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Registered number: 14104739
Atlantis Mif Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
SKZ Chartered Certified Accountants
Chartered Certified Accountants
Unit 1, Kataria Point
1 Riches R
Ilford
Essex
IG1 1JH
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14104739
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 24,138 31,592
24,138 31,592
CURRENT ASSETS
Debtors 4 20,257 1,100
Cash at bank and in hand 22,263 38,987
42,520 40,087
Creditors: Amounts Falling Due Within One Year 5 (2,323 ) (16,200 )
NET CURRENT ASSETS (LIABILITIES) 40,197 23,887
TOTAL ASSETS LESS CURRENT LIABILITIES 64,335 55,479
Creditors: Amounts Falling Due After More Than One Year 6 (84,033 ) (70,248 )
NET LIABILITIES (19,698 ) (14,769 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (19,798 ) (14,869 )
SHAREHOLDERS' FUNDS (19,698) (14,769)
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Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ahmed Mahmoud Elsayed Elsayed FOUDA
Director
21/06/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% SLM
Computer Equipment 33.33% SLM
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2023: 1)
2 1
3. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 35,745 915 36,660
As at 31 May 2024 35,745 915 36,660
Depreciation
As at 1 June 2023 4,766 302 5,068
Provided during the period 7,149 305 7,454
As at 31 May 2024 11,915 607 12,522
Net Book Value
As at 31 May 2024 23,830 308 24,138
As at 1 June 2023 30,979 613 31,592
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Page 4
4. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Trade debtors 20,000 -
VAT 257 1,100
20,257 1,100
5. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Net wages 182 -
Accruals and deferred income 1,512 1,692
Director's loan account 629 14,508
2,323 16,200
6. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 31 May 2023
£ £
Other loans 23,373 30,388
Amounts owed to group undertakings 60,660 39,860
84,033 70,248
7. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
8. General Information
Atlantis Mif Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14104739 . The registered office is Unit 1, Kataria Point, 1 Riches R, Ilford, Essex, IG1 1JH.
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