Registered number
08836111
ATEC DB Ltd
Filleted Accounts
31 January 2024
ATEC DB Ltd
Registered number: 08836111
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,052 18,123
Current assets
Debtors 4 67,000 (230)
Cash at bank and in hand 262 18,615
67,262 18,385
Creditors: amounts falling due within one year 5 (58,321) (13,729)
Net current assets 8,941 4,656
Total assets less current liabilities 24,993 22,779
Creditors: amounts falling due after more than one year 6 (13,761) (15,248)
Net assets 11,232 7,531
Capital and reserves
Called up share capital 1 1
Profit and loss account 11,231 7,530
Shareholder's funds 11,232 7,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Gutu
Director
Approved by the board on 29 October 2024
ATEC DB Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 1,772 23,691 25,463
Additions 2,138 - 2,138
At 31 January 2024 3,910 23,691 27,601
Depreciation
At 1 February 2023 790 6,550 7,340
Charge for the year 780 3,429 4,209
At 31 January 2024 1,570 9,979 11,549
Net book value
At 31 January 2024 2,340 13,712 16,052
At 31 January 2023 982 17,141 18,123
4 Debtors 2024 2023
£ £
Trade debtors - (230)
Other debtors 67,000 -
67,000 (230)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,889 4,000
Obligations under finance lease and hire purchase contracts - 3,428
Trade creditors 3,142 82
Corporation tax 11,304 4,798
Other taxes and social security costs 30,264 28,537
Other creditors 4,722 (27,116)
58,321 13,729
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,959 8,959
Obligations under finance lease and hire purchase contracts 7,802 6,289
13,761 15,248
7 Other information
ATEC DB Ltd is a private company limited by shares and incorporated in England. Its registered office is:
22 Wenlock Road
London
N1 7GU
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