Registered number:
FOR THE PERIOD ENDED 31 DECEMBER 2024
AT MANAGEMENT LIMITED
COMPANY INFORMATION
AT MANAGEMENT LIMITED
CONTENTS
AT MANAGEMENT LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The Board of Directors is pleased to present the strategic report and financial statements for the period ended 31 December 2024. During this period, the company has maintained its focus on delivering high-quality outsourced customer experience and digital services strengthening its market position.
Over the past period, the company has achieved stability in its core trading activities following a realignment of key revenue sources initiated in the previous year. This has been supported by strengthened relationships with significant clients, which we believe will underpin future growth opportunities.
Operating profit improved year-on-year meeting Directors’ expectations, reflecting prudent management amid challenging market conditions in the UK. This financial stability has allowed us to invest further in our capabilities and resources, which are critical to delivering on our long-term strategic objectives.
A key milestone during the period was the acquisition of the remaining shareholding in SA Commercial (Pty) in South Africa. This acquisition has added a highly reputable and profitable business to our Group and enhanced our nearshore operational capabilities.
Further strategic initiatives undertaken during the reporting period have positioned AT Management within a more diversified group of companies, offering a broader range of solutions and services across multiple international markets and thereby enhancing our growth potential. The wider group activities were rebranded as ATM Group in Q4 2024 enhancing our profile as an international provider.
The Directors have focused on maintaining a robust balance sheet, which improved with net current assets of £3.30 million and shareholders’ funds of £3.67 million. Our growth strategy continues to be funded primarily through internally generated cash, with no additional debt incurred during the expansion.
Operating profit improved year-on-year meeting Directors’ expectations, reflecting prudent management amid challenging market conditions in the UK. This financial stability has allowed us to invest further in our capabilities and resources, which are critical to delivering on our long-term strategic objectives.
A key milestone during the period was the acquisition of the remaining shareholding in SA Commercial (Pty) in South Africa. This acquisition has added a highly reputable and profitable business to our Group and enhanced our nearshore operational capabilities.
Further strategic initiatives undertaken during the reporting period have positioned AT Management within a more diversified group of companies, offering a broader range of solutions and services across multiple international markets and thereby enhancing our growth potential. The wider group activities were rebranded as ATM Group in Q4 2024 enhancing our profile as an international provider.
The Directors have focused on maintaining a robust balance sheet, which improved with net current assets of £3.30 million and shareholders’ funds of £3.67 million. Our growth strategy continues to be funded primarily through internally generated cash, with no additional debt incurred during the expansion.
Despite ongoing economic uncertainties and fluctuating consumer sentiment in the UK, the Directors remain confident that the strategic measures implemented to enhance both our managed and digital services offerings within a robust operational delivery framework position the business well for the future.
The company’s financial instruments including debtors, cash at bank, and creditors form a core part of our operations and present minimal financial risk. Our strong financial position enables us to maintain favourable terms with key suppliers and credit partners.
Healthy cash reserves have been sustained over the period, supported by banking partners. The Directors continue to closely monitor working capital, with financial risk management overseen directly by the Board and executed through established policies within the finance department. Specific guidelines ensure effective credit risk management.
Client Risk - maintaining the integrity of client relationships is vital for ongoing success.
Credit Risk - stringent credit checks are applied to potential clients before service commencement, coupled with ongoing credit limit reviews.
Liquidity and Cash Flow Risk - the company maintains sufficient liquidity for operational needs, with monthly cash flow reports reviewed by the Directors to manage opportunities and risks.
Price Risk - all expenditure requires management authorisation to ensure cost efficiency.
Data and Compliance Risk - the company actively manages risks related to ransomware and IT security through up-to-date software, firewall enforcement, and regular backups. Compliance with the Data Protection Act 2018 and UK GDPR is maintained rigorously to safeguard customer data and uphold the company’s reputation.
The company’s financial instruments including debtors, cash at bank, and creditors form a core part of our operations and present minimal financial risk. Our strong financial position enables us to maintain favourable terms with key suppliers and credit partners.
Healthy cash reserves have been sustained over the period, supported by banking partners. The Directors continue to closely monitor working capital, with financial risk management overseen directly by the Board and executed through established policies within the finance department. Specific guidelines ensure effective credit risk management.
