REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
ATELIER 1 LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Short leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
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 |
Additions |
Disposals |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |
Additions |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |
Other debtors |
Loan to director |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 7,269 | 17,872 |
Other creditors |
Directors' current accounts | 48,312 | 25,033 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans (see note 9) |
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 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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 |
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 |
Deferred |
tax |
£ |
Balance at 1 December 2022 |
Provided during year |
Balance at 30 November 2023 |
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: | £ | £ |
A Ordinary | £0.01 | 100 | 100 |
(30.11.22 - 100 ) |
B Ordinary | £0.01 | 5 | - |
105 | 100 |
526 B Ordinary shares of £0.01 each were allotted and fully paid for |
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. |