sheet as at 31 August 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 14,000 | 16,000
Tangible assets | 5 | 215,982 | 197,620
Other financial assets |  | 100,000 | 100,000
|  | 329,982 | 313,620
Current assets |  |  |
Stocks | 6 | 144,412 | 105,987
Debtors |  | 2,267,214 | 1,539,620
Cash at bank and in hand |  | 275,211 | 31,047
|  | 2,686,837 | 1,676,654
Prepayments and accrued income |  | 5,520 | 5,520
Creditors: Amounts falling due within one year |  | (1,715,115) | (1,118,198)
Net current assets |  | 977,242 | 563,976
Total assets less current liabilities |  | 1,307,224 | 877,596
Creditors: Amounts falling due after more than one year |  | (21,633) | (27,086)
Accruals and deferred income |  | (96,036) | (72,650)
Net assets |  | 1,189,555 | 777,860
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | 1,189,455 | 777,760
Shareholders' funds |  | 1,189,555 | 777,860

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 3 April 2026

Tag-Air Limited

(Registration number: NI021195)
Abridged Balance Sheet as at 31 August 2025

......................................... Mr Brian Taggart Director

Tag-Air Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2025

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
No 36 Dunlop Industrial Units
8 Balloo Drive
Bangor
Co Down
BT19 7QY

These financial statements were authorised for issue by the director on 3 April 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tag-Air Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Property, plant and equipment | 25% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Tag-Air Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 33 (2024 - 31).

Tag-Air Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2025

4 | Intangible assets

| Total £
Cost or valuation
At 1 September 2024 | 20,000
At 31 August 2025 | 20,000
Amortisation
At 1 September 2024 | 4,000
Amortisation charge | 2,000
At 31 August 2025 | 6,000
Carrying amount
At 31 August 2025 | 14,000
At 31 August 2024 | 16,000

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 September 2024 | 85,059 | 110,233 | 301,094 | 496,386
Additions | 53,895 | 11,491 | 28,590 | 93,976
Disposals | - | - | (16,571) | (16,571)
At 31 August 2025 | 138,954 | 121,724 | 313,113 | 573,791
Depreciation
At 1 September 2024 | 39,237 | 101,299 | 158,230 | 298,766
Charge for the year | 11,987 | 5,676 | 57,951 | 75,614
Eliminated on disposal | - | - | (16,571) | (16,571)
At 31 August 2025 | 51,224 | 106,975 | 199,610 | 357,809
Carrying amount
At 31 August 2025 | 87,730 | 14,749 | 113,503 | 215,982
At 31 August 2024 | 45,822 | 8,934 | 142,864 | 197,620

Included within the net book value of land and buildings above is £87,730 (2024 - £45,822) in respect of long leasehold land and buildings.

Tag-Air Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2025

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 144,412 | 105,987

7 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 100 | 100 | 100 | 100