Registered number
03049017
ATM (Holdings) Limited
Filleted Accounts
31 May 2024
ATM (Holdings) Limited
Registered number: 03049017
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 5 745,855 745,855
745,855 745,855
Current assets
Cash at bank and in hand 1 1
1 1
Creditors: amounts falling due within one year 6 (362,116) (362,116)
Net current liabilities (362,115) (362,115)
Net assets 383,740 383,740
Capital and reserves
Called up share capital 7 1,000 1,000
Profit and loss account 382,740 382,740
Shareholders' funds 383,740 383,740
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.
S Hirji
Director
Approved by the board on 17 December 2024
The notes form part of these financial statements.
ATM (Holdings) Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Statutory information
ATM (Holdings) Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the company information page.
The presentation currency of the accounts is the pound sterling (£).
The principal activity of the company continued to be that of a holding company.
2 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) and the Companies Act 2006.
The company is a subsidiary company, and is exempt from the requirement to prepare group accounts by virtue of section 400 of the Companies Act 2006. These accounts therefore represent information about the company as an individual undertaking and not about its group.
Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 as the amount of tax payable using the 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 the 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 they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Going concern
At the time of approving the accounts, the directors have a reasonable expectation that the company has adequate resources to continue in operating existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the accounts.
Dividends
Equity dividends are recognised when they become legally payable. Final equity dividends are recognised when approved by the shareholders.
3 Audit information
Disclosure under Section 444(5B) of the Companies Act 2006.
The Report of the Auditors was unqualified.
Matt Hutchinson FCA FCCA (Senior Statutory Auditor)
for and on behalf of The Rowleys Partnership Ltd.
Date of audit report: 17 December 2024
4 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2023 745,855
At 31 May 2024 745,855
Net Book Value
At 1 June 2023 745,855
At 31 May 2024 745,855
The company's investments at the Balance Sheet date in the share capital of companies include the following:
ATM Automation Limited
Registered office: Winchester Avenue, Blaby Industrial Park, Leicester, England, LE8 4GZ.
Nature of business: Design, manufacture and sale of robotics.
%
Class of shares: Holding:
Ordinary 100
6 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings 362,103 362,103
Other creditors 13 13
362,116 362,116
7 Called up share capital 2024 2023
£ £
Allotted, issued and fully paid: Nominal
Number: Class: value:
1,000 Ordinary £1 1,000 1,000
8 Contingent liabilities
The assets of the company are secured by way of a cross guarantee in favour of the bank loans and other loans in the ultimate parent company, Mahtec Limited. At 31 May 2024, borrowing of £1,210,150 (2023: £1,553,550) were covered by this guarantee.
9 Controlling party
The immediate and ultimate parent undertaking of the company is Mahtec Limited, a company incorporated in the United Kingdom.
The ultimate controlling party is considered to be S Hirji, by virtue of his controlling equity interests in Mahtec Limited.
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