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REGISTERED NUMBER: 02349815 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

Atlas Bulk Carriers Limited

Atlas Bulk Carriers Limited (Registered number: 02349815)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Atlas Bulk Carriers Limited

Company Information
For The Year Ended 30 June 2024







DIRECTORS: A D Privett
E J Hylton
P G Mcgarry
M P O'Leary





REGISTERED OFFICE: Unit 32
Martlands Industrial Estate
Smartsheath Lane
Woking
Surrey
GU22 0RG





REGISTERED NUMBER: 02349815 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Atlas Bulk Carriers Limited (Registered number: 02349815)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,516,067 1,432,680

CURRENT ASSETS
Stocks 39,498 31,491
Debtors 5 684,263 630,065
Cash at bank 24,849 21,061
748,610 682,617
CREDITORS
Amounts falling due within one year 6 1,507,899 1,044,684
NET CURRENT LIABILITIES (759,289 ) (362,067 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

756,778

1,070,613

CREDITORS
Amounts falling due after more than one
year

7

(712,356

)

(670,222

)

PROVISIONS FOR LIABILITIES - (20,436 )
NET ASSETS 44,422 379,955

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 43,422 378,955
SHAREHOLDERS' FUNDS 44,422 379,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Atlas Bulk Carriers Limited (Registered number: 02349815)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





A D Privett - Director


Atlas Bulk Carriers Limited (Registered number: 02349815)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Atlas Bulk Carriers Limited 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.

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.

The financial statements have been prepared on the basis of the company continuing as a going concern for the foreseeable future, for which reliance is placed on the continued support of the directors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and is recognised as haulage and tipping services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - in accordance with the lease term
Plant and machinery - 18% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Pension costs and other post-retirement benefits
The company operates a defined contribution externally funded pension scheme for the directors and the employees. The contributions are charged to the profit and loss account as they are paid. No contributions are accrued or prepaid in the Balance sheet.

Atlas Bulk Carriers Limited (Registered number: 02349815)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2023 283,228 122,650 65,073
Additions - 110,000 -
Disposals - - -
At 30 June 2024 283,228 232,650 65,073
DEPRECIATION
At 1 July 2023 105,102 79,969 65,073
Charge for year 28,323 8,559 -
Eliminated on disposal - - -
At 30 June 2024 133,425 88,528 65,073
NET BOOK VALUE
At 30 June 2024 149,803 144,122 -
At 30 June 2023 178,126 42,681 -

Atlas Bulk Carriers Limited (Registered number: 02349815)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 2,554,713 3,183 3,028,847
Additions 365,830 - 475,830
Disposals (254,460 ) - (254,460 )
At 30 June 2024 2,666,083 3,183 3,250,217
DEPRECIATION
At 1 July 2023 1,344,971 1,052 1,596,167
Charge for year 234,446 796 272,124
Eliminated on disposal (134,141 ) - (134,141 )
At 30 June 2024 1,445,276 1,848 1,734,150
NET BOOK VALUE
At 30 June 2024 1,220,807 1,335 1,516,067
At 30 June 2023 1,209,742 2,131 1,432,680

5. DEBTORS
30.6.24 30.6.23
£    £   
Amounts falling due within one year:
Trade debtors 565,753 526,468
Prepayments 47,081 32,168
612,834 558,636

Amounts falling due after more than one year:
Other debtors 71,429 71,429

Aggregate amounts 684,263 630,065

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 526,971 403,890
Hire purchase contracts and finance leases 337,224 263,738
Trade creditors 390,625 261,489
Social security and other taxes 34,451 33,153
VAT 83,307 72,596
Other creditors 6,421 5,468
Directors' current accounts 125,000 -
Accrued expenses 3,900 4,350
1,507,899 1,044,684

Atlas Bulk Carriers Limited (Registered number: 02349815)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans more than year 139,792 76,667
Hire purchase contracts and finance leases 572,564 593,555
712,356 670,222

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts and finance leases 909,788 857,293

9. OTHER FINANCIAL COMMITMENTS

At 30 June 2024, the company had total commitments under non-cancellable operating leases over the
remaining life of those leases of £586,220 (2023: £182,268).