Company Registration No. 05369874 (England and Wales)
ATELIER TEN (SCOTLAND) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
ATELIER TEN (SCOTLAND) LIMITED
CONTENTS
Page
Company information
1
Strategic report
2 - 4
Directors' report
5 - 7
Independent auditor's report
8 - 12
Income statement
13
Statement of financial position
14 - 15
Statement of changes in equity
16
Notes to the financial statements
17 - 34
ATELIER TEN (SCOTLAND) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. W. Ritchie
Mr. W. McCumiskey
Mr. D. Campbell
Mr. N. Kienzl
Mr. D. Seel
Secretary
Ms. T. Josserand
Company number
05369874
Registered office
19 Perseverance Works
38 Kingsland Road
London
E2 8DD
Auditor
Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
ATELIER TEN (SCOTLAND) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present the strategic report for the year ended 31 December 2024.

Fair review of the business

Atelier Ten (Scotland) Limited has a developed strategic plan which is reviewed every year. The delivery of the plan enables the company to:

 

 

The principal activity of the company is engineering, environmental and lighting design within the building industry. The year under review has been one of consolidation and at the date of this report our current confirmed projects indicate that we should be able to fulfil our objectives as we work towards growth in the current year. The group to which Atelier Ten (Scotland) Limited belongs, achieved growth in 2023 for revenue and remains on a sound footing to consolidate that position and drive growth for 2024. Profitability has come down from a record high in 2022 and we are working on efficiencies to move back to target and drive profitability under the new operating model.

 

In November 2023, we celebrated the third anniversary of Atelier Ten being part of the Surbana Jurong Group (SJ). The integration process, in respect of the groups main business activities has been relatively straight forward and is very much business as usual. The new relationship has encouraged introductions to new markets and provided access to the other member companies of the SJ Group as well as providing a conduit for establishing relationships with new colleagues and sharing business practice.

 

While the main business activities have been relatively unchanged by SJ, we are integrating a new operating model (SJ26) and 2024 will see a number of changes on how we report and track our profitability within a new matrix style structure. Under the new model we will monitor and track sector and service line results to harmonise reporting across the SJ Group. The new model will encourage further collaboration across the group and drive us towards becoming a truly global business.

 

 

ATELIER TEN (SCOTLAND) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Principal risks and uncertainties

Competitive Risk

The company operates in a field where it is important to stay ahead of the game in understanding environmental design issues and the advancement of engineering design processes. The company invests in training and provides opportunities for research together with ensuring that it embraces new technology to ensure continued improvement of processes.

 

Technical Risk

Atelier Ten is ISO15-9001 and 14001 accredited and these reflect our quality management principles. We have also developed a project management system which identifies project processes and is related to our quality control systems which is constantly under review.

 

The company ensures that it has appropriate professional indemnity insurance on an ongoing basis.

 

Charitable Activities:

Atelier Ten Foundation

We are committed to using our skills and influence to improve the built environment and to maintain the integrity and quality of the natural and cultural environments in which we operate. To this end the Atelier Ten Foundation was established in 2008 to reinvest a portion of our profit to support employee initiatives that allow them to apply their skills in the wider world, particularly in response to humanitarian need. The details of the individual endeavours can be found on our web site under “Profile” - “Philanthropy”.

Other charitable support

Atelier Ten continued to supports a charity for visually impaired children, VICTA, by providing the time of a director to act as a Trustee. It also supports individual staff members by making donations to their individual endeavours to raise funds in a variety of way for several charities.

Key performance indicators

During the year, the turnover fell from £8,232,261 in 2023 to £5,749,829 in 2024. The overall profit before tax decreased by £1,300k from £1,592,776 to £292,702. The balance sheet continues to disclose net current assets.

Future developments

The seismic shift towards a green agenda including carbon zero discussions continues to revolutionise the built environment sector with ever more clients pushing for greener buildings and seeking out the experience and knowledge that we have gained and developed together with the track record of delivery that we have achieved in this space. This new era promises to be even more interesting as the drive towards ever healthier, lower resource-intensive buildings and smart buildings intensifies and continues.

