Registrar
Registration number:
AATI Rail Limited
for the Year Ended 31 March 2024
AATI Rail Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
AATI Rail Limited
Company Information
Directors |
R Oxborough H J Bisset DG Bisset |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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AATI Rail Limited
(Registration number: 08183811)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Revaluation reserve |
384,871 |
411,227 |
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Retained earnings |
986,727 |
958,715 |
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Shareholders' funds |
1,381,598 |
1,379,942 |
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:
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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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office and principal place of business is:
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
Office equipment depreciation policy has changed in the year from 15% reducing balance to straight line over 1-3 years.
Plant and machinery depreciation policy has changed in the year from 2-10% straight line / 15% reducing balance to straight line over 1-59 years.
Fixtures and fittings depreciation policy has changed in the year from 15% reducing balance to straight line over 3-15 years.
These changes in policy were 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 cast stair nosings products. 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.
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Tax
Tax is recognised in profit or 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.
Intangible fixed assets
This comprises of capitalised costs in relation to designs and trademark costs. The anticipated useful life of the costs capitalised is ten years.
Tangible assets
Tangible assets are stated in the statement of financial position at market value, 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 |
Office equipment |
Straight line over 1-3 years |
Plant & equipment |
Straight line over 1-59 years |
Fixtures and fittings |
Straight line over 3-15 years |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost over their useful lives, as follows:
Asset class |
Amortisation method and rate |
Designs and trademarks |
10% Straight line method |
Trade debtors
Trade debtors are amounts due from customers for the sale of stair nosings 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.
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
No members of staff are employed directly through AATI Rail Limited and staff costs are recharged through management charges by other group members.
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Intangible assets |
Designs & trademark costs |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
- |
- |
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Tangible assets |
Fixtures and fittings |
Office equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
- |
- |
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Revaluation |
( |
( |
( |
( |
Disposals |
- |
( |
( |
( |
At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
- |
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Eliminated on disposal |
- |
( |
( |
( |
Revaluation |
( |
( |
( |
( |
At 31 March 2024 |
- |
- |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Revaluation
The fair value of all of the company's asset classes were revalued on
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Stocks and work in progress |
2024 |
2023 |
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Stocks and work in progress |
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378,528 |
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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Included within Debtors are balances due from group undertakings, whilst these amounts are due on demand it is unlikely they will be repaid in full during the coming year.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Other creditors |
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Accrued expenses |
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Creditors due within one year include invoice discounting facilities and net obligations under finance lease and hire purchase contracts which are secured of £4,469 (2023 - £153,891).
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Creditors due after one year include net obligations under finance lease and hire purchase contracts which are secured of £15,629 (2023 - £19,624).
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
AATI Rail Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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 |
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Surplus/deficit on property, plant and equipment revaluation |
( |
( |
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Revaluation reserve |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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Loans and borrowings |
Current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Non-current loans and borrowings
2024 |
2023 |
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Hire purchase contracts |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is