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REGISTERED NUMBER: 07642022 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

ATLANTIC FABRICATIONS LTD

ATLANTIC FABRICATIONS LTD (REGISTERED NUMBER: 07642022)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ATLANTIC FABRICATIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







Directors: J Faulks
N Varden





Registered office: 10 Dawsons Lane
Barwell
Leicester
LE9 8BE





Registered number: 07642022 (England and Wales)





Accountants: Sturgess Hutchinson
Chartered Certified Accountants
21 New Walk
Leicester
LE1 6TE

ATLANTIC FABRICATIONS LTD (REGISTERED NUMBER: 07642022)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 217,173 223,391

Current assets
Stocks 5,000 5,000
Debtors 5 35,198 56,863
Cash at bank 45,790 38,259
85,988 100,122
Creditors
Amounts falling due within one year 6 70,250 89,106
Net current assets 15,738 11,016
Total assets less current liabilities 232,911 234,407

Creditors
Amounts falling due after more than one year 7 159,536 170,917
Net assets 73,375 63,490

Capital and reserves
Called up share capital 2 2
Retained earnings 73,373 63,488
73,375 63,490

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13 December 2023 and were signed on its behalf by:





N Varden - Director


ATLANTIC FABRICATIONS LTD (REGISTERED NUMBER: 07642022)

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

1. Statutory information

Atlantic Fabrications 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 6 (2022 - 6 ) .

ATLANTIC FABRICATIONS LTD (REGISTERED NUMBER: 07642022)

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

4. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 June 2022 211,938 56,496 268,434
Additions - 2,239 2,239
At 31 May 2023 211,938 58,735 270,673
Depreciation
At 1 June 2022 3,179 41,864 45,043
Charge for year 4,239 4,218 8,457
At 31 May 2023 7,418 46,082 53,500
Net book value
At 31 May 2023 204,520 12,653 217,173
At 31 May 2022 208,759 14,632 223,391

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 17,222 37,257
Other debtors 17,976 19,606
35,198 56,863

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 44,440 64,633
Taxation and social security 25,810 24,473
70,250 89,106

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 159,536 170,917

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 159,536 170,917