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Company registration number: 03650989
Atmos Medical Limited
Unaudited filleted financial statements
31 December 2023
Atmos Medical Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Atmos Medical Limited
Directors and other information
Director Mr Peter Heinz Greiser
Company number 03650989
Registered office 11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
Accountants J Humphry Associates Ltd
11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
Atmos Medical Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 5 21,093 19,901
Cash at bank and in hand 9,901 9,764
________ ________
30,994 29,665
Creditors: amounts falling due
within one year 6 ( 2,115) ( 829)
________ ________
Net current assets 28,879 28,836
________ ________
Total assets less current liabilities 28,879 28,836
________ ________
Net assets 28,879 28,836
________ ________
Capital and reserves
Called up share capital 176,034 176,034
Share premium account 62,384 62,384
Profit and loss account ( 209,539) ( 209,582)
________ ________
Shareholders funds 28,879 28,836
________ ________
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 June 2024 , and are signed on behalf of the board by:
Mr Peter Heinz Greiser
Director
Company registration number: 03650989
Atmos Medical Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is 11a The Green, Stubbington, Fareham, Hampshire, PO14 2JG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis due to the ongoing support of the parent company until the closure of the company in the future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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
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 and 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 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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023 2022
£ £
Trade debtors 20,322 19,183
Other debtors 771 718
________ ________
21,093 19,901
________ ________
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 102 102
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,286 -
Other creditors 727 727
________ ________
2,115 829
________ ________
7. Controlling party
The company's immediate parent is Atmos Greiser Holding GmbH, incorporated in Germany.
Atmos Medical Limited
The following pages do not form part of the statutory accounts.
Atmos Medical Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Atmos Medical Limited
Year ended 31 December 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2023 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
J Humphry Associates Ltd
11a The Green
Stubbington
Fareham
Hampshire
PO14 2JG
7 June 2024