Company registration number 08775959 (England and Wales)
ATFNW LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
ATFNW LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ATFNW LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
717,649
552,635
Cash at bank and in hand
1,171
5,545
718,820
558,180
Creditors: amounts falling due within one year
4
(640,995)
(440,027)
Net current assets
77,825
118,153
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
77,824
118,152
Total equity
77,825
118,153
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
Mr M J Holden
Director
Company registration number 08775959 (England and Wales)
ATFNW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
ATFNW Limited is a private company limited by shares incorporated in England and Wales. The registered office is Riverside House, Riverside Industrial Estate, Branch Road, Lower Darwen, Lancashire, BB3 0PR.
1.1
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. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption in FRS 102 not to disclose transactions with qualifying entities.
ATFNW Limited is a wholly-owned subsidiary of RR Trading (Lower Darwen) Limited and the results of ATFNW Limited are included in the consolidated financial statements of RR Trading (Lower Darwen) Limited which are available from the registered office at Riverside House, Riverside Industrial Estate, Branch Road, Lower Darwen, Lancashire, BB3 0PR.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ATFNW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
ATFNW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
338,552
181,151
Other debtors
379,097
371,484
717,649
552,635
Included within Other debtors are amounts owed by connected companies of £140,000 (2023: £105,000). The amounts owed are unsecured and interest free.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
435,946
318,855
Corporation tax
19,891
Other taxation and social security
93,607
93,372
Other creditors
91,551
27,800
640,995
440,027
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary share of £1 each
1
1
1
1
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified.
Senior Statutory Auditor:
Linda Wilkinson
Statutory Auditor:
Pierce C A Limited
Date of audit report:
24 April 2025
ATFNW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Sales
Management charges paid
2024
2023
2024
2023
£
£
£
£
Fellow subsidiary undertaking (not 100%)
7,310,929
7,276,626
150,000
150,000
Connected company
35,000
35,000
-
-
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Fellow subsidiary undertaking (not 100%)
338,551
181,151
Connected company
140,000
105,000
478,551
286,151
8
Ultimate controlling party
The company is a wholly owned subsidiary of RR Trading (Lower Darwen) Limited, a company registered in England and Wales.
RR Trading (Lower Darwen) Limited is under the control of the directors, Mr M J Anderson and Mr M J Holden.