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REGISTERED NUMBER: 01339603 (England and Wales)












ATLAS BALL AND BEARING CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ATLAS BALL AND BEARING CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr A Chandler
Mr K M Blackshaw





SECRETARY: Mr A Chandler





REGISTERED OFFICE: Leamore Lane
Walsall
West Midlands
WS2 7DE





REGISTERED NUMBER: 01339603 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,283 20,482
Investments 5 30,000 30,000
45,283 50,482

CURRENT ASSETS
Stocks 765,768 817,114
Debtors 6 356,923 319,480
Cash at bank and in hand 32,217 43,491
1,154,908 1,180,085
CREDITORS
Amounts falling due within one year 7 452,720 486,912
NET CURRENT ASSETS 702,188 693,173
TOTAL ASSETS LESS CURRENT
LIABILITIES

747,471

743,655

CREDITORS
Amounts falling due after more than one
year

8

-

5,234
NET ASSETS 747,471 738,421

CAPITAL AND RESERVES
Called up share capital 9 87,545 87,545
Capital redemption reserve 22,455 22,455
Retained earnings 637,471 628,421
SHAREHOLDERS' FUNDS 747,471 738,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





Mr A Chandler - Director


ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Atlas Ball and Bearing Co. 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 42,461 10,809 74,509 25,202 152,981
DEPRECIATION
At 1 January 2023 39,350 10,660 57,287 25,202 132,499
Charge for year 1,397 50 3,752 - 5,199
At 31 December 2023 40,747 10,710 61,039 25,202 137,698
NET BOOK VALUE
At 31 December 2023 1,714 99 13,470 - 15,283
At 31 December 2022 3,111 149 17,222 - 20,482

ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 7,000 61,465 68,465
DEPRECIATION
At 1 January 2023 4,047 45,658 49,705
Charge for year 1,292 3,398 4,690
At 31 December 2023 5,339 49,056 54,395
NET BOOK VALUE
At 31 December 2023 1,661 12,409 14,070
At 31 December 2022 2,953 15,807 18,760

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 30,000
At 31 December 2022 30,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 213,240 271,083
Amounts owed by participating interests 136,403 44,614
Other debtors 7,280 3,783
356,923 319,480

ATLAS BALL AND BEARING CO. LIMITED (REGISTERED NUMBER: 01339603)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,234 6,281
Trade creditors 301,239 314,533
Taxation and social security 53,374 47,240
Other creditors 92,873 118,858
452,720 486,912

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 5,234

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
87,545 Ordinary £1 87,545 87,545