Registered number
13209159
ATSAL LTD
Filleted Accounts
31 January 2024
ATSAL LTD
Registered number: 13209159
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,000 5,000
Tangible assets 4 7,769 9,475
12,769 14,475
Current assets
Debtors 5 18,909 -
Cash at bank and in hand 7,695 19,375
26,604 19,375
Creditors: amounts falling due within one year 6 (4,945) (3,168)
Net current assets 21,659 16,207
Total assets less current liabilities 34,428 30,682
Creditors: amounts falling due after more than one year 7 (44,825) (49,581)
Net liabilities (10,397) (18,899)
Capital and reserves
Called up share capital 10 10
Profit and loss account (10,407) (18,909)
Shareholder's funds (10,397) (18,899)
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.
_________________
Muhammad SALEEM
Director
Approved by the board on 30 January 2025
ATSAL LTD
Notes to the Accounts
for the period from 1 March 2023 to 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 18% reducing balance
Fixtures, fittings, tools and equipment 18% reducing balance
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
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 5,000
At 31 January 2024 5,000
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 5,000
At 28 February 2023 5,000
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 11,555
At 31 January 2024 11,555
Depreciation
At 1 March 2023 2,080
Charge for the period 1,706
At 31 January 2024 3,786
Net book value
At 31 January 2024 7,769
At 28 February 2023 9,475
5 Debtors 2024 2023
£ £
Deferred tax asset 18,909 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,976 1,813
Taxation and social security costs 825 638
Other creditors 2,144 717
4,945 3,168
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 44,825 49,581
8 Other information
ATSAL LTD is a private company limited by shares and incorporated in England. Its registered office is:
215 Gospel Lane
Birmingham
England
B27 7AX
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