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REGISTERED NUMBER: 07893545 (England and Wales)















ATLANTIC RENEWABLES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






ATLANTIC RENEWABLES LTD (REGISTERED NUMBER: 07893545)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


ATLANTIC RENEWABLES LTD (REGISTERED NUMBER: 07893545)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 157,572 180,445

Current assets
Stocks 71,500 245,398
Debtors 5 243,151 241,746
Cash at bank and in hand 195,855 365,630
510,506 852,774
Creditors
Amounts falling due within one year 6 (312,664 ) (618,632 )
Net current assets 197,842 234,142
Total assets less current liabilities 355,414 414,587

Creditors
Amounts falling due after more than one
year

7

(61,763

)

(86,739

)

Provisions for liabilities (39,393 ) (34,284 )
Net assets 254,258 293,564

Capital and reserves
Called up share capital 200 200
Retained earnings 254,058 293,364
254,258 293,564

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

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

The directors acknowledge their 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 RENEWABLES LTD (REGISTERED NUMBER: 07893545)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Mr Dean John Flute - Director


ATLANTIC RENEWABLES LTD (REGISTERED NUMBER: 07893545)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. Statutory information

Atlantic Renewables Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07893545

Registered office: 51 Hillcroft Road
Altrincham
Cheshire
WA14 4JE

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


2. Accounting policies

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements25% straight line method
Plant & machinery25% reducing balance
Computer equipment33% straight line method
Motor vehicles25% reducing balance

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

At each balance sheet date, the company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.
Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately

ATLANTIC RENEWABLES LTD (REGISTERED NUMBER: 07893545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. Accounting policies - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Leasing commitments
Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

3. Employees and directors

The average number of employees during the year was 14 (2023 - 5 ) .

ATLANTIC RENEWABLES LTD (REGISTERED NUMBER: 07893545)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. Tangible fixed assets
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 April 2023 10,420 20,005 191,209 20,376 242,010
Additions 8,718 842 16,765 1,623 27,948
At 31 March 2024 19,138 20,847 207,974 21,999 269,958
Depreciation
At 1 April 2023 3,483 5,822 46,732 5,528 61,565
Charge for year 4,240 3,659 36,469 6,453 50,821
At 31 March 2024 7,723 9,481 83,201 11,981 112,386
Net book value
At 31 March 2024 11,415 11,366 124,773 10,018 157,572
At 31 March 2023 6,937 14,183 144,477 14,848 180,445

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 144,706 147,325
Other debtors 98,445 94,421
243,151 241,746

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 40,296 37,698
Trade creditors 72,267 164,488
Taxation and social security 155,567 107,141
Other creditors 44,534 309,305
312,664 618,632

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 61,763 86,739

8. Directors' advances, credits and guarantees

At 31 March 2024 company owed £9,252 to the directors (2023: £203,180). No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.