Company registration number 10770496 (England and Wales)
ATLANTIC CONSULTANCY LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
ATLANTIC CONSULTANCY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ATLANTIC CONSULTANCY LTD
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,479
4,952
Investments
4
22,991
17,314
26,470
22,266
Current assets
Stocks
15,213
15,213
Debtors
6
19,037
18,837
Cash at bank and in hand
13,694
1,957
47,944
36,007
Creditors: amounts falling due within one year
7
(49,033)
(49,124)
Net current liabilities
(1,089)
(13,117)
Total assets less current liabilities
25,381
9,149
Creditors: amounts falling due after more than one year
8
(8,126)
(9,780)
Net assets/(liabilities)
17,255
(631)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
17,253
(633)
Total equity
17,255
(631)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ATLANTIC CONSULTANCY LTD
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 December 2024
Mr P Williams
Director
Company registration number 10770496 (England and Wales)
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Atlantic Consultancy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is This Work Space, 18 Albert Road, Bournemouth, Dorset, BH1 1BZ.
1.1
Reporting period
The reporting period has been extended to 30 June 2023 to align with related companies. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computers
33.33% reducing balance
Bicycles
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.7
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Bicycles
Total
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
1,019
15,628
4,337
20,984
Depreciation and impairment
At 1 July 2023
297
13,702
2,033
16,032
Depreciation charged in the year
255
642
576
1,473
At 30 June 2024
552
14,344
2,609
17,505
Carrying amount
At 30 June 2024
467
1,284
1,728
3,479
At 30 June 2023
722
1,926
2,304
4,952
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
2,623
2,623
Other investments other than loans
20,368
14,691
22,991
17,314
Movements in fixed asset investments
Shares in associates
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2023
2,623
14,691
17,314
Additions
-
1,301
1,301
Valuation changes
-
5,927
5,927
Foreign exchange changes
-
(3)
(3)
Disposals
-
(1,548)
(1,548)
At 30 June 2024
2,623
20,368
22,991
Carrying amount
At 30 June 2024
2,623
20,368
22,991
At 30 June 2023
2,623
14,691
17,314
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
20,368
14,691
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
19,037
18,837
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
1,653
1,653
Other creditors
47,380
47,471
49,033
49,124
ATLANTIC CONSULTANCY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,126
9,780
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
1,515
3,169