 

As we review our business and look at both the challenges and opportunities ahead, we have considered and carried out an impact assessment on the disruption that has been caused by COVID-19 and residual economic and work practice impacts as we move forward. The current challenges that face the wider economy are great; however, from our perspective we have managed with minimal disruption and our clients have adjusted to the new reality of hybrid working practices and continue to transform our operations processes for project delivery. Our office has well established remote working provisions, and our IT infrastructure continues to show resilience as we all work in new ways.

 

Our orderbook and pipeline remain as strong and diverse as. Our project pipeline is geographically diverse, so our exposure in individual markets is limited. Since 2008, as a group we have focussed on building an international portfolio to protect ourselves against localised market dips and has proved to be a successful strategy.

 

ATELIER TEN (SCOTLAND) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -

On behalf of the board

Mr. W. McCumiskey
Director
1 August 2025
ATELIER TEN (SCOTLAND) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of consulting in building services, engineering and design.

Results and dividends

The results for the year are set out on page 13.

Ordinary dividends were paid amounting to £2,500,000. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr. P. Kerr
(Resigned 28 February 2025)
Mr. W. Ritchie
Mr. W. McCumiskey
Mr. D. Cameron
(Resigned 17 March 2025)
Mr. D. Campbell
(Appointed 27 March 2025)
Mr. N. Kienzl
(Appointed 27 March 2025)
Mr. D. Seel
(Appointed 27 March 2025)
Political donations

The company made no political donations or incurred any political expenditure in the year.

Financial instruments
Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

 

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade Receivables are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Research and development

Whilst the company does not undertake specific research and development activities, some of the company's expenditure qualifies as research and development for taxation purposes and therefore attracts government grants.

 

ATELIER TEN (SCOTLAND) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
Future developments

The directors are optimistic that the business can retain its market share and are forecasting modest growth during 2024 based on confirmed projects and known opportunities. This is discussed further in the strategic report. The directors are confident that the business will deliver favourable results to all stakeholders.

Auditor

The auditor, Verallo, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with FRS 101 Reduced Disclosure Framework. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Strategic report

The Company has chosen, in accordance with section 414c(11) of the Companies Act 2006, and as noted in this Directors' report, to include certain additional matters in its strategic report, that would otherwise be required to be disclosed in this Directors' report:

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

ATELIER TEN (SCOTLAND) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
On behalf of the board
Mr. W. McCumiskey
Director
1 August 2025
ATELIER TEN (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ATELIER TEN (SCOTLAND) LIMITED
- 8 -
Opinion

We have audited the financial statements of Atelier Ten (Scotland) Limited (the 'company') for the year ended 31 December 2024 which comprise the income statement, the statement of financial position, statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 ‘Reduced Disclosure Framework’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of

the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

ATELIER TEN (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ATELIER TEN (SCOTLAND) LIMITED
- 9 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:Ÿ

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

ATELIER TEN (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ATELIER TEN (SCOTLAND) LIMITED
- 10 -
Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

 

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

 

 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to fraud, are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

ATELIER TEN (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ATELIER TEN (SCOTLAND) LIMITED
- 11 -

Our approach was as follows:

 

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

 

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

ATELIER TEN (SCOTLAND) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF ATELIER TEN (SCOTLAND) LIMITED
- 12 -

Use of our report

This report is made solely to the company’s member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s member those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s member for our audit work, for this report, or for the opinions we have formed.

Michelle Hewitt-Dutton FCCA (Senior Statutory Auditor)
For and on behalf of Verallo
Statutory Auditor
Office:
Henley-on-Thames
Date:
1 August 2025
ATELIER TEN (SCOTLAND) LIMITED
INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2024
2023
Notes
£
£
Revenue
4
5,749,829
8,232,261
Cost of sales
(3,009,858)
(4,113,918)
Gross profit
2,739,971
4,118,343
Administrative expenses
(2,776,475)
(2,911,729)
Other operating income
321,299
374,660
Operating profit
5
284,795
1,581,274
Investment income
8
19,744
28,176
Finance costs
9
(11,837)
(16,674)
Profit before taxation
292,702
1,592,776
Tax on profit
10
(95,494)
(348,227)
Profit and total comprehensive income for the financial year
21
197,208
1,244,549

The Profit And Loss Account has been prepared on the basis that all operations are continuing operations.

