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COMPANY REGISTRATION NUMBER: 04426598
ATRIUM DEVELOPMENTS (BEVERLEY) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2024
ATRIUM DEVELOPMENTS (BEVERLEY) LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
341
3,143
Current Assets
Stocks
507,917
507,917
Debtors
6
16
2,259
Cash at bank and in hand
5,803
8,530
-----------
-----------
513,736
518,706
Creditors: amounts falling due within one year
7
878,932
872,083
-----------
-----------
Net Current Liabilities
365,196
353,377
-----------
-----------
Total Assets Less Current Liabilities
( 364,855)
( 350,234)
-----------
-----------
Net Liabilities
( 364,855)
( 350,234)
-----------
-----------
ATRIUM DEVELOPMENTS (BEVERLEY) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
4
4
Profit and loss account
( 364,859)
( 350,238)
-----------
-----------
Shareholders Deficit
( 364,855)
( 350,234)
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Mr M Bell
Director
Company registration number: 04426598
ATRIUM DEVELOPMENTS (BEVERLEY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakwood House, Queensgate, Beverley, HU17 8NW.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
The financial statements have been prepared on the going concern basis. This is only appropriate if the company is able to continue trading. The directors consider that income streams for the foreseeable future are sufficient to cover the loan repayment requirements and that support will continue from the loan creditors. On that basis the directors consider that the company will be able to continue trading.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tools and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Stock represents development property held for resale.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible Assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
4,461
15,425
1,513
21,399
Disposals
( 15,425)
( 15,425)
--------
---------
--------
---------
At 31 January 2024
4,461
1,513
5,974
--------
---------
--------
---------
Depreciation
At 1 February 2023
4,006
12,737
1,513
18,256
Charge for the year
114
114
Disposals
( 12,737)
( 12,737)
--------
---------
--------
---------
At 31 January 2024
4,120
1,513
5,633
--------
---------
--------
---------
Carrying amount
At 31 January 2024
341
341
--------
---------
--------
---------
At 31 January 2023
455
2,688
3,143
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Other debtors
16
2,259
-----
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
821,927
821,926
Social security and other taxes
600
Other creditors
56,405
50,157
-----------
-----------
878,932
872,083
-----------
-----------
Bank borrowing is secured against the assets of the company.
8. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D Bell
Mrs S Bell
-----
-----
-----
-----
-----
-----
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr D Bell
2,364
( 2,364)
Mrs S Bell
2,364
( 2,364)
--------
--------
-----
4,728
( 4,728)
--------
--------
-----
The balances were interest free and have been repaid.