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ATM (NORTH EAST) LIMITED

Registered Number
11539982
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

ATM (NORTH EAST) LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

MASOOD, Tariq

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

11539982 (England and Wales)
ATM (NORTH EAST) LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,2083,708
Tangible assets4161,474176,123
164,682179,831
Current assets
Stocks53,3583,629
Debtors6100,550119,336
Cash at bank and on hand18,75715,956
122,665138,921
Creditors amounts falling due within one year7(455,362)(417,028)
Net current assets (liabilities)(332,697)(278,107)
Total assets less current liabilities(168,015)(98,276)
Provisions for liabilities8(4,693)(4,693)
Net assets(172,708)(102,969)
Capital and reserves
Called up share capital100100
Profit and loss account(172,808)(103,069)
Shareholders' funds(172,708)(102,969)
The financial statements were approved and authorised for issue by the Director on 27 May 2025, and are signed on its behalf by:
MASOOD, Tariq
Director
Registered Company No. 11539982
ATM (NORTH EAST) LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue 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 transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Patent is the amount paid in connection with the acquisition of the other subway store and it is amortised for 10 years. Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings10
Vehicles25
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1420
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 September 235,0005,000
At 31 August 245,0005,000
Amortisation and impairment
At 01 September 231,2921,292
Charge for year500500
At 31 August 241,7921,792
Net book value
At 31 August 243,2083,208
At 31 August 233,7083,708
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 September 2362,00078,5472,39972,731215,677
At 31 August 2462,00078,5472,39972,731215,677
Depreciation and impairment
At 01 September 23-16,0861,64021,82839,554
Charge for year-14,649--14,649
At 31 August 24-30,7351,64021,82854,203
Net book value
At 31 August 2462,00047,81275950,903161,474
At 31 August 2362,00062,46175950,903176,123
5.Stocks

2024

2023

££
Raw materials and consumables3,3583,629
Total3,3583,629
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-1,577
Amounts owed by group undertakings81,59382,104
Other debtors12,30232,816
Prepayments and accrued income6,6552,839
Total100,550119,336
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.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables26,70141,655
Amounts owed to related parties310,565264,569
Taxation and social security15,38628,123
Other creditors102,34861,199
Accrued liabilities and deferred income36221,482
Total455,362417,028
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.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,6934,693
Total4,6934,693
9.Directors advances, credits and guarantees
Other creditors include a balance of £75,581 (2023: £55,352) related to the director's loan account Mr T Masood.
10.Related party transactions
At the year-end, Amounts owed by/to group undertakings balance include £58,498 (2023: £53,814) due to KTM (North East) Ltd and £209,833 (2023: £173,520) due to SBM (Northern) Ltd and £42,234 (2023: £37,234) due to KATS (Stockton) Ltd and £Nil (2023: £1,574) due from Task (Metro) Ltd and £73,400 (2023: £73,400) due from TM Holdings Ltd and £8,193 (2023: 7,131) due from TSN (Northern East) Ltd where Mr T Masood is also director of those companies. Other Creditors include a balance of £24,805 (2023: £4,902) related to Lounge MBR Ltd where Mr T Masood is also the company's director.