The notes on pages 17 to 34 form part of these financial statements
ATELIER TEN (SCOTLAND) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
31 December 2024
- 14 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
12
79,635
112,475
Right-of-use asset
346,934
273,463
426,569
385,938
Current assets
Trade and other receivables
13
1,628,240
1,602,352
Cash and cash equivalents
893,115
3,851,463
2,521,355
5,453,815
Current liabilities
Trade and other payables
16
140,340
390,891
Taxation and social security
446,414
829,085
Lease liabilities
17
119,813
103,970
706,567
1,323,946
Net current assets
1,814,788
4,129,869
Total assets less current liabilities
2,241,357
4,515,807
Non-current liabilities
(236,675)
(195,930)
Provisions for liabilities
Deferred tax liabilities
18
(10,982)
(23,385)
Net assets
1,993,700
4,296,492
Equity
Called up share capital
20
100
100
Retained earnings
21
1,993,600
4,296,392
Total equity
1,993,700
4,296,492
ATELIER TEN (SCOTLAND) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 15 -
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Mr. W. McCumiskey
Director
Company Registration No. 05369874
ATELIER TEN (SCOTLAND) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 16 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 January 2023
100
3,051,843
3,051,943
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
1,244,549
1,244,549
Balance at 31 December 2023
100
4,296,392
4,296,492
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
197,208
197,208
Dividends
11
-
(2,500,000)
(2,500,000)
Balance at 31 December 2024
100
1,993,600
1,993,700
The notes on pages 17 to 34 form part of these financial statements
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 17 -
1
Accounting policies
Company information

Atelier Ten (Scotland) Limited (05369874) is a private company limited by shares incorporated in England and Wales. The registered office is 19 Perseverance Works, 38 Kingsland Road, London, E2 8DD. The company's principal activities and nature of its operations are disclosed in the directors' report.

1.1
Accounting convention

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

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.

As permitted by FRS 101, the company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

Where required, equivalent disclosures are given in the group accounts of Atelier Ten Limited. The group accounts of Atelier Ten Limited are available to the public and can be obtained as set out in note 23.

1.2
Going concern

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence, and will be able to meet its liabilities as they fall due, for a period of at least twelve months from the date of approval of the financial statements.true

 

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 18 -
1.3
Revenue

Revenue represents the amounts receivable for services provided in the normal course of business, net of VAT.

 

In accordance with IFRS15 'Revenue from contracts with customers' issued by the Accounting Standards Board, revenue is recognised relative to performance obligations identified in the contract. These performance obligations are typically linked to milestones through the delivery of technical drawings and reports.

    

At the year end, professional judgement is applied by the directors, in reviewing the stage of completion of each performance obligation, as detailed within the contracts. The overall transaction price is allocated between these specific obligations as per the contract and amounts receivable in respect of service contracts in progress are accrued accordingly based on the stage of completion of each performance obligation.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
straight line over the lease term
Fixtures and fittings
25% straight line
Computers
25% straight line
Right-of-use assets
straight line over the lease term

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the income statement.

Land is not subject to depreciation.

1.5
Impairment of tangible and intangible assets

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 19 -
1.7
Financial assets

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets are classified into specified categories, depending on the nature and purpose of the financial assets.

 

At initial recognition, financial assets classified as fair value through profit and loss are measured at fair value and any transaction costs are recognised in profit or loss. Financial assets not classified as fair value through profit and loss are initially measured at fair value plus transaction costs.

Financial assets held at amortised cost

Financial instruments are classified as financial assets measured at amortised cost where the objective is to hold these assets in order to collect contractual cash flows, and the contractual cash flows are solely payments of principal and interest. They arise principally from the provision of goods and services to customers (eg trade receivables). They are initially recognised at fair value plus transaction costs directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment where necessary.

Impairment of financial assets

Financial assets, other than those measured at fair value through profit or loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

1.8
Financial liabilities

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as 'other financial liabilities'.

