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Ms Atlantic Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Track Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13063267
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 42,737 66,066
42,737 66,066
CURRENT ASSETS
Debtors 5 56,865 141,663
Cash at bank and in hand 7,339 -
64,204 141,663
Creditors: Amounts Falling Due Within One Year 6 - (83,569 )
NET CURRENT ASSETS (LIABILITIES) 64,204 58,094
TOTAL ASSETS LESS CURRENT LIABILITIES 106,941 124,160
Creditors: Amounts Falling Due After More Than One Year 7 (85,037 ) (90,275 )
NET ASSETS 21,904 33,885
CAPITAL AND RESERVES
Called up share capital 8 2 1
Profit and Loss Account 21,902 33,884
SHAREHOLDERS' FUNDS 21,904 33,885
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mycle Buckley
Director
08/08/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ms Atlantic Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13063267 . The registered office is 45 Pier Avenue, Herne Bay, Kent, CT6 8PG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2024 57,210 53,326 110,536
As at 31 December 2024 57,210 53,326 110,536
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 January 2024 24,511 19,959 44,470
Provided during the period 9,998 13,331 23,329
As at 31 December 2024 34,509 33,290 67,799
Net Book Value
As at 31 December 2024 22,701 20,036 42,737
As at 1 January 2024 32,699 33,367 66,066
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 33,554 5,795
Due after more than one year
Trade debtors 23,311 135,868
56,865 141,663
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 83,569
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 21,596 21,596
Other creditors 63,441 68,679
85,037 90,275
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 1
Page 4