Client Risk - maintaining the integrity of client relationships is vital for ongoing success.
Credit Risk - stringent credit checks are applied to potential clients before service commencement, coupled with ongoing credit limit reviews.
Liquidity and Cash Flow Risk - the company maintains sufficient liquidity for operational needs, with monthly cash flow reports reviewed by the Directors to manage opportunities and risks.
Price Risk - all expenditure requires management authorisation to ensure cost efficiency.
Data and Compliance Risk - the company actively manages risks related to ransomware and IT security through up-to-date software, firewall enforcement, and regular backups. Compliance with the Data Protection Act 2018 and UK GDPR is maintained rigorously to safeguard customer data and uphold the company’s reputation.
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AT MANAGEMENT LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
We recognise that cultivating the right organisational culture and values is essential to delivering exceptional customer experiences on behalf of our clients. Our employees are pivotal to this commitment.
We are dedicated to being a responsible employer, ensuring fair pay and benefits, and prioritising the health, safety, and well-being of our workforce. We continued to invest in our ESG activities across the group with a commitment to long-term initiatives for impact sourcing and carbon neutrality.
We are dedicated to being a responsible employer, ensuring fair pay and benefits, and prioritising the health, safety, and well-being of our workforce. We continued to invest in our ESG activities across the group with a commitment to long-term initiatives for impact sourcing and carbon neutrality.
Our results align with our financial targets and demonstrate the resilience of our business within a challenging trading environment.
Our non-financial KPIs are primarily focused on developing and optimising performance for our client partnerships including those for service quality, digital containment and customer value creation being our primary drivers.
Brand awareness and company profile remain strong, supported by high customer and supplier loyalty. These indicators are also tracked across all business areas to ensure continuous improvement and strategic alignment.
Brand awareness and company profile remain strong, supported by high customer and supplier loyalty. These indicators are also tracked across all business areas to ensure continuous improvement and strategic alignment.
The Board is satisfied with the progress made during the period and the company’s solid financial position. The strategic initiatives underway, combined with disciplined financial management and operational excellence, place the business on a firm footing to pursue its growth ambitions.
This report was approved by the Board of Directors and signed on its behalf.
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AT MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the period ended 31 December 2024.
On 12 February 2025, the directors resolved to change the accounting reference date from 31 July to 31 December so as to be coterminous with the year end of fellow group companies. These financial statements have been prepared for a 17 month period ended 31 December 2024.
The profit for the period, after taxation, amounted to £2,034,689 (2023 - £775,942).
An interim ordinary dividend was paid amounting to £460,750 (2023 - £739,250). The directors do not recommend payment of a final dividend.
The directors who served during the period were:
On 28 January 2025, M Molinero and J P Duffy were appointed as directors.
As permitted by Section 414c(11) of the Companies Act 2006, the directors have elected to disclose information required to be in the directors' report by Schedule 7 of the 'Large and Medium-sized Companies and Group (Accounts and Reports) Regulations 2008', in the strategic report.
This report was approved by the board and signed on its behalf.
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AT MANAGEMENT LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial period. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 to 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.
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AT MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT MANAGEMENT LIMITED
FOR THE PERIOD ENDED 31 DECEMBER 2024
We have audited the financial statements of AT Management Limited (the 'company') for the period ended 31 December 2024, which comprise the profit and loss account, the balance sheet, the statement of changes in equity and the 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 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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AT MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT MANAGEMENT LIMITED (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
The other information comprises the information included in the Annual Report other than the financial statements and our auditor's report thereon. The directors are 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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 strategic report or the directors' report.
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AT MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT MANAGEMENT LIMITED (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the telecommunications sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested a sample of journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance; and
∙reviewing correspondence with HM Revenue and Customs.
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AT MANAGEMENT LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AT MANAGEMENT LIMITED (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Auditor's responsibilities for the audit of the financial statements (continued)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, 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 members 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
WC2B 5AH
Date:
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AT MANAGEMENT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 31 form part of these financial statements.