Other financial liabilities

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 20 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

Deferred tax

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of inventories or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 21 -
1.13
Leases

At inception, the company assesses whether a contract is, or contains, a lease within the scope of IFRS 16. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Where a tangible asset is acquired through a lease, the company recognises a right-of-use asset and a lease liability at the lease commencement date. Right-of-use assets are included within property, plant and equipment, apart from those that meet the definition of investment property.

The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date plus any initial direct costs and an estimate of the cost of obligations to dismantle, remove, refurbish or restore the underlying asset and the site on which it is located, less any lease incentives received.

 

The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term. The estimated useful lives of right-of-use assets are determined on the same basis as those of other property, plant and equipment. The right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are unpaid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the company's incremental borrowing rate. Lease payments included in the measurement of the lease liability comprise fixed payments, variable lease payments that depend on an index or a rate, amounts expected to be payable under a residual value guarantee, and the cost of any options that the company is reasonably certain to exercise, such as the exercise price under a purchase option, lease payments in an optional renewal period, or penalties for early termination of a lease.

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in: future lease payments arising from a change in an index or rate; the company's estimate of the amount expected to be payable under a residual value guarantee; or the company's assessment of whether it will exercise a purchase, extension or termination option. When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.

The company has elected not to recognise right-of-use assets and lease liabilities for short-term leases of machinery that have a lease term of 12 months or less, or for leases of low-value assets including IT equipment. The payments associated with these leases are recognised in profit or loss on a straight-line basis over the lease term.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
2
Adoption of new and revised standards and changes in accounting policies
Standards which are in issue but not yet effective

The Company have adopted the new and updated IFRS implemented for the current fiscal year, where the effective date of the standard was for periods commencing on or after, 1 January 2024. The application of such IFRSs, have been considered, but have not had any significant effect on the Company’s accounting policies or financial statements.

• Lack of exchangeability (Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rate)
1 January 2025
• Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7)
1 January 2026
• IFRS 18 – Presentation and Disclosure in Financial Statements
1 January 2027
• IFRS 19 – Subsidiaries without Public Accountability
1 January 2027
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
3
Critical accounting estimates and judgements

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

 

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Critical judgements
Right-of-use assets

In determining the lease term the company assesses whether it is reasonably certain to exercise, or not to exercise, options to extend or terminate a lease. This assessment is made at the start of the lease and is reassessed if significant events of changes in circumstances occur that are within the lessee's control.

 

Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments are discounted using the interest rate implicit in the lease, if that rate be determined, or the company's incremental borrowing rate if not. The company used a rate of 5% for its office leases.

 

A 1% increase or decrease in the discount rate would result in a difference of £2,022 on the lease liability.

Contract assets and liabilities

The company often enters in to long term service contracts with its customers. The company recognises revenue, and therefore profit, on service contracts in progress at the year-end where reasonable confidence can be taken in the profitable completion. At the year-end, professional judgement is applied, by the directors, in reviewing the stage of completion of each project, in conjunction with the milestones met and billed, fee forecast and billing schedule, to determine the revenue that should be recognised in the current year. The review of the completion and billing continues to be reviewed on a monthly basis, with any variances being released to the profit and loss as they arise.

Expected credit loss

The directors review the expected credit loss provision on an annual basis and apply professional judgement, combined with customer knowledge and prior period trends to quantify an expected credit loss provision. The provision continues to be reviewed on a monthly basis, with any variances being released to the profit and loss as they arise.

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Critical accounting estimates and judgements
(Continued)
- 24 -
RDEC

Within other income, a provision of £156k has been recognised regarding the Atelier Ten (Scotland) Limited 2024 R&D claim, that is subject to finalisation. Management have taken the 2023 qualifying expenditure, and calculated this as a percentage of total revenue for the year. This percentage has then been applied to the 2024 revenue, to give the anticipated qualifying expenditure. The 20% credit has then been recognised in other income.

 

A 1% increase or decrease in the qualifying expenditure would result in a £1,560 change in the credit to be recognised.

