Company registration number 10770496 (England and Wales)
ATLANTIC CONSULTANCY LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
ATLANTIC CONSULTANCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ATLANTIC CONSULTANCY LTD
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
30 June 2023
30 April 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,952
6,405
Investments
4
17,314
2,623
22,266
9,028
Current assets
Stocks
15,213
1,940
Debtors
6
18,837
94,283
Cash at bank and in hand
1,957
37,981
36,007
134,204
Creditors: amounts falling due within one year
7
(49,124)
(50,436)
Net current (liabilities)/assets
(13,117)
83,768
Total assets less current liabilities
9,149
92,796
Creditors: amounts falling due after more than one year
8
(9,780)
(11,707)
Net (liabilities)/assets
(631)
81,089
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(633)
81,087
Total equity
(631)
81,089
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 period 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.
ATLANTIC CONSULTANCY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 November 2023
Mr P Williams
Director
Company registration number 10770496 (England and Wales)
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information
Atlantic Consultancy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 12a Queens Park West Drive, Bournemouth, Dorset, BH8 9BZ.
1.1
Reporting period
The reporting period has been extended to 30 June 2023 to align with related companies. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.3
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:
Fixtures and fittings
25% reducing balance
Computers
33.33% reducing balance
Bicycles
15% reducing balance
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.
1.4
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.7
Financial instruments
Classification of financial liabilities
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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Bicycles
Total
£
£
£
£
Cost
At 1 May 2022
15,628
4,337
19,965
Additions
1,019
1,019
At 30 June 2023
1,019
15,628
4,337
20,984
Depreciation and impairment
At 1 May 2022
12,476
1,084
13,560
Depreciation charged in the period
297
1,226
949
2,472
At 30 June 2023
297
13,702
2,033
16,032
Carrying amount
At 30 June 2023
722
1,926
2,304
4,952
At 30 April 2022
3,152
3,253
6,405
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2,623
2,623
Other investments other than loans
14,691
17,314
2,623
Movements in fixed asset investments
Shares in associates
Other investments
Total
£
£
£
Cost or valuation
At 1 May 2022
2,623
-
2,623
Additions
-
14,513
14,513
Valuation changes
-
368
368
Foreign exchange changes
-
(190)
(190)
At 30 June 2023
2,623
14,691
17,314
Carrying amount
At 30 June 2023
2,623
14,691
17,314
At 30 April 2022
2,623
-
2,623
5
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
14,691
-
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
18,837
94,283
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,653
1,653
Other creditors
47,471
48,783
49,124
50,436
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,780
11,707
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
3,169
5,096