Registered number
11958987
Atlas Production Studio Ltd
Filleted Accounts
30 April 2024
Atlas Production Studio Ltd
Registered number: 11958987
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 51,704 58,585
Current assets
Cash at bank and in hand 2,848 7,394
Creditors: amounts falling due within one year 4 (10,561) (17,224)
Net current liabilities (7,713) (9,830)
Total assets less current liabilities 43,991 48,755
Creditors: amounts falling due after more than one year 5 (22,839) (28,951)
Provisions for liabilities (8,308) (11,000)
Net assets 12,844 8,804
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,843 8,803
Shareholder's funds 12,844 8,804
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Campbell
Director
Approved by the board on 30 July 2024
Atlas Production Studio Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard), and with the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Atlas Production Studio Ltd is a private company limited by shares and incorporated in England. Its registered office is:
169 Handley Road
New Whittington
Chesterfield
Derbyshire
S43 2EP
The financial statements are prepared in Sterling (£) which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within the profit and loss account.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

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 currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment, fixtures & fittings Motor vehicles Total
£ £ £
Cost
At 1 May 2023 81,707 22,495 104,202
Additions 10,326 - 10,326
At 30 April 2024 92,033 22,495 114,528
Depreciation
At 1 May 2023 39,992 5,625 45,617
Charge for the year 12,989 4,218 17,207
At 30 April 2024 52,981 9,843 62,824
Net book value
At 30 April 2024 39,052 12,652 51,704
At 30 April 2023 41,715 16,870 58,585
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,398 2,325
Obligations under finance lease and hire purchase contracts 3,719 3,719
Trade creditors - 1,839
Taxation and social security costs 3,509 1,587
Other creditors 935 7,754
10,561 17,224
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,782 17,175
Obligations under hire purchase contracts 8,057 11,776
22,839 28,951
6 Loans 2024 2023
£ £
Creditors include:
Obligations under hire purchase contracts 11,776 15,495
Secured bank loans 17,175 19,515
The obligations under hire purchase contracts are secured upon the asset to which they relate.

The company took advantage of the Bounce Back Loan Scheme (BBLS), the government guarantees 100% of the loan.
7 Controlling party
The company is controlled by the director by virtue of his majority shareholding.
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