Atlas Engineering Ltd 14527880 false 2022-12-07 2023-12-31 2023-12-31 The principal activity of the company is Engineering Digita Accounts Production Advanced 6.30.9574.0 true true 14527880 2022-12-07 2023-12-31 14527880 2023-12-31 14527880 core:CurrentFinancialInstruments 2023-12-31 14527880 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14527880 core:FurnitureFittingsToolsEquipment 2023-12-31 14527880 bus:SmallEntities 2022-12-07 2023-12-31 14527880 bus:AuditExemptWithAccountantsReport 2022-12-07 2023-12-31 14527880 bus:FullAccounts 2022-12-07 2023-12-31 14527880 bus:SmallCompaniesRegimeForAccounts 2022-12-07 2023-12-31 14527880 bus:RegisteredOffice 2022-12-07 2023-12-31 14527880 bus:Director1 2022-12-07 2023-12-31 14527880 bus:Director2 2022-12-07 2023-12-31 14527880 bus:PrivateLimitedCompanyLtd 2022-12-07 2023-12-31 14527880 core:FurnitureFittingsToolsEquipment 2022-12-07 2023-12-31 14527880 countries:UnitedKingdom 2022-12-07 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 14527880

Atlas Engineering Ltd

Annual Report and Unaudited Financial Statements

for the Period from 7 December 2022 to 31 December 2023

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Atlas Engineering Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Atlas Engineering Ltd

Company Information

Directors

Mr Mark Boyton Vallender

Mrs Claire Suzanne Vallender

Registered office

15 Stream Park
East Grinstead
RH19 1QN

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Atlas Engineering Ltd

(Registration number: 14527880)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed Assets

 

Tangible Assets

4

375

Current assets

 

Debtors

5

40,315

Cash at bank and in hand

 

175,778

 

216,093

Creditors: Amounts falling due within one year

6

(61,849)

Net current assets

 

154,244

Total assets less current liabilities

 

154,619

Provisions for liabilities

(94)

Net assets

 

154,525

Capital and Reserves

 

Called up share capital

4

Retained Earnings

154,521

Shareholders' funds

 

154,525

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2024 and signed on its behalf by:
 

.........................................
Mr Mark Boyton Vallender
Director

   
     
 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
15 Stream Park
East Grinstead
RH19 1QN
England

These financial statements were authorised for issue by the Board on 5 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

500

500

At 31 December 2023

500

500

Depreciation

Charge for the period

125

125

At 31 December 2023

125

125

Carrying amount

At 31 December 2023

375

375

5

Debtors

Current

2023
£

Trade Debtors

40,315

 

40,315

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7

2,025

Trade Creditors

 

29

Taxation and social security

 

58,595

Accruals and deferred income

 

1,200

 

61,849

 

Atlas Engineering Ltd

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

7

Loans and borrowings

2023
£

Current loans and borrowings

Other borrowings

2,025