3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,000 6,000 1,000 1,000 5,000 xbrli:pure xbrli:shares iso4217:GBP 05562418 2023-01-01 2023-12-31 05562418 2023-12-31 05562418 2022-12-31 05562418 2022-01-01 2022-12-31 05562418 2022-12-31 05562418 2021-12-31 05562418 core:PlantMachinery 2023-01-01 2023-12-31 05562418 core:MotorVehicles 2023-01-01 2023-12-31 05562418 bus:Director1 2023-01-01 2023-12-31 05562418 core:PlantMachinery 2022-12-31 05562418 core:MotorVehicles 2022-12-31 05562418 core:PlantMachinery 2023-12-31 05562418 core:MotorVehicles 2023-12-31 05562418 core:WithinOneYear 2023-12-31 05562418 core:WithinOneYear 2022-12-31 05562418 core:AfterOneYear 2023-12-31 05562418 core:AfterOneYear 2022-12-31 05562418 core:ShareCapital 2023-12-31 05562418 core:ShareCapital 2022-12-31 05562418 core:RetainedEarningsAccumulatedLosses 2023-12-31 05562418 core:RetainedEarningsAccumulatedLosses 2022-12-31 05562418 core:PlantMachinery 2022-12-31 05562418 core:MotorVehicles 2022-12-31 05562418 bus:SmallEntities 2023-01-01 2023-12-31 05562418 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05562418 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05562418 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05562418 bus:FullAccounts 2023-01-01 2023-12-31 05562418 core:OtherDeferredTax 2023-12-31 05562418 core:OtherDeferredTax 2022-12-31 05562418 core:IntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 05562418 core:OfficeEquipment 2023-01-01 2023-12-31 05562418 core:IntangibleAssetsOtherThanGoodwill 2023-12-31 05562418 core:OfficeEquipment 2022-12-31 05562418 core:OfficeEquipment 2023-12-31 05562418 core:AfterOneYear 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 05562418
Atlanta Packaging Company Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Atlanta Packaging Company Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
5,000
Tangible assets
6
35,577
67,032
--------
--------
40,577
67,032
Current assets
Stocks
4,447
5,718
Debtors
7
312,592
162,083
Cash at bank and in hand
52,513
187,328
---------
---------
369,552
355,129
Creditors: amounts falling due within one year
8
314,120
228,005
---------
---------
Net current assets
55,432
127,124
--------
---------
Total assets less current liabilities
96,009
194,156
Creditors: amounts falling due after more than one year
9
7,500
41,181
Provisions
Deferred taxation
1,371
12,736
--------
---------
Net assets
87,138
140,239
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
87,038
140,139
--------
---------
Shareholders funds
87,138
140,239
--------
---------
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.
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Atlanta Packaging Company Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 8 July 2024 , and are signed on behalf of the board by:
M Tucker
Director
Company registration number: 05562418
Atlanta Packaging Company 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 England and Wales. The address of the registered office is Capability House, Wrest Park, Silsoe, Bedfordshire, MK45 4HR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods and services rendered, stated net of discounts and of value added tax. In respect of long-term contracts and contracts for ongoing services, turnover represents the value of work done in the year with reference to the stage of completion. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the reporting date. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being recognised in profit or loss. Intangible assets Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
33% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Finance lease and hire purchase payments are apportioned between the finance charges and reduction of the outstanding lease liability using the sum of the digits method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Pension contributions
Contributions to defined pension contribution plans are recognised as an expense in the period in which the related service is provided.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight line basis.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Intangible assets
Website costs
£
Cost
Additions
6,000
-------
At 31 December 2023
6,000
-------
Amortisation
Charge for the year
1,000
-------
At 31 December 2023
1,000
-------
Carrying amount
At 31 December 2023
5,000
-------
At 31 December 2022
-------
6. Tangible assets
Plant and machinery
Motor vehicles
Office equipment
Total
£
£
£
£
Cost
At 1 January 2023
467
92,816
3,482
96,765
Additions
32,015
1,010
33,025
Disposals
( 74,161)
( 74,161)
----
--------
-------
--------
At 31 December 2023
467
50,670
4,492
55,629
----
--------
-------
--------
Depreciation
At 1 January 2023
169
27,089
2,475
29,733
Charge for the year
155
19,698
548
20,401
Disposals
( 30,082)
( 30,082)
----
--------
-------
--------
At 31 December 2023
324
16,705
3,023
20,052
----
--------
-------
--------
Carrying amount
At 31 December 2023
143
33,965
1,469
35,577
----
--------
-------
--------
At 31 December 2022
298
65,727
1,007
67,032
----
--------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
309,322
131,014
Other debtors
3,270
31,069
---------
---------
312,592
162,083
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,000
5,000
Trade creditors
251,953
146,860
Social security and other taxes
54,777
51,779
Other creditors
2,390
24,366
---------
---------
314,120
228,005
---------
---------
Included within other creditors is an amount of £nil (2022: £7,233) relating to liabilities under hire purchase agreements. Hire purchase agreements are secured on the assets concerned.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
7,500
12,500
Other creditors
28,681
-------
--------
7,500
41,181
-------
--------
Included within other creditors is an amount of £nil (2022: £28,681) relating to liabilities under hire purchase agreements. Hire purchase agreements are secured on the assets concerned.
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
1,371
12,736
-------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Capital allowances
1,371
12,736
-------
--------
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
12,192
11,832
--------
--------