Silverfin false 31/03/2023 01/04/2022 31/03/2023 Oliver Michael Beynon 04/03/2015 Debra Bridgit Clack 25/05/2016 25 October 2023 The principal activity of the Company during the financial year was health and safety consultancy. 09470014 2023-03-31 09470014 bus:Director1 2023-03-31 09470014 bus:Director2 2023-03-31 09470014 2022-03-31 09470014 core:CurrentFinancialInstruments 2023-03-31 09470014 core:CurrentFinancialInstruments 2022-03-31 09470014 core:Non-currentFinancialInstruments 2023-03-31 09470014 core:Non-currentFinancialInstruments 2022-03-31 09470014 core:ShareCapital 2023-03-31 09470014 core:ShareCapital 2022-03-31 09470014 core:RetainedEarningsAccumulatedLosses 2023-03-31 09470014 core:RetainedEarningsAccumulatedLosses 2022-03-31 09470014 core:OtherResidualIntangibleAssets 2022-03-31 09470014 core:OtherResidualIntangibleAssets 2023-03-31 09470014 core:LeaseholdImprovements 2022-03-31 09470014 core:Vehicles 2022-03-31 09470014 core:OfficeEquipment 2022-03-31 09470014 core:ComputerEquipment 2022-03-31 09470014 core:LeaseholdImprovements 2023-03-31 09470014 core:Vehicles 2023-03-31 09470014 core:OfficeEquipment 2023-03-31 09470014 core:ComputerEquipment 2023-03-31 09470014 core:WithinOneYear 2023-03-31 09470014 core:WithinOneYear 2022-03-31 09470014 core:BetweenOneFiveYears 2023-03-31 09470014 core:BetweenOneFiveYears 2022-03-31 09470014 2022-04-01 2023-03-31 09470014 bus:FullAccounts 2022-04-01 2023-03-31 09470014 bus:SmallEntities 2022-04-01 2023-03-31 09470014 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09470014 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09470014 bus:Director1 2022-04-01 2023-03-31 09470014 bus:Director2 2022-04-01 2023-03-31 09470014 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-04-01 2023-03-31 09470014 core:LeaseholdImprovements core:TopRangeValue 2022-04-01 2023-03-31 09470014 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 09470014 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 09470014 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 09470014 2021-04-01 2022-03-31 09470014 core:LeaseholdImprovements 2022-04-01 2023-03-31 09470014 core:Vehicles 2022-04-01 2023-03-31 09470014 core:OfficeEquipment 2022-04-01 2023-03-31 09470014 core:ComputerEquipment 2022-04-01 2023-03-31 09470014 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 09470014 (England and Wales)

ATLAS SAFETY MANAGEMENT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

ATLAS SAFETY MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

ATLAS SAFETY MANAGEMENT LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
ATLAS SAFETY MANAGEMENT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Oliver Michael Beynon
Debra Bridgit Clack
REGISTERED OFFICE Unit Z1 Westpark
Chelston
Wellington
TA21 9AD
England
United Kingdom
COMPANY NUMBER 09470014 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
ATLAS SAFETY MANAGEMENT LIMITED

BALANCE SHEET

As at 31 March 2023
ATLAS SAFETY MANAGEMENT LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Restated
Fixed assets
Tangible assets 5 103,225 31,436
103,225 31,436
Current assets
Debtors 6 438,644 183,383
Cash at bank and in hand 37,443 23
476,087 183,406
Creditors: amounts falling due within one year 7 ( 432,978) ( 133,099)
Net current assets 43,109 50,307
Total assets less current liabilities 146,334 81,743
Creditors: amounts falling due after more than one year 8 ( 92,390) ( 42,112)
Provision for liabilities ( 7,096) ( 4,201)
Net assets 46,848 35,430
Capital and reserves
Called-up share capital 100 100
Profit and loss account 46,748 35,330
Total shareholder's funds 46,848 35,430

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Atlas Safety Management Limited (registered number: 09470014) were approved and authorised for issue by the Board of Directors on 25 October 2023. They were signed on its behalf by:

Oliver Michael Beynon
Director
ATLAS SAFETY MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
ATLAS SAFETY MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Atlas Safety Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit Z1 Westpark, Chelston, Wellington, TA21 9AD, England, United Kingdom.