The Group is subject to the global minimum top-up tax under Pillar Two Tax Legislation. Under the Pillar Two model rules, the Pillar Two Effective Tax Rate (“ETR”) is assessed on a jurisdictional basis and top-up tax is payable if the jurisdictional ETR is below 15%. Transitional Country-by-Country Safe Harbour rules (“TCSH”) have also been developed to provide temporary relief from compliance obligations during the initial implementation period. Under the TCSH, the top-up tax for such jurisdiction is deemed to be zero if certain tests can be met for the selected jurisdiction.

 

Certain jurisdictions where the Group operates have implemented the Pillar Two legislation with effect from 1 January 2024. As of 31 December 2024, the Group has assessed on a high-level basis that these jurisdictions have either met the tests under TCSH rules or did not require material top up tax in the United Kingdom. Accordingly, no material tax provision has been recognised for the financial year ended 31 December 2024.

 

The Group continues to monitor and evaluate the domestic implementation of the Pillar Two rules in the jurisdictions in which it operates. The implementation of legislation that is enacted or substantively enacted but not yet in effect is not expected to have a material impact on the Group’s global effective tax rate for FY 2024. The Group has applied a temporary mandatory relief from deferred tax accounting for the impacts of the top up tax and accounts for it as a current tax when it is incurred.

4
Revenue
2024
2023
£
£
Revenue analysed by class of business
Sales of Services
5,749,829
8,232,261
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
5
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging/(crediting):
Fees payable to the company's auditor for the audit of the company's financial statements
9,500
11,250
Depreciation of property, plant and equipment
149,120
150,797
Profit on disposal of property, plant and equipment
-
(23)

Depreciation charges on the company's right-of-use assets of £103,969 (2023: £100,538) are included within the total of depreciation disclosed above and is recognised within administrative expenses.

6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Technical
55
62
Administration
8
7
Directors
4
4
Total
67
73

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
3,672,539
4,465,208
Social security costs
438,730
455,339
Pension costs
154,029
156,728
4,265,298
5,077,275
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 26 -
7
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
556,655
850,943
Company pension contributions to defined contribution schemes
11,437
10,868
568,092
861,811

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

Remuneration disclosed above include the following amounts paid to the highest paid director:
Remuneration for qualifying services
186,986
334,287
Company pension contributions to defined contribution schemes
5,719
5,434
8
Investment income
2024
2023
£
£
Interest income
Interest on bank deposits
13,208
17,018
Other interest income
6,536
11,158
Total income
19,744
28,176
9
Finance costs
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on other loans
135
719
Interest on other financial liabilities:
Interest on lease liabilities
11,702
15,955
Total interest expense
11,837
16,674
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
10
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
69,317
305,542
Adjustments in respect of prior periods
38,580
42,685
Total UK current tax
107,897
348,227
Deferred tax
Origination and reversal of temporary differences
(5,586)
-
0
Adjustment in respect of prior periods
(6,817)
-
0
(12,403)
-
0
Total tax charge
95,494
348,227

The charge for the year can be reconciled to the profit per the income statement as follows:

2024
2023
£
£
Profit before taxation
292,702
1,592,776
Expected tax charge based on a corporation tax rate of 25.00% (2023: 23.50%)
73,176
374,302
Effect of expenses not deductible in determining taxable profit
3,512
10,209
Change in unrecognised deferred tax assets
-
0
(40,957)
Effect of change in UK corporation tax rate
-
0
4,673
Research and development tax credit
(35,325)
-
0
Under/(over) provided in prior years
38,580
-
Deferred tax adjustments in respect of prior years
(6,817)
-
Provision adjustment
22,368
-
Taxation charge for the year
95,494
348,227
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
11
Dividends
2024
2023
2024
2023
Amounts recognised as distributions:
per share
per share
Total
Total
£
£
£
£
Ordinary shares
Final dividend paid
250.00
-
2,500,000
-
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 29 -
12
Property, plant and equipment
Leasehold land and buildings
Fixtures and fittings
Computers
Right-of-use assets
Total
£
£
£
£
£
Cost
At 31 December 2023
81,769
48,419
167,104
644,039
941,331
Additions
-
0
635
11,676
177,440
189,751
At 31 December 2024
81,769
49,054
178,780
821,479
1,131,082
Accumulated depreciation and impairment
At 31 December 2023
26,393
36,247
122,177
370,576
555,393
Charge for the year
19,257
2,882
23,012
103,969
149,120
At 31 December 2024
45,650
39,129
145,189
474,545
704,513
Carrying amount
At 31 December 2024
36,119
9,925
33,591
346,934
426,569
At 31 December 2023
55,376
12,172
44,927
273,463
385,938

