REGISTERED NUMBER: |
ATI UK HOLDINGS LTD |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
REGISTERED NUMBER: |
ATI UK HOLDINGS LTD |
STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 | to | 3 |
Report of the Directors | 4 | to | 5 |
Report of the Independent Auditors | 6 | to | 8 |
Statement of Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Notes to the Financial Statements | 12 | to | 16 |
ATI UK HOLDINGS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH JUNE 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
3365 The Pentagon |
Century Way |
Thorpe Park |
Leeds |
West Yorkshire |
LS15 8ZB |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30TH JUNE 2024 |
The directors present their strategic report together with the audited financial statements for the year ended 30 June 2024. |
REVIEW OF BUSINESS |
The Company's principal activity during the year was to hold investment in Groundsure Limited which is a provider of environmental searches, data mapping and reports for residential and commercial property markets and mining reports. |
Key performance indicators |
The key financial and other performance indicators for the year were as follows: |
2024 | 2023 |
£'000 | £'000 |
Profit/(loss) before tax | (9,592) | 2,196 |
Investments | 157,786 | 157,967 |
Debtors | 25,480 | 17,579 |
Creditors | (193,432) | (176,049) |
Equity shareholders’ funds | (10,166) | (504) |
Profit after tax for the year includes interest payable and similar expenses. |
The directors remain satisfied with the level of investment. The directors are satisfied with the performance of investments, which relates to Groundsure Limited. No indicators of impairment were identified. |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
STRATEGIC REPORT |
FOR THE YEAR ENDED 30TH JUNE 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
The principal risks and uncertainties facing the company are summarised as follows: |
Financial instrument risks (Liquidity risk, credit risk, foreign currency exchange risk and investment impairment risk) |
Liquidity risk describes the company's ability to meet its liabilities as and when they fall due. The directors manage exposure to liquidity risk centrally and in conjunction with cash-flows of a subsidiary, Groundsure Limited (together "the ATIUK Group") and the ATI Global Group as all companies in the Group operate under common finance and treasury teams and are under common control. |
The ATI UK Group and ATI Global Group manages its cash flow's closely. It has processes and controls in place to forecast short and long-term cash flow requirements. The Group holds cash balances that are higher than the forecast cash requirement for its operations. |
Credit risk is the risk that one party to a financial instrument will cause a financial loss for that other party by failing to discharge an obligation. The company policies are aimed at minimising such losses e.g. deposits are only made with the financial institutions that satisfy appropriate credit worthiness. |
Foreign currency exchange risk arises due to fluctuations in foreign currency exchange rates. The company minimises exposure to such risk by minimising its foreign currency exposure and through natural hedge. |
The Company regularly reviews the results of its investments to determine whether indicators of impairment exist given the significance of the investments to the balance sheet. |
Competitive risk |
The Company's subsidiaries operate in a highly competitive market. To help mitigate exposure to this risk, management spend time refining and improving our market offering while providing a best value quality service. |
Economic risk |
A material change in the volume of property transactions across England and Wales would impact the company performance. |
ON BEHALF OF THE BOARD: |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
The directors present their report with the financial statements of the company for the year ended 30th June 2024. |
DIVIDENDS |
No dividends will be distributed for the year ended 30th June 2024. |
FUTURE DEVELOPMENTS |
The Company will continue to develop its market presence through growth in its current investments. Consequently the Company expects to continue to make losses and consume cash in the immediate future. The directors are confident that this is the right strategy to deliver long term shareholder value and that the company has sufficient resources already available to fund the strategic plans that are in place. |
DIRECTORS |
The directors set out in the table below have held office during the whole of the period from 1st July 2023 to the date of this report. |
The directors shown below were in office at 30th June 2024 but did not hold any interest in the Ordinary shares of £1 each at 1st July 2023 or 30th June 2024. |
FINANCIAL INSTRUMENTS |
The company's financial statements comprise of advance receipts in respect of the ordinary activities of the group, cash and liquid resources and various other items such as trade debtors and trade creditors that also arise directly from its operations. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
AUDITORS |
The auditors, Thomas Coombs Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ATI UK HOLDINGS LTD |
Opinion |
We have audited the financial statements of ATI UK Holdings Ltd (the 'company') for the year ended 30th June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its loss for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ATI UK HOLDINGS LTD |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Based on our understanding of the entity and industries in which it operates, we identified the principal risks of non-compliance with laws and regulations related to the holding company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, tax legislation and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). |
We assessed the susceptibility of the company's financial statements to material misstatement and how fraud might occur, including through discussions with the directors, discussions within our audit team planning meeting, updating our record of internal controls, and ensuring these controls operated as intended. We determined the principal risks were related to posting journal entries to manipulate profits, and management bias in accounting estimates. |
To address the risk of fraud through management bias and override of controls, we: |
- Performed analytical procedures to identify any unusual or unexpected relationships. |
- Identified and tested journal entries and identified any significant transactions that were unusual or outside the normal course of business. |
- Investigated the rationale behind significant or unusual transactions. |
- Challenged assumptions and judgements made by management in determining significant accounting estimates. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures which included, but were not limited to: |
- Agreeing financial statements disclosures to underlying supporting documentation. |
- Discussions with management of known or suspected instances of non-compliance with laws and regulations. |
- Reviewing relevant available correspondence. |
At the completion stage of the audit, the engagement partner's review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. |
There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
ATI UK HOLDINGS LTD |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditor |
Chartered Accountants |
3365 The Pentagon |
Century Way |
Thorpe Park |
Leeds |
West Yorkshire |
LS15 8ZB |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
STATEMENT OF COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS | ( |
) | ( |
) |
Income from shares in group undertakings |
Interest payable and similar expenses | 4 | ( |
) | ( |
) |
(LOSS)/PROFIT BEFORE TAXATION | 5 | ( |
) |
Tax on (loss)/profit | 6 |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR | ( |