This is the first year that the accounts have been prepared under FRS 102 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. Under FRS 102 Section 1A deferred taxation is recognised, in line with the accounting policy, whereas this is not a requirement under FRS 105. As a result of transition to FRS 102 Section 1A there is now a deferred tax liability recognised in the financial statements as a provision for liabilities resulting in a corresponding decrease in the profit and loss account.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Vehicles 5 years straight line
Office equipment 6.67 years straight line
Computer equipment 6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of 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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.Transition to FRS102

The Company has adopted FRS 102 for the year ended 31 March 2023 and has restated the comparative year amounts.

Reconciliation of equity

01.04.2021 31.03.2022
£ £
Capital and reserves (as previously stated) 130,127 39,631
Provision for liabilities (2,394) (4,201)
Capital and reserves (as restated) 127,733 35,430

Reconciliation of profit or loss

31.03.2022
£
Profit for the year (as previously stated) 14,504
Deferred tax movement (1,807)
Profit for the year (as restated) 12,697

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 9

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2022 1,620 1,620
At 31 March 2023 1,620 1,620
Accumulated amortisation
At 01 April 2022 1,620 1,620
At 31 March 2023 1,620 1,620
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

5. Tangible assets

Leasehold improve-
ments
Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2022 16,956 12,700 6,571 16,313 52,540
Additions 0 86,051 3,327 2,253 91,631
At 31 March 2023 16,956 98,751 9,898 18,566 144,171
Accumulated depreciation
At 01 April 2022 7,631 212 3,128 10,133 21,104
Charge for the financial year 1,695 15,194 1,059 1,894 19,842
At 31 March 2023 9,326 15,406 4,187 12,027 40,946
Net book value
At 31 March 2023 7,630 83,345 5,711 6,539 103,225
At 31 March 2022 9,325 12,488 3,443 6,180 31,436
Leased assets included above:
Net book value
At 31 March 2023 0 83,345 0 0 83,345
At 31 March 2022 0 12,488 0 0 12,488

6. Debtors

2023 2022
£ £
Trade debtors 217,014 76,201
Other debtors 221,630 107,182
438,644 183,383

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 10,000 21,142
Trade creditors 5,216 9,954
Amounts owed to Group undertakings 333,359 36,612
Taxation and social security 24,786 31,682
Obligations under finance leases and hire purchase contracts 12,879 3,955
Other creditors 46,738 29,754
432,978 133,099

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 23,333 33,333
Obligations under finance leases and hire purchase contracts (secured) 69,057 8,779
92,390 42,112

Hire purchase obligations are secured over the assets to which they relate.

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 39,942 0
between one and five years 57,481 0
97,423 0

10. Related party transactions

Transactions with the entity's directors

Advances

O M Beynon

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022, the balance owed by the director was £48,506. During the year, £103,416 was advanced to the director, and £52,494 was repaid by the director. At 31 March 2023, the balance owed by the director was £99,428.

At 1 April 2021, the balance owed by the director was £51,884. During the year, £53,580 was advanced to the director, and £56,958 was repaid by the director. At 31 March 2022, the balance owed by the director was £48,506.

D B Clack

The directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022, the balance owed by the director was £48,506. During the year, £103,416 was advanced to the director, and £52,494 was repaid by the director. At 31 March 2023, the balance owed by the director was £99,428.

At 1 April 2021, the balance owed by the director was £51,884. During the year, £53,580 was advanced to the director, and £56,958 was repaid by the director. At 31 March 2022, the balance owed by the director was £48,506.