Property, plant and equipment includes right-of-use assets, as follows:

Right-of-use assets
2024
2023
£
£
Net values
Office buildings
322,451
273,463
IT equipment
24,483
-
346,934
273,463
Additions
177,440
-
Depreciation charge for the year
Office buildings
99,719
100,538
IT equipment
4,250
-
103,969
100,538

The gross carrying amount of fully depreciated property, plant and equipment that is still in use is £137,009 (2023: £104,496).

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 30 -
13
Trade and other receivables
2024
2023
£
£
Trade receivables
1,152,727
1,278,420
Expected credit loss
(119,770)
(41,050)
1,032,957
1,237,370
Contract assets (note 15)
264,017
204,053
Corporation tax recoverable
163,183
-
Amount owed by parent undertaking
63,385
-
0
Other receivables
12,083
11,237
Prepayments and accrued income
92,615
149,692
1,628,240
1,602,352

Amounts due from parent undertakings are unsecured, interest-free, have no fixed date of repayments and are repayable on demand.

14
Trade receivables - credit risk
Fair value of trade receivables
Carrying value
Fair value
2024
2023
2024
2023
£
£
£
£
Trade receivables net of allowances
1,032,957
1,237,370
-
0
-
Contract assets
264,017
204,053
-
-
Other debtors
12,083
11,237
-
-
Prepayments
92,615
149,692
-
0
-
1,401,672
1,602,352
-
-

No significant receivable balances are impaired at the reporting end date.

Movement in the allowances for doubtful debts
2024
2023
£
£
Balance at 1 January 2024 and at 31 December 2024
119,770
41,050
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 31 -
15
Contracts with customers
Analysis of contract assets
2024
2023
£
£
Contract assets
264,017
204,053

The contract assets primarily relate to the company's rights to consideration for work completed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional. Contract liabilities primarily relate to the advance consideration received from customers.

16
Trade and other payables
2024
2023
£
£
Trade payables
14,420
10,972
Amount owed to parent undertaking
21,179
10,777
Accruals and deferred income
87,789
369,142
Other payables
16,952
-
140,340
390,891

Amounts due from parent undertakings are unsecured, interest-free, have no fixed date of repayments and are repayable on demand.

17
Lease liabilities
2024
2023
Maturity analysis
£
£
Within one year
119,813
103,970
In two to five years
236,675
195,930
Total undiscounted liabilities
356,488
299,900
ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17
Lease liabilities
(Continued)
- 32 -

Lease liabilities are classified based on the amounts that are expected to be settled within the next 12 months and after more than 12 months from the reporting date, as follows:

2024
2023
£
£
Current liabilities
119,813
103,970
Non-current liabilities
236,675
195,930
356,488
299,900
2024
2023
Amounts recognised in profit or loss include the following:
£
£
Interest on lease liabilities
11,702
15,955

The company leases land and buildings for its offices under agreements of between five and ten years with, in some cases, on renewal, the terms of leases are renegotiated. The company also leases office equipment for a period of three years.

 

The company leases office equipment under agreements of five years. These leases are of low value, so have been expensed as incurred and not capitalised as right-of-use assets.

 

Total cash outflow for leases for the year was £122,499 (2023: £119,925).

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 33 -
18
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon during the current and prior reporting period.

ACAs
£
Deferred tax liability at 1 January 2023
23,385
Deferred tax liability at 1 January 2024
23,385
Deferred tax movements in current year
Charge/(credit) to profit or loss
(12,403)
Deferred tax liability at 31 December 2024
10,982
19
Retirement benefit schemes
Defined contribution schemes

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

The total costs charged to income in respect of defined contribution plans is £154,029 (2023 - £156,728).

