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REGISTERED NUMBER: 05355015 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ATAY GLOBAL LIMITED

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


ATAY GLOBAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: U Atay





REGISTERED OFFICE: Unit 6 Weybridge Farm
Stambourne Road
Gt Yeldham
Halstead
Essex
CO9 4RB





REGISTERED NUMBER: 05355015 (England and Wales)





AUDITORS: LB Group
The Octagon
Suite E2
Middleborough
Colchester
Essex
CO1 1TG

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The results of the company show a profit on ordinary activities after tax of £1,542,096 (2023 - £1,687,576). The shareholders' funds total £1,786,905 (2023 - £5,744,809).

Despite the ongoing economic downturn in the UK, our business remains profitable. The Company's strong market presence and expanding portfolio of competitively priced products provide the Director with confidence in achieving growth in both turnover and underlying profitability for future years.

The Company is aiming to release a new brochure in early 2025, with an expanded range of dry electrical radiators targeting the new government regulations for new build homes to have dry electrical radiators as opposed to other forms of heating which are not as climate friendly.

The Company is also planning to take on a new National Sales Manager to boost business in the accounts that we currently hold and to reach out to new customers, in particular looking to bring more distributors on board. We are also collaborating with our current online customers as we are noticing a market shift to more online platforms who with lower and more competitive prices are drawing more of the business. With online companies being a focus for us, we have started using our own transportation for delivery in certain areas along with new packaging to prevent damaged and enhance consumer's experience.

Its also for the future planning to utilise the Company's networking supply chain to offer services such as bulk container delivery direct to distributors.

Due to the rising costs of labour and materials in some manufacturing areas, there has been a need to review and expand our current supply chain which is ongoing at present.

It should also be noted that the Director has now relocated to the United Kingdom to strengthen the Company and will continue to use his expertise in the market with his knowledge and contacts to increase in the coming year our sales portfolio.

Results and dividends

The profit for the year, after taxation, has decreased from £1,687,576 to £1,542,096.

With the Shareholders' funds decreasing from £5,744,809 to £1,786,905.

PRINCIPAL RISKS AND UNCERTAINTIES
The Director is confident that there are no new risks or uncertainties facing the company, aside from those associated with the general economic climate. The company remains well-positioned to navigate any economic downturn, as it is not heavily dependent on external financing or third-party credit.

RISKS RELATING TO THE BUSINESS
The Director continues to diligently monitors market trends and adjusts the product offerings and inventory accordingly to ensure the company's prosperity and safeguard its future.

FINANCIAL RISKS
The Company has a strong accounting system that effectively minimizes exposure to risk. Additionally, the Company is in a strong financial position, with sufficient cash reserves to meet daily financial requirements. The Director closely monitors the Company's financial status and promptly addresses any potential risks, ensuring there are no specific financial concerns.


ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

LOSS OF KEY PERSONNEL
The Company acknowledges the importance of key staff members, whose absence would pose significant operational challenges. To mitigate the risk of losing these essential employees, the Company is dedicated to providing appropriate compensation to recognize their performance. Additionally, the Company takes initiative-taking measures to minimize the impact of losing key personnel by cross-training staff, ensuring that essential knowledge and processes are maintained.

ON BEHALF OF THE BOARD:





U Atay - Director


26 March 2025

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30 JUNE 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a radiator and related equipment wholesaler.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 5,500,000 .

DIRECTOR
U Atay held office during the whole of the period from 1 July 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

AUDITORS
The auditors, LB Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





U Atay - Director


26 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ATAY GLOBAL LIMITED

Opinion
We have audited the financial statements of Atay Global Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (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 30 June 2024 and of its profit 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
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ATAY GLOBAL LIMITED


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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ATAY GLOBAL LIMITED


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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
. The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
. We identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commercial knowledge and experience of the telecommunications sector;
. We focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, taxation legislation,
data protection, anti-bribery, employment, environmental and health and safety legislation;
. We assessed the extent of compliance with the laws and regulations identified above through making enquiries
of management and inspecting legal correspondence; and
. Identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
. Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud; and
. Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
. Performed analytical procedures to identify any unusual or unexpected relationships;
. Tested journal entries to identify unusual transactions;
. Reviewed the internal controls in place, specifically around payroll and bank transactions; and
. Assessed whether judgements and assumptions made in determining the accounting estimates around
depreciation were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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
ATAY GLOBAL LIMITED


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.




Oliver James White ACA (Senior Statutory Auditor)
for and on behalf of LB Group
The Octagon
Suite E2
Middleborough
Colchester
Essex
CO1 1TG

27 March 2025

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 3 9,816,869 11,186,232

Cost of sales 6,237,538 7,526,699
GROSS PROFIT 3,579,331 3,659,533

Administrative expenses 1,535,780 1,551,717
OPERATING PROFIT 5 2,043,551 2,107,816

Interest receivable and similar income 31,209 14,595
2,074,760 2,122,411

Interest payable and similar expenses 6 14,159 -
PROFIT BEFORE TAXATION 2,060,601 2,122,411

Tax on profit 7 518,505 434,835
PROFIT FOR THE FINANCIAL YEAR 1,542,096 1,687,576

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,542,096

1,687,576

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 92,024 119,400

CURRENT ASSETS
Stocks 10 3,074,103 3,248,696
Debtors 11 955,645 935,103
Cash at bank and in hand 1,674,989 2,304,303
5,704,737 6,488,102
CREDITORS
Amounts falling due within one year 12 3,685,046 832,843
NET CURRENT ASSETS 2,019,691 5,655,259
TOTAL ASSETS LESS CURRENT LIABILITIES 2,111,715 5,774,659

CREDITORS
Amounts falling due after more than one
year

13

(301,804

)

-

PROVISIONS FOR LIABILITIES 16 (23,006 ) (29,850 )
NET ASSETS 1,786,905 5,744,809

CAPITAL AND RESERVES
Called up share capital 17 1 1
Retained earnings 18 1,786,904 5,744,808
SHAREHOLDERS' FUNDS 1,786,905 5,744,809

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





U Atay - Director


ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 1 6,307,232 6,307,233

Changes in equity
Dividends - (2,250,000 ) (2,250,000 )
Total comprehensive income - 1,687,576 1,687,576
Balance at 30 June 2023 1 5,744,808 5,744,809

Changes in equity
Dividends - (5,500,000 ) (5,500,000 )
Total comprehensive income - 1,542,096 1,542,096
Balance at 30 June 2024 1 1,786,904 1,786,905

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,772,071 2,755,818
Interest paid (14,159 ) -
Tax paid (280,446 ) (594,033 )
Net cash from operating activities 4,477,466 2,161,785

Cash flows from investing activities
Purchase of tangible fixed assets (3,304 ) (30,114 )
Interest received 31,209 14,595
Net cash from investing activities 27,905 (15,519 )

Cash flows from financing activities
New loans in year 385,000 -
Loan repayments in year (19,685 ) -
Equity dividends paid (5,500,000 ) (2,250,000 )
Net cash from financing activities (5,134,685 ) (2,250,000 )

Decrease in cash and cash equivalents (629,314 ) (103,734 )
Cash and cash equivalents at beginning of
year

2

2,304,303

2,408,037

Cash and cash equivalents at end of year 2 1,674,989 2,304,303

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 2,060,601 2,122,411
Depreciation charges 30,680 39,860
Finance costs 14,159 -
Finance income (31,209 ) (14,595 )
2,074,231 2,147,676
Decrease in stocks 174,593 132,660
(Increase)/decrease in trade and other debtors (20,542 ) 91,755
Increase in trade and other creditors 2,543,789 383,727
Cash generated from operations 4,772,071 2,755,818

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 1,674,989 2,304,303
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 2,304,303 2,408,037


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank and in hand 2,304,303 (629,314 ) 1,674,989
2,304,303 (629,314 ) 1,674,989
Debt
Debts falling due within 1 year - (63,511 ) (63,511 )
Debts falling due after 1 year - (301,804 ) (301,804 )
- (365,315 ) (365,315 )
Total 2,304,303 (994,629 ) 1,309,674

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Atay Global 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.

The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using a weighted average price. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme under the auto enrolment regime. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 567,819 571,959
Social security costs 47,333 47,496
Other pension costs 11,445 11,203
626,597 630,658

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Director 1 1
Administrative 20 21
21 22

2024 2023
£    £   
Director's remuneration 6,000 6,000

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 98,825 99,363
Depreciation - owned assets 30,680 39,860
Auditors' remuneration 12,500 12,750

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan 14,159 -

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 525,349 437,272

Deferred tax (6,844 ) (2,437 )
Tax on profit 518,505 434,835

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,060,601 2,122,411
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

515,150

530,603

Effects of:
Expenses not deductible for tax purposes 3,355 529
Depreciation in excess of capital allowances 6,844 2,233
Deferred tax movement (6,844 ) (2,437 )
Effect of tax rate changes during the year - (96,093 )
Total tax charge 518,505 434,835

8. DIVIDENDS
2024 2023
£    £   
Interim 5,500,000 2,250,000

9. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 75,884 87,849 22,000 187,805 373,538
Additions - - - 3,304 3,304
At 30 June 2024 75,884 87,849 22,000 191,109 376,842
DEPRECIATION
At 1 July 2023 57,444 67,010 18,493 111,191 254,138
Charge for year 4,610 5,212 877 19,981 30,680
At 30 June 2024 62,054 72,222 19,370 131,172 284,818
NET BOOK VALUE
At 30 June 2024 13,830 15,627 2,630 59,937 92,024
At 30 June 2023 18,440 20,839 3,507 76,614 119,400

10. STOCKS
2024 2023
£    £   
Stocks 3,074,103 3,248,696

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 925,563 874,212
Other debtors - 473
VAT - 32,055
Prepayments and accrued income 30,082 28,363
955,645 935,103

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 14) 63,511 -
Trade creditors 386,951 193,577
Tax 260,349 15,446
VAT 12,940 -
Other creditors 5,503 5,132
Directors' current accounts 2,909,624 549,419
Accrued expenses 46,168 69,269
3,685,046 832,843

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans (see note 14) 301,804 -

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 63,511 -

Amounts falling due between one and two years:
Other loans - 1-2 years 70,790 -

Amounts falling due between two and five years:
Other loans - 2-5 years 231,014 -

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 64,530 62,146
Between one and five years 24,539 1,842
89,069 63,988

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 23,006 29,850

Deferred
tax
£   
Balance at 1 July 2023 29,850
Credit to Statement of Comprehensive Income during year (6,844 )
Accelerated capital allowances
Balance at 30 June 2024 23,006

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

The ordinary class of shares have full voting rights and rights to capital distribution, including on winding up. This class of share also has rights to dividends as voted by the Directors of the company.

18. RESERVES
Retained
earnings
£   

At 1 July 2023 5,744,808
Profit for the year 1,542,096
Dividends (5,500,000 )
At 30 June 2024 1,786,904

19. ULTIMATE PARENT COMPANY

Atay Holding Limited is regarded by the director as being the company's ultimate parent company.

20. RELATED PARTY DISCLOSURES

ATAY GLOBAL LIMITED (REGISTERED NUMBER: 05355015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

20. RELATED PARTY DISCLOSURES - continued

Other related parties
2024 2023
£    £   
Purchases 2,635,762 3,855,570
Amount due to related party 80,214 -

The above disclosures relate to entities under common control by the director, Ulas Atay.