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ATP Holdings Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2023

Registration number: 04194059

 

ATP Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

ATP Holdings Limited

Company Information

Directors

Mr A Trump

Mrs J Trump

Company secretary

Mrs J Trump

Registered office

Vici House
2 Mallard Road
Sowton
Exeter
EX2 7LD

Accountants

Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

 

ATP Holdings Limited

Balance Sheet

30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

6,945,999

7,070,999

Investments

5

940,002

939,599

 

7,886,001

8,010,598

Current assets

 

Debtors

6

66,912

61,775

Cash at bank and in hand

 

65,321

205,747

 

132,233

267,522

Creditors: Amounts falling due within one year

7

(1,587,105)

(1,637,386)

Net current liabilities

 

(1,454,872)

(1,369,864)

Total assets less current liabilities

 

6,431,129

6,640,734

Creditors: Amounts falling due after more than one year

7

(1,940,677)

(2,272,772)

Provisions for liabilities

(427,984)

(427,984)

Net assets

 

4,062,468

3,939,978

Capital and reserves

 

Called up share capital

10

1

1

Profit and loss account

4,062,467

3,939,977

Shareholders' funds

 

4,062,468

3,939,978

 

ATP Holdings Limited

Balance Sheet

30 November 2023

For the financial year ending 30 November 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 year 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

.........................................
Mr A Trump
Director

Company Registration Number: 04194059

 

ATP Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Vici House
2 Mallard Road
Sowton
Exeter
EX2 7LD

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' , including Section 1A, "FRS 102" and the Companies Act 2006. There is no material departures from FRS 102.

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. The financial statment are presented in pounds sterling.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemptions provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern

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

Revenue recognition

Turnover represents amounts chargeable in respect of rental amounts receivable during the year, exclusive of Value Added Tax.

Tax

Tax is recognised in the profit or loss, calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 

ATP Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

Investment property

Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Fair value is determined by the director using his knowledge of current market prices, primarily driven by rental yields.

Deferred tax is recognised on all timing differences between the carrying value of properties' and their base cost at the balance sheet date. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans;
• Cash and bank balances; and
• Informal inter-company loans.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

The exception to this is bank loans, these are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 5).

 

ATP Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

4

Investment properties

2023
£

At 1 December

7,070,999

Disposals

(125,000)

At 30 November

6,945,999

5

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Investments in joint ventures

940,001

939,598

940,002

939,599

Joint ventures

£

Cost and carrying value

At 1 December 2022

939,598

Drawings

(13,334)

Share of profit for the year

12,025

Capital introduced

1,712

At 30 November 2023

940,001

Details of undertakings

The company holds the entire called up share capital of Urbanbridge Limited (company number: 04191281) and is party to an unincorporated joint venture. The relevant address for both of these is the company's registered office as disclosed in note 1.

6

Debtors

2023
 £

2022
 £

Trade debtors

6,611

9,385

Prepayments

60,301

52,390

66,912

61,775

 

ATP Holdings Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
 £

2022
 £

Due within one year

Bank loans

200,000

252,470

Trade creditors

8,044

9,847

Amounts due to group undertakings

269,737

389,839

Other creditors

1,030,180

936,004

Accrued expenses

14,082

11,643

Corporation tax

65,062

37,583

1,587,105

1,637,386

Bank borrowings are secured on all assets of the company by way of fixed and floating charges.

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

1,940,677

2,272,772

8

Parent and ultimate parent undertaking

The company's immediate parent is Allen Trump Holdings Limited, incorporated in England & Wales.

 The ultimate parent is AT Property Holdings Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr A Trump.

9

Reserves

Included within the profit and loss account is £2,752,865 (2022: £2,796,985) relating to unrealised revaluation gains on investment properties.

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1