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REGISTERED NUMBER: 05816541 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

ATOPBANK LTD

ATOPBANK LTD (REGISTERED NUMBER: 05816541)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ATOPBANK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: S Rand





SECRETARY: E Adolf





REGISTERED OFFICE: 115 Craven Park Road
London
N15 6BL





REGISTERED NUMBER: 05816541 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 668 785
Investment property 5 1,400,000 1,400,000
1,400,668 1,400,785

CURRENT ASSETS
Debtors 6 455 35,500
Cash at bank 5,392 9,301
5,847 44,801
CREDITORS
Amounts falling due within one year 7 (436,781 ) (471,129 )
NET CURRENT LIABILITIES (430,934 ) (426,328 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,734

974,457

CREDITORS
Amounts falling due after more than one
year

8

(353,230

)

(377,820

)
NET ASSETS 616,504 596,637

CAPITAL AND RESERVES
Called up share capital 11 1 1
Revaluation reserve 12 449,032 449,032
Retained earnings 12 167,471 147,604
SHAREHOLDERS' FUNDS 616,504 596,637

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 director and authorised for issue on 27 February 2025 and were signed by:





S Rand - Director


ATOPBANK LTD (REGISTERED NUMBER: 05816541)

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

1. STATUTORY INFORMATION

ATOPBANK LTD is a private company, limited by shares , registered 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 3,605
DEPRECIATION
At 1 June 2023 2,820
Charge for year 117
At 31 May 2024 2,937
NET BOOK VALUE
At 31 May 2024 668
At 31 May 2023 785

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,400,000
NET BOOK VALUE
At 31 May 2024 1,400,000
At 31 May 2023 1,400,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2017 449,032
Cost 950,968
1,400,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 455 -
Other debtors - 35,500
455 35,500

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax 4,688 4,396
Other creditors 430,953 465,653
Accrued expenses 1,140 1,080
436,781 471,129

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 338,230 360,320
Other loans (see note 9) 15,000 17,500
353,230 377,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 338,230 360,320
Other loans more 5yrs instal 15,000 17,500
353,230 377,820

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 338,230 360,320
Other loans more 5yrs instal 15,000 17,500
353,230 377,820

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 338,230 360,320

1. The mortgage is secured by a first charge over the company's investment properties and bear interest at variable rates.

2. Under the bank loan, £15,000 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

ATOPBANK LTD (REGISTERED NUMBER: 05816541)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 147,604 449,032 596,636
Profit for the year 19,867 19,867
At 31 May 2024 167,471 449,032 616,503

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Schmuel Adolf.