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AT MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
AT Management Limited is a private company limited by shares incorporated in England and Wales. The address of its principal place of business and registered office is Unit 3 & 4 St Margarets Business Centre, Burleys Way, Leicester, LE1 3BE.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d)s (inclusion of statement of cash flows);
∙the requirements of Section 7 Statement of Cash Flows (inclusion of statement of cash flows);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of NDH Group Holdings Limited as at 31 December 2024 and these financial statements may be obtained from Companies House.
The company was, at the end of the period, a wholly-owned subsidiary of NDH Group Holdings Limited, whose registered address is Unit 3 & 4 St Margarets Business Centre, Burleys Way, Leicester, LE1 3BE. NDH Group Holdings Limited prepares consolidated financial statements, in which the company is included.
In accordance with the exemption given in Section 400 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated accounts.
In accordance with the exemption given in Section 400 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated accounts.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The company has prepared financial statements on a single-entity basis in accordance with the exemption given in Section 400 of the Companies Act 2006. In the prior year, the company prepared consolidated financial statements which included the results and financial position of its subsidiaries.
This change reflects a revised reporting approach following a group restructure in the year. As a result, the financial statements for the current year present only the financial position and performance of the company. Where necessary, certain comparative figures have been reanalysed to conform with the presentation and classification adopted in the current year. These reclassifications do not impact the prior year’s reported net assets or profit for the company.
This change reflects a revised reporting approach following a group restructure in the year. As a result, the financial statements for the current year present only the financial position and performance of the company. Where necessary, certain comparative figures have been reanalysed to conform with the presentation and classification adopted in the current year. These reclassifications do not impact the prior year’s reported net assets or profit for the company.
On 12 February 2025, the directors resolved to change the accounting reference date from 31 July to 31 December so as to be coterminous with the year end of fellow group companies.
These financial statements have been prepared for a 17 month period ended 31 December 2024. As a result, the comparative information as presented within these financial statements and related notes are not entirely comparable as these represent the year to 31 July 2023.
These financial statements have been prepared for a 17 month period ended 31 December 2024. As a result, the comparative information as presented within these financial statements and related notes are not entirely comparable as these represent the year to 31 July 2023.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
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.
The company’s policies for its major classes of financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, and loans from related undertakings, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Ordinary shares are classified as equity
The whole of the turnover is attributable to the principal activity of the company.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
10.Taxation (continued)
There were no factors that may affect future tax charges.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
12.Tangible fixed assets (continued)
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
12.Tangible fixed assets (continued)
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The bank loan is secured by a guarantee pledged by a director, which is limited to £175,500 in favour of the company's bankers. In addition this is supported by a fixed and floating charge over the assets of the company.
The interest on the bank loan is charged at 3.99% above the prevailing base rate. The bank loan is repayable by way of equal monthly instalments by October 2026.
The interest on the bank loan is charged at 3.99% above the prevailing base rate. The bank loan is repayable by way of equal monthly instalments by October 2026.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The bank loan is secured by a guarantee pledged by a director, which is limited to £175,500 in favour of the company's bankers. In addition this is supported by a fixed and floating charge over the assets of the company.
The interest on the bank loan is charged at 3.99% above the prevailing base rate. The bank loan is repayable by way of equal monthly instalments by October 2026.
The interest on the bank loan is charged at 3.99% above the prevailing base rate. The bank loan is repayable by way of equal monthly instalments by October 2026.
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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Profit and loss account
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AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group.
Transactions with other related parties are as follows:
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Amounts owed to/from related parties are unsecured, interest free and due for settlement on demand.
Page 30
AT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The immediate parent undertaking of the company is NDH Group Holdings Limited, a company registered in England and Wales. The address of its registered office is Unit 3 & 4 St Margarets Business Centre, Burleys Way, Leicester, LE1 3BE.
The parent undertaking of the smallest and largest group of undertakings for which group financial statements are drawn up, and of which the company is a member is NDH Group Holdings Limited. Copies of the group financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
In the opinion of the directors, the ultimate controlling party is the McArthur family.
The parent undertaking of the smallest and largest group of undertakings for which group financial statements are drawn up, and of which the company is a member is NDH Group Holdings Limited. Copies of the group financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
In the opinion of the directors, the ultimate controlling party is the McArthur family.
Page 31