REGISTERED NUMBER: NI638469 (Northern Ireland)

Financial Statements for the Year Ended 31 May 2025

for

Air-Tastic Belfast Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A Simpson

M Simpson

H Moore

REGISTERED OFFICE:

9 Castlewellan Road

Rathfriland

Co. Down

BT34 5LY

REGISTERED NUMBER:

NI638469 (Northern Ireland)

AUDITORS:

Farrell & Farrell

35 Main St

Hilltown

Newry

Co. Down

BT34 5UJ

FIXED ASSETS

Intangible assets

4

948,731

1,071,211

Tangible assets

5

1,604,467

1,847,153

2,553,198

2,918,364

CURRENT ASSETS

Stocks

27,113

32,925

Debtors

670,307

329,503

Cash at bank and in hand

169,256

190,656

866,676

553,084

CREDITORS

Amounts falling due within one year

2,138,565

2,369,224

NET CURRENT LIABILITIES

(1,271,889

)

(1,816,140

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,281,309

1,102,224

CREDITORS

Amounts falling due after more than one year

(945,579

)

(1,361,111

)

PROVISIONS FOR LIABILITIES

(329,456

)

(94,289

)

NET ASSETS/(LIABILITIES)

6,274

(353,176

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

6,174

(353,276

)

SHAREHOLDERS' FUNDS

6,274

(353,176

)

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 Belfast 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 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 60 (2024 - 53 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2024

and 31 May 2025

1,224,802

AMORTISATION

At 1 June 2024

153,591

Amortisation for year

122,480

At 31 May 2025

276,071

NET BOOK VALUE

At 31 May 2025

948,731

At 31 May 2024

1,071,211

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2024

2,404,633

Additions

74,615

Disposals

(1,747

)

At 31 May 2025

2,477,501

DEPRECIATION

At 1 June 2024

557,480

Charge for year

315,589

Eliminated on disposal

(35

)

At 31 May 2025

873,034

NET BOOK VALUE

At 31 May 2025

1,604,467

At 31 May 2024

1,847,153

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,278,912

1,611,111

Loans and hire purchase liabilities 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 Belfast 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

(353,276

)

Profit for the year

359,450

At 31 May 2025

6,174

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 future operating lease commitments of £3,100,630.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Air-Tastic Ltd.

The ultimate controlling party is Funky Monkeys Playcentres Ltd.