IRIS Accounts Production v24.3.0.553 08622351 director 1.9.23 31.8.24 31.8.24 false true false false true false Ordinary 1.00000 Ordinary-A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086223512023-08-31086223512024-08-31086223512023-09-012024-08-31086223512022-08-31086223512022-09-012023-08-31086223512023-08-3108622351ns14:PoundSterling2023-09-012024-08-3108622351ns10:Director12023-09-012024-08-3108622351ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3108622351ns10:SmallEntities2023-09-012024-08-3108622351ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3108622351ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3108622351ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3108622351ns10:FullAccounts2023-09-012024-08-3108622351ns10:OrdinaryShareClass12023-09-012024-08-3108622351ns10:OrdinaryShareClass22023-09-012024-08-3108622351ns5:CurrentFinancialInstruments2024-08-3108622351ns5:CurrentFinancialInstruments2023-08-3108622351ns5:Non-currentFinancialInstruments2024-08-3108622351ns5:Non-currentFinancialInstruments2023-08-3108622351ns5:ShareCapital2024-08-3108622351ns5:ShareCapital2023-08-3108622351ns5:RetainedEarningsAccumulatedLosses2024-08-3108622351ns5:RetainedEarningsAccumulatedLosses2023-08-3108622351ns10:RegisteredOffice2023-09-012024-08-3108622351ns5:LandBuildingsns5:ShortLeaseholdAssets2023-09-012024-08-3108622351ns5:MotorVehicles2023-09-012024-08-3108622351ns5:ComputerEquipment2023-09-012024-08-3108622351ns5:LandBuildingsns5:ShortLeaseholdAssets2023-08-3108622351ns5:MotorVehicles2023-08-3108622351ns5:ComputerEquipment2023-08-3108622351ns5:LandBuildingsns5:ShortLeaseholdAssets2024-08-3108622351ns5:MotorVehicles2024-08-3108622351ns5:ComputerEquipment2024-08-3108622351ns5:LandBuildingsns5:ShortLeaseholdAssets2023-08-3108622351ns5:MotorVehicles2023-08-3108622351ns5:ComputerEquipment2023-08-3108622351ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3108622351ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3108622351ns5:CurrentFinancialInstruments2023-09-012024-08-3108622351ns5:Non-currentFinancialInstruments2023-09-012024-08-3108622351ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-08-3108622351ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-08-3108622351ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-08-3108622351ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-08-3108622351ns5:HirePurchaseContracts2024-08-3108622351ns5:HirePurchaseContracts2023-08-3108622351ns5:WithinOneYear2024-08-3108622351ns5:WithinOneYear2023-08-3108622351ns5:BetweenOneFiveYears2024-08-3108622351ns5:BetweenOneFiveYears2023-08-3108622351ns5:AllPeriods2024-08-3108622351ns5:AllPeriods2023-08-3108622351ns10:OrdinaryShareClass12024-08-3108622351ns10:OrdinaryShareClass22024-08-31
REGISTERED NUMBER: 08622351 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

ATLANTIC RESOURCE (SERVICES) LTD

ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27,569 38,114

CURRENT ASSETS
Debtors 6 654,379 600,283
Cash at bank and in hand 226,979 158,536
881,358 758,819
CREDITORS
Amounts falling due within one year 7 458,825 432,839
NET CURRENT ASSETS 422,533 325,980
TOTAL ASSETS LESS CURRENT LIABILITIES 450,102 364,094

CREDITORS
Amounts falling due after more than one
year

8

(19,862

)

(23,103

)

PROVISIONS FOR LIABILITIES (6,333 ) (8,617 )
NET ASSETS 423,907 332,374

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 423,807 332,274
SHAREHOLDERS' FUNDS 423,907 332,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 November 2024 and were signed by:





Mr S N James - Director


ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Atlantic Resource (Services) Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 08622351

Registered office: Womanby House
Jones Court
Womanby Street
Cardiff
CF10 1BR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 33% Straight line
Motor vehicles - 25% on reducing balance
Computer equipment - 33% Straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


3. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis

Dividends
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared

Financial Instruments

Classification
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 194 (2023 - 222 ) .

ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


5. TANGIBLE FIXED ASSETS
Short Motor Computer
leasehold vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 9,900 36,300 16,530 62,730
Additions - - 323 323
At 31 August 2024 9,900 36,300 16,853 63,053
DEPRECIATION
At 1 September 2023 9,900 605 14,111 24,616
Charge for year - 8,924 1,944 10,868
At 31 August 2024 9,900 9,529 16,055 35,484
NET BOOK VALUE
At 31 August 2024 - 26,771 798 27,569
At 31 August 2023 - 35,695 2,419 38,114

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 531,132 561,049
Other debtors 81,022 37,467
Prepayments 42,225 1,767
654,379 600,283

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 3,240 2,779
Social security and other taxes 315,411 303,949
Other creditors 45,710 40,482
Accruals and deferred income 94,464 85,629
458,825 432,839

The hire purchase liabilities as secured against the assets to which they relate.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 19,862 23,103

ATLANTIC RESOURCE (SERVICES) LTD (REGISTERED NUMBER: 08622351)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The hire purchase liabilities as secured against the assets to which they relate.

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,240 2,779
Between one and five years 19,862 23,103
23,102 25,882

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,000 16,500
Between one and five years 12,000 -
30,000 16,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
95 Ordinary £1 95 95
5 Ordinary-A £1 5 5
100 100