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REGISTERED NUMBER: 05816541 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ATOPBANK LTD

ATOPBANK LTD (REGISTERED NUMBER: 05816541)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ATOPBANK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: S Rand





SECRETARY: E Adolf





REGISTERED OFFICE: 115 Craven Park Road
London
N15 6BL





REGISTERED NUMBER: 05816541 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 785 924
Investment property 5 1,400,000 1,400,000
1,400,785 1,400,924

CURRENT ASSETS
Debtors 6 35,500 36,317
Cash at bank 9,301 4,937
44,801 41,254
CREDITORS
Amounts falling due within one year 7 (471,129 ) (459,501 )
NET CURRENT LIABILITIES (426,328 ) (418,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,457

982,677

CREDITORS
Amounts falling due after more than one
year

8

(377,820

)

(404,642

)
NET ASSETS 596,637 578,035

CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 449,032 449,032
Retained earnings 12 147,604 129,002
SHAREHOLDERS' FUNDS 596,637 578,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





S Rand - Director


ATOPBANK LTD (REGISTERED NUMBER: 05816541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

ATOPBANK LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 3,605
DEPRECIATION
At 1 June 2022 2,681
Charge for year 139
At 31 May 2023 2,820
NET BOOK VALUE
At 31 May 2023 785
At 31 May 2022 924

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,400,000
NET BOOK VALUE
At 31 May 2023 1,400,000
At 31 May 2022 1,400,000

The director has confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors - 817
Other debtors 35,500 35,500
35,500 36,317

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Tax 4,396 4,283
Other creditors 465,653 454,198
Accrued expenses 1,080 1,020
471,129 459,501

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans (see note 9) 360,320 384,642
Other loans (see note 9) 17,500 20,000
377,820 404,642

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 360,320 -
Other loans more 5yrs instal 17,500 20,000
377,820 20,000

9. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 384,642

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 360,320 -
Other loans more 5yrs instal 17,500 20,000
377,820 20,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 360,320 384,642

1. The mortgage is secured by a first charge over the company's investment properties and bear interest at variable rates.

2. Under the bank loan, £17,500 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2022 129,002 449,032 578,034
Profit for the year 18,602 18,602
At 31 May 2023 147,604 449,032 596,636

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Schmuel Adolf.