Registered number
06511880
Atlantic (Hertford) Limited
Filleted Accounts for the year ended
31 August 2024
Atlantic (Hertford) Limited
Registered number: 06511880
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,167,401 4,167,520
Current assets
Debtors 4 1,981,449 1,972,983
Cash at bank and in hand 11,453 12,033
1,992,902 1,985,016
Creditors: amounts falling due within one year 5 (3,282,762) (3,276,955)
Net current liabilities (1,289,860) (1,291,939)
Total assets less current liabilities 2,877,541 2,875,581
Creditors: amounts falling due after more than one year 6 (1,648,203) (1,664,086)
Net assets 1,229,338 1,211,495
Capital and reserves
Called up share capital 100 100
Fair value reserve 8 2,371,474 2,371,474
Profit and loss account (1,142,236) (1,160,079)
Shareholders' funds 1,229,338 1,211,495
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Alexandrou
Director
Approved by the board on 28 April 2025
Atlantic (Hertford) Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property nil
Plant & machinery 25% on reducing balance
Investment properties are valued each year at fair value in accordance with FRS102.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment property Plant and machinery etc Total
£ £ £
Cost/fair value
At 1 September 2023 4,167,401 4,767 4,172,168
Additions - (4,767) (4,767)
At 31 August 2024 4,167,401 - 4,167,401
Depreciation
At 1 September 2023 - 4,648 4,648
Charge for the year - (4,648) (4,648)
At 31 August 2024 - - -
Net book value/fair value
At 31 August 2024 4,167,401 - 4,167,401
At 31 August 2023 4,167,401 119 4,167,520
Bank loans are secured by way of a fixed and floating charge over the assets of the company including the investment properties.
4 Debtors 2024 2023
£ £
Trade debtors 23,963 19,763
Amounts owed by connected companies 1,891,199 1,888,699
Other loans receivable 61,500 61,500
Other debtors 4,787 3,021
1,981,449 1,972,983
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 64,675 64,675
Trade creditors 138,975 138,309
Amounts owed to connected companies 3,042,158 3,047,618
Other loans 34,754 24,153
Other creditors 2,200 2,200
3,282,762 3,276,955
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,648,203 1,664,086
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 1,712,878 1,728,761
Bank loans are secured by way of a fixed and floating charge over the assets of the company including the property investments.

There are also personal guarantees by the director A Alexandrou of up to £1.73m.
8 Fair value reserve 2024 2023
£ £
At 1 September 2023 2,371,474 2,371,474
At 31 August 2024 2,371,474 2,371,474
9 Related party transactions
Included in debtors "amounts owed by connected companies" are balances of:
£450,700 (2023 - £450,700) owed by Southern Territory (UK) Limited
£1,307,999 (2023 - £1,307,999) owed by STUK10 Ltd
£110,000 (2023 - £110,000) owed by STUK03 Ltd
£20,000 (2023 - £10,000) owed by STUK07 Ltd
£2,500 (2023 - £Nil) owed by GK Phoenix Ltd

Included in creditors "amounts owed to connected companies" are balances of:
£1,739,216 (2023: £1,713,176) owed to Atlantic Lodge (Housing) Limited
£411,015 (2023: £411,015) owed to Southern Territory Limited
£80,192 (2023 - £79,192) owed to Icospec Limited
£15,864 (2023 - £14,864) owed to Atlantic Developments (Cudworth) Limited
£781,871 (2023 - £787,871) owed to Friday Hill House Limited
£14,000 (2023 - £41,500) owed to Marlyn Properties Limited

These are companies in which the director A Alexandrou has interests in.
These loans are all made on an interest free basis with no set repayment date.
10 Controlling party
The ultimate controlling party is the director A Alexandrou who holds 100% of the issued share capital of the company.
11 Other information
Atlantic (Hertford) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Atlantic Business Centre
1 The Green
Chingford
London
E4 7ES
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