Company Registration No. 08319721 (England and Wales)
ATOMIC ENGINEERING HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
ATOMIC ENGINEERING HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr S E Thompson
Mr M D Howard
Company number
08319721
Registered office
Unit 9
Radway Industrial Estate
Radway Road
Shirley, Solihull
West Midlands
B90 4NR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
9-11 Poplar Road
Solihull
West Midlands
B91 3AN
ATOMIC ENGINEERING HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ATOMIC ENGINEERING HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ATOMIC ENGINEERING HOLDINGS LIMITED FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Atomic Engineering Holdings Limited for the year ended 31 December 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Atomic Engineering Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Atomic Engineering Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Atomic Engineering Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Atomic Engineering Holdings Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Atomic Engineering Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Atomic Engineering Holdings Limited. You consider that Atomic Engineering Holdings 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 financial statements of Atomic Engineering Holdings 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 financial statements.
Ormerod Rutter Limited
8 August 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ATOMIC ENGINEERING HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
107,229
107,229
Investments
4
2
2
107,231
107,231
Current assets
Debtors
5
94,588
18,732
Cash at bank and in hand
396
179
94,984
18,911
Creditors: amounts falling due within one year
6
(64,453)
(6,257)
Net current assets
30,531
12,654
Total assets less current liabilities
137,762
119,885
Creditors: amounts falling due after more than one year
7
(47,632)
(52,123)
Net assets
90,130
67,762
Capital and reserves
Called up share capital
8
4
4
Profit and loss reserves
90,126
67,758
Total equity
90,130
67,762
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ATOMIC ENGINEERING HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 August 2022 and are signed on its behalf by:
Mr M D Howard
Director
Company Registration No. 08319721
ATOMIC ENGINEERING HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information
Atomic Engineering Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9, Radway Industrial Estate, Radway Road, Shirley, Solihull, West Midlands, B90 4NR.
1.1
Accounting convention
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
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.
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:
Freehold property
Not provided
No depreciation is provided on freehold properties. The company follows a program of regular refurbishment and maintenance of its properties which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly in the opinion of the directors any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ATOMIC ENGINEERING HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2020 - 2).
3
Tangible fixed assets
Freehold property
£
Cost
At 1 January 2021 and 31 December 2021
107,229
Depreciation and impairment
At 1 January 2021 and 31 December 2021
Carrying amount
At 31 December 2021
107,229
At 31 December 2020
107,229
ATOMIC ENGINEERING HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
4
Fixed asset investments
2021
2020
£
£
Investments
2
2
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2021 & 31 December 2021
2
Carrying amount
At 31 December 2021
2
At 31 December 2020
2
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
94,588
18,732
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
4,492
4,320
Taxation and social security
790
764
Other creditors
59,171
1,173
64,453
6,257
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
47,632
52,123
ATOMIC ENGINEERING HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
8
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
4 Ordinary A of £1 each
4
4
4
4
9
Secured debts
The following secured debts are included within creditors:
2021
2020
£
£
Bank loans
52,124
56,443
Bank loans are secured by way of a fixed and floating charge over the assets of the company.
10
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
11
Ultimate controlling party
There is no ultimate controlling party.