20
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100

The company has one class of ordinary shares which carry full rights with respect to voting, dividends and distributions.

21
Reserves

The following describes the nature and purpose of each reserve within equity:

 

Reserve            Description and purpose

Share capital        Nominal value of share capital subscribed for.

Retained earnings        All net gains and losses and transactions with owners (e.g. dividends).

ATELIER TEN (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 34 -
22
Related party transactions
Remuneration of key management personnel

Atelier Ten (Scotland) Limited has taken advantage of the exemption under FRS 101 paragraph 8(j) not to disclose this information.

Other transactions with related parties

The company has taken advantage of the exemption under FRS 101 paragraph 8(k) not to disclose information about transactions entered into between two or more members of the group where any subsidiary which is a party to the transactions is wholly owned by such a member.

23
Controlling party

The company is under the immediate control of its parent, Atelier Ten Limited, a company incorporated in England and Wales. Group consolidated accounts are available from the company's registered office at 19 Perseverance Works, 38 Kingsland Road, London, E2 8DD.

 

The ultimate controlling party is Surbana Jurong Pte. Ltd, a company incorporated in Singapore.

2024-12-312024-01-01Mr. P. KerrMr. W. RitchieMr. W. McCumiskeyMr. D. CameronMr. D. CampbellMr. N. KienzlMr. D. SeelMs. T. JosserandfalsefalseCCH SoftwareiXBRL Review & Tag 2024.2053698742024-01-012024-12-3105369874bus:Director22024-01-012024-12-3105369874bus:Director32024-01-012024-12-3105369874bus:Director52024-01-012024-12-3105369874bus:Director62024-01-012024-12-3105369874bus:Director72024-01-012024-12-3105369874bus:CompanySecretary12024-01-012024-12-3105369874bus:Director12024-01-012024-12-3105369874bus:Director42024-01-012024-12-3105369874bus:RegisteredOffice2024-01-012024-12-31053698742024-12-31053698742023-01-012023-12-3105369874core:ContinuingOperations2024-01-012024-12-3105369874core:RetainedEarningsAccumulatedLosses2024-01-012024-12-3105369874core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31053698742023-12-3105369874core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3105369874core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105369874core:CurrentFinancialInstruments2024-12-3105369874core:CurrentFinancialInstruments2023-12-3105369874core:Non-currentFinancialInstruments2024-12-3105369874core:Non-currentFinancialInstruments2023-12-3105369874core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3105369874core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3105369874core:AcceleratedTaxDepreciationDeferredTax2022-12-3105369874core:AcceleratedTaxDepreciationDeferredTax2023-12-3105369874core:AcceleratedTaxDepreciationDeferredTax2024-12-3105369874core:ShareCapital2024-12-3105369874core:ShareCapital2023-12-3105369874core:RetainedEarningsAccumulatedLosses2024-12-3105369874core:RetainedEarningsAccumulatedLosses2023-12-31053698742022-12-3105369874core:Held-to-maturityFinancialAssets2024-01-012024-12-3105369874core:UKTax2024-01-012024-12-3105369874core:UKTax2023-01-012023-12-3105369874core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3105369874core:FurnitureFittings2023-12-3105369874core:ComputerEquipment2023-12-3105369874core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-31053698742023-12-3105369874core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-12-3105369874core:FurnitureFittings2024-12-3105369874core:ComputerEquipment2024-12-3105369874core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-12-3105369874core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-01-012024-12-3105369874core:FurnitureFittings2024-01-012024-12-3105369874core:ComputerEquipment2024-01-012024-12-3105369874core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2024-01-012024-12-3105369874core:ContinuingOperations2024-12-3105369874core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-12-3105369874core:FurnitureFittings2023-12-3105369874core:ComputerEquipment2023-12-3105369874core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-3105369874core:FairValue2024-12-3105369874bus:PrivateLimitedCompanyLtd2024-01-012024-12-3105369874bus:FRS1012024-01-012024-12-3105369874bus:Audited2024-01-012024-12-3105369874bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP