Registration number: 10115748

ATC Processing Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

ATC Processing Ltd

(Registration number: 10115748)
Balance Sheet as at 31 July 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	14,632	18,290
Investment property	5	4,851,763	4,851,763
		4,866,395	4,870,053
Current assets
Debtors	6	24,732	25,630
Cash at bank and in hand		-	7,999
		24,732	33,629
Creditors: Amounts falling due within one year	7	(1,686,504)	(1,403,120)
Net current liabilities		(1,661,772)	(1,369,491)
Total assets less current liabilities		3,204,623	3,500,562
Creditors: Amounts falling due after more than one year	7	(2,100,212)	(2,321,870)
Provisions for liabilities		(295,615)	(295,615)
Net assets		808,796	883,077
Capital and reserves
Called up share capital		1,000	1,000
Other reserves		886,846	886,846
Retained earnings		(79,050)	(4,769)
Shareholders' funds		808,796	883,077

ATC Processing Ltd

(Registration number: 10115748)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

......................................... Mr Syed Najaf Hussain Shah Director

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor Woodgate Studios
2-8 Games Road
Cockfosters
Barnet
Hertfordshire
EN4 9HN

These financial statements were authorised for issue by the Board on 28 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis the validity of which is based upon the continued support of the directors.

Revenue recognition

Turnover comprises rent receivable.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Debtors with no stated interest rate and receivable 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.

Trade creditors

Creditors with no stated interest rate and payables 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.

Borrowings

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 August 2023	18,921	18,921
At 31 July 2024	18,921	18,921
Depreciation
At 1 August 2023	631	631
Charge for the year	3,658	3,658
At 31 July 2024	4,289	4,289
Carrying amount
At 31 July 2024	14,632	14,632
At 31 July 2023	18,290	18,290

5	Investment properties

	2024 £
At 1 August	4,851,763
At 31 July	4,851,763

The investment properties were valued by the directors on an open market basis and had a cost of £3,669,302 (2023 - £3,669,302).

6

Debtors

Current	2024 £	2023 £
Trade debtors	747	-
Prepayments	19,590	11,443
Other debtors	4,395	14,187
	24,732	25,630

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	9	52,368	62,994
Trade creditors		3,052	-
Taxation and social security		-	2,451
Accruals and deferred income		23,714	56,097
Other creditors		1,607,370	1,281,578
		1,686,504	1,403,120

ATC Processing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	9	2,100,212	2,321,870

Security

The above loans are secured by way of first legal charge on the investment properties held by the company, and by way of personal guarantee from the director Mr Syed Najaf Hussain Shah.

8	Related party transactions

Included in other creditors is an interest free amount of £1,586,314 (2023: £1,281,579) owed to the directors.
 

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	2,100,212	2,321,870

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	19,368	29,994
Bank overdrafts	33,000	33,000
	52,368	62,994