REGISTERED NUMBER: NI637454 (Northern Ireland)

Financial Statements for the Year Ended 31 May 2025

for

Air-Tastic Bangor Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A Simpson

M Simpson

H Moore

REGISTERED OFFICE:

9 Castlewellan Road

Rathfriland

Co. Down

BT34 5LY

REGISTERED NUMBER:

NI637454 (Northern Ireland)

AUDITORS:

Farrell & Farrell

35 Main St

Hilltown

Newry

Co. Down

BT34 5UJ

FIXED ASSETS

Tangible assets

4

1,422,070

289,393

CURRENT ASSETS

Stocks

20,532

5,625

Debtors

159,181

81,331

Cash at bank and in hand

55,692

46,911

235,405

133,867

CREDITORS

Amounts falling due within one year

1,091,130

406,860

NET CURRENT LIABILITIES

(855,725

)

(272,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

566,345

16,400

CREDITORS

Amounts falling due after more than one year

5

(725,244

)

-

PROVISIONS FOR LIABILITIES

(57,090

)

(33,754

)

NET LIABILITIES

(215,989

)

(17,354

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(216,089

)

(17,454

)

SHAREHOLDERS' FUNDS

(215,989

)

(17,354

)

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 May 2026 and were signed on its behalf by:

Mrs A Simpson - Director

M Simpson - Director

1.	STATUTORY INFORMATION

Air-Tastic Bangor Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

The company reports net liabilities on the balance sheet as at the year end however the directors confirm their commitment to the company and continued support from the shareholder and group to safeguard the operational future of the company for a period of at least 12 months from the date of signing these financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 10% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2024

973,858

Additions

1,289,364

At 31 May 2025

2,263,222

DEPRECIATION

At 1 June 2024

684,465

Charge for year

156,687

At 31 May 2025

841,152

NET BOOK VALUE

At 31 May 2025

1,422,070

At 31 May 2024

289,393

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 June 2024

100,140

Transfer to ownership

(100,140

)

At 31 May 2025

-

DEPRECIATION

At 1 June 2024

67,326

Transfer to ownership

(67,326

)

At 31 May 2025

-

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

32,814

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more 5 yr by instal

78,861

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

858,933

-

Loans are secured by: a fixed and floating charge over the company; an inter-company cross guarantee; and personal guarantees provided by the directors.

Air-Tastic Bangor Ltd has also cross guaranteed other inter-company loans.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 June 2024

(17,454

)

Deficit for the year

(198,635

)

At 31 May 2025

(216,089

)

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

The Report of the Auditors was unqualified.

Jayme Farrell (Senior Statutory Auditor)

for and on behalf of Farrell & Farrell

10.	OPERATING LEASE COMMITMENTS

The company has total future operating lease commitments of £885,000.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Air-Tastic Ltd.

The ultimate controlling party is Funky Monkeys Playcentres Ltd.