REGISTERED NUMBER: |
AUTOMATED TECHNOLOGY EUROPE LIMITED |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
AUTOMATED TECHNOLOGY EUROPE LIMITED |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
AUTOMATED TECHNOLOGY EUROPE LIMITED (REGISTERED NUMBER: 03303461) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 4 | to | 6 |
AUTOMATED TECHNOLOGY EUROPE LIMITED |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
Bankers: |
90 High Street |
Coleshill |
Birmingham |
West Midlands |
B46 3AQ |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Automated Technology Europe Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Automated Technology Europe Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
This report is made solely to the Board of Directors of Automated Technology Europe Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Automated Technology Europe Limited and state those matters that we have agreed to state to the Board of Directors of Automated Technology Europe Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Automated Technology Europe Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Automated Technology Europe Limited. You consider that Automated Technology Europe Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Automated Technology Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
AUTOMATED TECHNOLOGY EUROPE LIMITED (REGISTERED NUMBER: 03303461) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Creditors |
Amounts falling due after more than one year | 8 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | 10 | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AUTOMATED TECHNOLOGY EUROPE LIMITED (REGISTERED NUMBER: 03303461) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Automated Technology Europe Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costless any accumulated amortisation and any accumulated impairment losses. |
Amortisation |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Patents and licences - Over 10 years |
The useful economic life of patents and licences has been revised to 10 years. |
Fixed assets |
All fixed assets are initially recorded at cost. |
Depreciation |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,over the useful economic life of that asset as follows: |
Fixtures and fittings - | 25 % straight line |
Motor vehicles - | 25 % straight line |
Computer equipment - | 25 % straight line |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the transaction. Exchange differences are taken into account in arriving at the operating profit. |
AUTOMATED TECHNOLOGY EUROPE LIMITED (REGISTERED NUMBER: 03303461) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Patents |
and |
licences |
£ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Amortisation |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Tangible fixed assets |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 January 2023 |
Additions |
At 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
AUTOMATED TECHNOLOGY EUROPE LIMITED (REGISTERED NUMBER: 03303461) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
9. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
10. | Reserves |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 December 2023 | ( |
) |
11. | Related party transactions |
C R Carberry, a director of the company, has the controlling interest in the share capital of the company. |
The directors each have a loan account with the company. At the year end there was a balance of £107,435 owed to C R Carberry (2022: £77,700), and a balance of £26 owed to A J Howlett (2022: £26). |
There is a balance in other debtors of £52,851 (2022: £50,515) due from Lowry Industries Limited, a company owned by Mr C R Carberry. |