Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-012falsefalseNo description of principal activityfalse2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09332101 2023-01-01 2023-12-31 09332101 2022-01-01 2022-12-31 09332101 2023-12-31 09332101 2022-12-31 09332101 c:Director1 2023-01-01 2023-12-31 09332101 d:FreeholdInvestmentProperty 2023-12-31 09332101 d:FreeholdInvestmentProperty 2022-12-31 09332101 d:CurrentFinancialInstruments 2023-12-31 09332101 d:CurrentFinancialInstruments 2022-12-31 09332101 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09332101 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09332101 d:ShareCapital 2023-12-31 09332101 d:ShareCapital 2022-12-31 09332101 d:RetainedEarningsAccumulatedLosses 2023-12-31 09332101 d:RetainedEarningsAccumulatedLosses 2022-12-31 09332101 c:OrdinaryShareClass1 2023-01-01 2023-12-31 09332101 c:OrdinaryShareClass1 2023-12-31 09332101 c:FRS102 2023-01-01 2023-12-31 09332101 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09332101 c:FullAccounts 2023-01-01 2023-12-31 09332101 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09332101 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09332101









ATLAS COMMERCIAL PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ATLAS COMMERCIAL PROPERTY LIMITED
REGISTERED NUMBER: 09332101

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

            
2023
            
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
1,763,589
1,763,589

Current assets
  

Cash at bank and in hand
 5 
100
100

Creditors: amounts falling due within one year
 6 
(1,214,942)
(1,315,231)

Net current liabilities
  
 
 
(1,214,842)
 
 
(1,315,131)

  

Net assets
  
548,747
448,458


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
548,647
448,358

  
548,747
448,458


Page 1

 
ATLAS COMMERCIAL PROPERTY LIMITED
REGISTERED NUMBER: 09332101
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 September 2024.




N J Earley
Director


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
ATLAS COMMERCIAL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Atlas Commercial Property Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT.
The company specialises in commercial property rental.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006, and on the assumption that the company is a going concern.
The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding, the net current liabilities of £1,214,842 (2022 - £1,315,131), which the directors believe to be appropriate for the following reason. 
The directors have confirmed that Atlas FM Limited, which has a common director, has provided the company with an undertaking that they will continue to support the company until it is in a position to  repay the outstanding loan.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

Revenue represents income from the provision of rental properties and other services provided by the company. Rental income is recognised over the length of the respective lease term. Revenue relating to other services is recognised when the service is provided.

 
2.4

Investment property

Investment property is carried at fair value determined annually by other directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 3

 
ATLAS COMMERCIAL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Taxation

Tax is recognised in  the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
1,763,589



At 31 December 2023
1,763,589

The 2023 valuations were made by the directors, who are not qualified valuers, on an open market value for existing use basis.




Page 4

 
ATLAS COMMERCIAL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
100
100

100
100



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
75,079
44,448

Other creditors
1,135,643
1,262,243

Accruals and deferred income
4,220
8,540

1,214,942
1,315,231



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



8.


Related party transactions

During the year, rent of £126,600 (2022 - £125,100) was charged to a company with a common director.
Included within other creditors is an amount of £1,135,643 
(2022 - £1,262,243) due to a company with a common director. During the year, the company made net repayments of £126,600 (2022 - £119,350) against the loan.  No interest is accruing or payable on this loan.


9.


Controlling party

The ultimate controlling parties of the company are N J Earley and T H Earley, the directors.
 
Page 5