) |
OTHER COMPREHENSIVE INCOME |
Item that may be reclassified subsequently to profit or loss: |
Exchange adjustments | ( |
) |
Income tax relating to item that may be reclassified subsequently to profit or loss |
- |
- |
OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
( |
) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | ( |
) |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
BALANCE SHEET |
30TH JUNE 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30TH JUNE 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1st July 2022 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30th June 2023 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30th June 2024 | ( |
) | ( |
) |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH JUNE 2024 |
1. | STATUTORY INFORMATION |
ATI UK Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparation |
The financial statements are presented in Sterling, which is the functional currency of the company. |
The ultimate parent company which produces true and fair consolidated accounts that include the results of this company is ATI Global Pty Ltd. The consolidated financial statements of ATI Global Pty Limited are prepared in accordance with International Financial Reporting Standards. |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework": |
• | the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(i) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii)and B67 of IFRS 3 Business Combinations; |
• | the requirements of IFRS 7 Financial Instruments: Disclosures; |
• | the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of: |
- | paragraphs 53(a), (h) and (j) of IFRS 16; |
• | the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1; |
• | the requirements of |
- | paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and |
- | paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7; |
• | the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes; |
• | the requirements of paragraph 74(b) of IAS 16; |
• | the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures; |
• | the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group; |
• | the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets. |
Financial instruments |
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument. |
Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised. |
Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised. |
Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax is based on taxable profit for the year. Taxable profit differs from profit as reported for accounting purposes because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. |
Current tax is calculated according to local tax rules, using tax rates that have been enacted or substantively enacted by the end of the reporting period. A provision is recognised for tax matters that are uncertain if it is considered probable that there will be a future outflow of funds to a tax authority. The provision is measured at the best estimate of the amount expected to become payable. The assessment is based on the judgment of tax professionals within the company. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
As set out in the strategic report, the directors believe that the company meets its day-to-day working capital requirements through its borrowings. The company’s forecasts and projections, taking account of reasonably possible changes in performance, show that the company should be able to operate within the level of its borrowings. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
Creditors |
Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. |
Creditors are presented as amounts falling due within one year unless payment is not due within 12 months after the reporting period. |
Interest-bearing borrowings |
Borrowings are recognised initially at fair value less attributable transaction costs. They are subsequently measured at amortised cost. Any difference between the amount initially recognised and the redemption value is recognised in profit or loss over the period of the borrowings, together with any interest and fees payable, using the effective interest method. |
Investment in subsidiaries |
Investments in subsidiaries are held at cost less accumulated impairment losses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees and directors during the period was 2.(2023: 2) |
2024 | 2023 |
£ | £ |
Directors' remuneration |
4. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Interest payable | 11,588,673 | 10,143,477 |
5. | (LOSS)/PROFIT BEFORE TAXATION |
No UK corporation tax expenses arose for the period. |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
6. | TAXATION |
Analysis of tax expense |
No liability to UK corporation tax arose for the year ended 30th June 2024 nor for the year ended 30th June 2023. |
Tax effects relating to effects of other comprehensive income |
2024 |
Gross | Tax | Net |
£ | £ | £ |
Exchange adjustments | ( |
) | - | (69,867 | ) |
2023 |
Gross | Tax | Net |
£ | £ | £ |
Exchange adjustments | - | 187,912 |
7. | INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st July 2023 | 157,966,529 |
Exchange differences | (180,536 | ) |
At 30th June 2024 | 157,785,993 |
NET BOOK VALUE |
At 30th June 2024 | 157,785,993 |
At 30th June 2023 | 157,966,529 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Groundsure Limited Sovereign House, Church Street, Brighton, England, BN1 1UJ |
Nature of business: |
% |
Class of shares: | holding |
On 20th January 2021 ATI UK Holdings Limited acquired the entire share capital of Groundsure Limited for consideration of £162,490,497. |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by group undertakings are unsecured, interest free and have no fixed date of repayment and are repayable on demand. |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Amounts due to group undertakings are secured and repayable on the termination dates of the loans. |
Interest is charged on the loans using the effective interest rate method at rates of 9.39%. |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Intercompany Loans | 187,588,939 | 176,031,386 |
Security on the intercompany loans is in the form of a fixed charge over the investment in group undertakings and a fixed and floating charge over the assets of the company. |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1st July 2023 | ( |
) |
Deficit for the year | ( |
) |
Exchange adjustments | (69,867 | ) |
At 30th June 2024 | ( |
) |
ATI UK HOLDINGS LTD (REGISTERED NUMBER: 13130846) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2024 |
14. | ULTIMATE PARENT COMPANY |
The company's immediate parent is Legal Search Holdings Pty Ltd, incorporated in Australia. |
The smallest group to consolidate the company financial statements is Legal Search Holdings Pty Ltd and the largest group to consolidate the company financial statements is ATI Global Limited. Copies of the Legal Search Holdings Pty Ltd and ATI Global Limited financial statements are publicly available and can be obtained from the Australian Securities & Investments Commission (ASIC), at asic.gov.au. "or" from the ATI Global Ltd registered office Level 8, 135 King Street, Sydney, 2000, NSW, Australia. |
15. | GUARANTEE |
On the 15th January 2021, the company created a fixed and floating charge against all the assets of the company in favour of the ultimate parent company, ATI Global Limited's debt facility providers. |
On the 15th January 2021, the company created a second fixed and floating charge against all the assets of the company in favour of the ultimate parent company, ATI Global Limited's debt facility providers. |
On the 30th June 2022, the company created a third fixed and floating charge against all the assets of the company in favour of the ultimate parent company, ATI Global Limited's debt facility providers. |