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Registrar

Registration number: 01841189

AATI Architectural Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

AATI Architectural Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

AATI Architectural Limited

Company Information

Directors

DG Bisset

R Oxborough

H J Bisset

Registered office

11 Swinbourne Drive
Springwood Industrial Estate
Braintree
Essex
CM7 2YP

Solicitors

Gisby Harrison Solicitors
Goffs Oak House
Goffs Lane
Goffs Oak
Herts
EN7 5HG

Bankers

Barclays Bank PLC
1 Bank Street
Braintree
Essex
CM7 7UQ

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

AATI Architectural Limited

(Registration number: 01841189)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,804

24,572

Current assets

 

Stocks and work in progress

5

383

2,416

Debtors

6

246,134

233,401

Cash at bank and in hand

 

1,755

29,518

 

248,272

265,335

Creditors: Amounts falling due within one year

7

(15,324)

(83,988)

Net current assets

 

232,948

181,347

Net assets

 

242,752

205,919

Capital and reserves

 

Called up share capital

8

100

100

Revaluation reserve

803

-

Retained earnings

241,849

205,819

Shareholders' funds

 

242,752

205,919

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
H J Bisset
Director

   
     
 

AATI Architectural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and the principal place of business is: 11 Swinbourne Drive, Springwood Industrial Estate, Braintree, Essex, CM7 2YP.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Changes in accounting estimate

Changes in depreciation policy

Plant and machinery depreciation policy has changed in the year from 15% reducing balance to straight line over 3-50 years.

The change in this policy was considered by the directors to be more appropriate due to the valuation undertaken in the year. This change has taken effect from the valuation date of 31/03/2024.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of manufactured cast metal products and building facades. Turnover is shown net of value added tax, returns and discounts.

The company recognises revenue when:
• the amount of revenue can be reliably measured;
• it is probable that future economic benefits will flow to the entity;
• and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

AATI Architectural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

All assets have been revalued in the year to market value.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant, machinery and standard patterns

Straight line over 3-50 years

Trade debtors

Trade debtors are amounts due from customers for the sale of metal building facades in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost, after making due allowances for obsolete and slow moving items and estimated selling price less costs to complete and sell.

Cost represents the expenditure incurred in bringing each product to its present location and condition as follows:

Raw Materials – Purchase cost
Finished goods – Cost of direct materials, transport and labour

Work in Progress represents the proportion of the job complete at the year end. It includes all direct expenditure and an appropriate proportion of fixed and variable overheads, and is uplifted to the sales value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

AATI Architectural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant, machinery and standard patterns
£

Total
£

Cost or valuation

At 1 April 2023

50,995

50,995

Additions

3,450

3,450

Revaluation

(6,057)

(6,057)

Disposals

(38,584)

(38,584)

At 31 March 2024

9,804

9,804

Depreciation

At 1 April 2023

26,423

26,423

Charge for the year

2,853

2,853

Revaluation

(6,860)

(6,860)

Eliminated on disposal

(22,416)

(22,416)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

9,804

9,804

At 31 March 2023

24,572

24,572

Revaluation

The fair value of the company's plant and machinery was revalued on 31 March 2024. An independent valuer was not involved. The revalued amounts have been derived by the directors of the company based on the market prices at the date of revaluation.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £8,125 (2023 - £24,572).

5

Stocks and work in progress

2024
£

2023
£

Stocks and work in progress

383

2,416

 

AATI Architectural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

2024
£

2023
£

Trade debtors

4,381

-

Amounts owed by group undertakings

213,384

145,959

Prepayments

999

2,945

Other debtors

27,370

84,497

246,134

233,401

Included within Debtors are balances due to group undertakings, whilst these amounts are due on demand it is unlikely they will be repaid in full during the coming year.

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,013

-

Taxation and social security

3,808

6,155

Other creditors

8,638

75,873

Accrued expenses

1,865

1,960

15,324

83,988

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

803

803

 

AATI Architectural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Advances and credits

51

-

(51)

-

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Advances and credits

51

-

-

51

         
       

 

11

Parent and ultimate parent undertaking

The company's immediate parent is Finch Seaman Enfield Group Limited, incorporated in England and Wales.

 The ultimate parent is Bisset Holdings Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Bisset Holdings Limited. These financial statements are available upon request from Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL.