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Company Registration No. 13033683 (England and Wales)
Atlantic Workboats Limited Unaudited accounts for the year ended 31 December 2024
Atlantic Workboats Limited Unaudited accounts Contents
Page
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Atlantic Workboats Limited Company Information for the year ended 31 December 2024
Directors
Christopher Northmore Phillip Evans
Company Number
13033683 (England and Wales)
Registered Office
Alcea Shepherds Court Ebford EX3 0FD United Kingdom
Accountants
PBS Accounting Limited 11 Longmeadow Close Plympton Plymouth Devon PL7 4JG
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Atlantic Workboats Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
147,910 
159,944 
Current assets
Inventories
42,000 
42,000 
Debtors
1,595 
1,671 
Cash at bank and in hand
2,526 
29,603 
46,121 
73,274 
Creditors: amounts falling due within one year
(99,587)
(133,609)
Net current liabilities
(53,466)
(60,335)
Total assets less current liabilities
94,444 
99,609 
Provisions for liabilities
Deferred tax
(4,237)
(5,009)
Net assets
90,207 
94,600 
Capital and reserves
Called up share capital
9,000 
10,059 
Share premium
34,241 
34,241 
Capital redemption reserve
1,059 
- 
Profit and loss account
45,907 
50,300 
Shareholders' funds
90,207 
94,600 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by
Christopher Northmore Director Company Registration No. 13033683
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Atlantic Workboats Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Atlantic Workboats Limited is a private company, limited by shares, registered in England and Wales, registration number 13033683. The registered office is Alcea, Shepherds Court, Ebford, EX3 0FD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
7% reducing balance
Fixtures & fittings
5 years straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchases, cost pf conversion and other costs incurred in bringing the stocks to their present location and condition.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Atlantic Workboats Limited Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2024
163,399 
4,230 
167,629 
At 31 December 2024
163,399 
4,230 
167,629 
Depreciation
At 1 January 2024
5,711 
1,974 
7,685 
Charge for the year
11,188 
846 
12,034 
At 31 December 2024
16,899 
2,820 
19,719 
Net book value
At 31 December 2024
146,500 
1,410 
147,910 
At 31 December 2023
157,688 
2,256 
159,944 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,595 
1,671 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
(187)
(89)
Trade creditors
1,863 
2,205 
Other creditors
34 
34 
Loans from directors
96,977 
130,144 
Accruals
900 
1,315 
99,587 
133,609 
7
Transactions with related parties
At the year end the company was owed £nil (2023: £nil) by companies in which the directors have control. During the year the company sold £25,000 (2023: £12,000) to companies in which the directors have control. During the year the company purchased £813 (2023: £5,739) from companies in which the directors have control.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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