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REGISTERED NUMBER: 08469110















BGP ATLANTIC LIMITED

Financial Statements for the Year Ended 31 December 2023






BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BGP ATLANTIC LIMITED

Company Information
for the year ended 31 December 2023







DIRECTOR: T Sun





REGISTERED OFFICE: c/o Southern Accounting
24 Halden Field
Rolvenden
Cranbrook
Kent
TN17 4BX





REGISTERED NUMBER: 08469110





AUDITORS: Xeinadin Audit Limited
Chartered Accountants and Statutory Auditors
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 81,017 109,938

CURRENT ASSETS
Debtors 6 84,173 94,907
Cash at bank 7,451 6,577
91,624 101,484
CREDITORS
Amounts falling due within one year 7 122,301 59,437
NET CURRENT (LIABILITIES)/ASSETS (30,677 ) 42,047
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,340

151,985

PROVISIONS FOR LIABILITIES 12,488 14,895
NET ASSETS 37,852 137,090

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 36,852 136,090
SHAREHOLDERS' FUNDS 37,852 137,090

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 18 February 2025 and were signed by:





T Sun - Director


BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

BGP Atlantic Limited is a private company limited by shares, incorporated and domiciled in England and Wales, registration number 08469110. The registered office is C/o Southern Accounting, 24 Halden Field, Rolvenden, Cranbrook, Kent, TN17 4BX.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the life of the property lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - Straight line over 5 years
Computer equipment - 25% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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.

BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

3. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial Liabilities

Basic financial liabilities, including trade and other payables, loans from fellow group companies that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 3 ) .

BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 140,049
Additions 783
Disposals (7,137 )
At 31 December 2023 133,695
DEPRECIATION
At 1 January 2023 30,111
Charge for year 29,228
Eliminated on disposal (6,661 )
At 31 December 2023 52,678
NET BOOK VALUE
At 31 December 2023 81,017
At 31 December 2022 109,938

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 27,122 27,122
VAT 9,992 9,770
Prepayments 47,059 58,015
84,173 94,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 31,584 14,916
Taxation and social security 2,715 5,824
Other creditors 88,002 38,697
122,301 59,437

BGP ATLANTIC LIMITED (REGISTERED NUMBER: 08469110)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 96,587 108,112
Between one and five years 110,473 207,060
207,060 315,172

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Donald Nelson FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. PARENT COMPANY

The company is a wholly-owned subsidiary of BGP Inc., CNPC of PO Box 11, Zhuozhou Hebei, 072751 P.R.China.