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REGISTERED NUMBER: 02835918 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

ATELIER 1 LIMITED

ATELIER 1 LIMITED (Registered number: 02835918)






Contents of the Financial Statements
for the Year Ended 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ATELIER 1 LIMITED

Company Information
for the Year Ended 30 NOVEMBER 2023







DIRECTORS: A Chadwick
N Thomas
C P T Matthews





SECRETARY: Miss H Sugden





REGISTERED OFFICE: Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 02835918 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

ATELIER 1 LIMITED (Registered number: 02835918)

Balance Sheet
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 906,514 898,533
Investments 5 66,926 55,273
973,440 953,806

CURRENT ASSETS
Debtors 6 517,242 402,968
Cash at bank and in hand 176,691 505,427
693,933 908,395
CREDITORS
Amounts falling due within one year 7 207,539 202,844
NET CURRENT ASSETS 486,394 705,551
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,459,834

1,659,357

CREDITORS
Amounts falling due after more than one year 8 (364,481 ) (392,091 )

PROVISIONS FOR LIABILITIES 11 (10,802 ) (6,245 )
NET ASSETS 1,084,551 1,261,021

CAPITAL AND RESERVES
Called up share capital 12 105 100
Retained earnings 1,084,446 1,260,921
SHAREHOLDERS' FUNDS 1,084,551 1,261,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

ATELIER 1 LIMITED (Registered number: 02835918)

Balance Sheet - continued
30 NOVEMBER 2023


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 20 August 2024 and were signed on its behalf by:





A Chadwick - Director


ATELIER 1 LIMITED (Registered number: 02835918)

Notes to the Financial Statements
for the Year Ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

ATELIER 1 LIMITED 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.

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the lease term
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

The freehold property is consistently maintained to a high standard and therefore the directors believe that as there has been no diminishment in value, no deprecation needs to be provided for.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date.Transactions in foreign currencies are recorded at the date of the transactions.All differences are taken to Profit and Loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

ATELIER 1 LIMITED (Registered number: 02835918)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Freehold Short Leasehold
property leasehold improvements
£    £    £   
COST
At 1 December 2022 859,068 10,311 11,827
Additions - - -
Disposals - - -
At 30 November 2023 859,068 10,311 11,827
DEPRECIATION
At 1 December 2022 - 10,311 11,827
Charge for year - - -
Eliminated on disposal - - -
At 30 November 2023 - 10,311 11,827
NET BOOK VALUE
At 30 November 2023 859,068 - -
At 30 November 2022 859,068 - -

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 421,903 103,652 1,406,761
Additions 15,332 4,083 19,415
Disposals - (1,426 ) (1,426 )
At 30 November 2023 437,235 106,309 1,424,750
DEPRECIATION
At 1 December 2022 398,368 87,722 508,228
Charge for year 5,830 4,802 10,632
Eliminated on disposal - (624 ) (624 )
At 30 November 2023 404,198 91,900 518,236
NET BOOK VALUE
At 30 November 2023 33,037 14,409 906,514
At 30 November 2022 23,535 15,930 898,533

ATELIER 1 LIMITED (Registered number: 02835918)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022 55,273
Additions 11,653
At 30 November 2023 66,926
NET BOOK VALUE
At 30 November 2023 66,926
At 30 November 2022 55,273

The fixed asset investments represent 15% of the issued share capital of Augmented Haptics Limited, a company registered in England, registered number 13147031.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 411,121 284,456
Other debtors 15,303 15,298
Loan to director 14,446 15,339
Prepayments 76,372 87,875
517,242 402,968

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 9) 32,807 36,091
Trade creditors 73,680 80,699
Tax 246 -
Social security and other taxes 20,029 16,665
VAT 7,269 17,872
Other creditors 13,043 7,054
Directors' current accounts 48,312 25,033
Accrued expenses 12,153 19,430
207,539 202,844

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 364,481 392,091

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 209,786 261,894

ATELIER 1 LIMITED (Registered number: 02835918)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023

9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loan 32,807 36,091

Amounts falling due between one and two years:
Bank loans - 1-2 years 37,100 36,091

Amounts falling due between two and five years:
Bank loans - 2-5 years 117,595 94,106

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 209,786 261,894

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 397,288 428,182

The bank loan was secured on 15 November 2019 by way of a legal charge over the freehold property.

11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax
Accelerated capital allowances 10,802 6,245

Deferred
tax
£   
Balance at 1 December 2022 6,245
Provided during year 4,557
Balance at 30 November 2023 10,802

ATELIER 1 LIMITED (Registered number: 02835918)

Notes to the Financial Statements - continued
for the Year Ended 30 NOVEMBER 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
10,000 A Ordinary £0.01 100 100
(30.11.22 - 100 )
526 B Ordinary £0.01 5 -
105 100

526 B Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the year.

On 27 June 2023 the company's Ordinary share of £1 each were reclassified as A Ordinary shares of £0.01. Furthermore, 526 B Ordinary shares of £0.01 each were allotted and fully paid for cash at par.

13. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous year by the N Thomas and A Chadwick by virtue of their controlling shareholding.

14. SECURITY

The company's bankers have secured any bank borrowings by way of a debenture over the company's assets.