Air-Tastic Bangor Ltd - Accounts to registrar (filleted) - small 23.2.5
Air-Tastic Bangor Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 May 2023 |
| for |
| Air-Tastic Bangor Ltd |
| Air-Tastic Bangor Ltd (Registered number: NI637454) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2023 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Air-Tastic Bangor Ltd |
| Company Information |
| for the Year Ended 31 May 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 35 Main St |
| Hilltown |
| Newry |
| Co. Down |
| BT34 5UJ |
| Air-Tastic Bangor Ltd (Registered number: NI637454) |
| Abridged Balance Sheet |
| 31 May 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | 7 |
| SHAREHOLDERS' FUNDS |
| 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 |
| Air-Tastic Bangor Ltd (Registered number: NI637454) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2023 |
| 1. | STATUTORY INFORMATION |
| Air-Tastic Bangor Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the 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 |
| Plant and machinery etc | - |
| 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. |
| Air-Tastic Bangor Ltd (Registered number: NI637454) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 June 2022 |
| Additions |
| At 31 May 2023 |
| DEPRECIATION |
| At 1 June 2022 |
| Charge for year |
| At 31 May 2023 |
| NET BOOK VALUE |
| At 31 May 2023 |
| At 31 May 2022 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Totals |
| £ |
| COST |
| At 1 June 2022 |
| and 31 May 2023 | 100,140 |
| DEPRECIATION |
| At 1 June 2022 | 48,868 |
| Charge for year | 10,255 |
| At 31 May 2023 | 59,123 |
| NET BOOK VALUE |
| At 31 May 2023 | 41,017 |
| At 31 May 2022 | 51,272 |
| Air-Tastic Bangor Ltd (Registered number: NI637454) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 5. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Other loans |
| 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. |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 7. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2022 |
| Deficit for the year | ( |
) |
| At 31 May 2023 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | OPERATING LEASE COMMITMENTS |
| The company has total future operating lease commitments of £331,250. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Air-Tastic Ltd. |
| The ultimate controlling party is |