Atlas Land Limited

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—10

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Atlas Land Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 09595887

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		4,000,000		4,500,000
Investments	5		151		151

			4,000,151		4,500,151
CURRENT ASSETS
Debtors	6	7,594,691		8,121,868
Cash at bank and in hand		89,176		89,503

		7,683,867		8,211,371
Creditors: Amounts Falling Due Within One Year	7	(8,274,715 )		(10,026,155 )

NET CURRENT ASSETS (LIABILITIES)			(590,848 )		(1,814,784 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,409,303		2,685,367

Creditors: Amounts Falling Due After More Than One Year	8		(3,858,193 )		(2,193,302 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(89,614 )

NET (LIABILITIES)/ASSETS			(448,890 )		402,451

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			(448,990 )		402,351

SHAREHOLDERS' FUNDS			(448,890)		402,451

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Atlas Land Limited

Balance Sheet (continued)

As At 31 December 2024

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 A J Chaytor

Director

19/12/2025

The notes on pages 4 to 10 form part of these financial statements.

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Atlas Land Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Atlas Land Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09595887 .

The registered office is 9a Burroughs Gardens, London, NW4 4AU .

The principal place of business is Combe House, 33 Oakfield Road, Clifton, Bristol BS8 2AT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

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	15 % on reducing balance
Fixtures & Fittings	15 % on reducing balance
Computer Equipment	3 years on costs

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at costless impairment.

Interest income on debt securities, where applicable is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are 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 Statement of Comprehensive Income.

2.8. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.9.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Investment Property

	2024
	£
Fair Value
As at 1 January 2024	4,500,000
Revaluations	(500,000)

As at 31 December 2024	4,000,000

The investment properties were revalued at an open market value of £4,000,000 by directors at the year end.

5. Investments

	Associates
	£
Cost
As at 1 January 2024	151

As at 31 December 2024	151

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	151

As at 1 January 2024	151

Associates

Details of the company's associates as at 31 December 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Silverthorne Locke Limited	Combe House, 33 Oakfield Road, Clifton, Bristol, BS8 2AT	Ordinary shares	15.00%	-

The principle activity of Silverthorne Locke Limited is the development of building projects.

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	57,775	1,145
Amounts owed by group undertakings	7,305,890	7,979,150
Other debtors	231,026	141,573

	7,594,691	8,121,868

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	48,720	99,958
Bank loans and overdrafts	248,472	248,472
Amounts owed to group undertakings	6,493,239	6,290,231
Other creditors	1,459,611	3,387,494
Taxation and social security	24,673	-

	8,274,715	10,026,155

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	3,858,193	2,193,302

9. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Bank loans	248,472	248,472

	2024	2023
	£	£
Amounts falling due between one and five years:
Bank loans	3,858,193	2,193,302

Included in loans and borrowing is a bank loan of £2,229,501 due to Lloyds Bank repayable in equal monthly instalments of £20,706.

Included in loans and borrowing is a loan of £1,877,164 due to Aurum Investment. The loan has been provided at the interest rates to be aggregate of 10% annual margin plus the Bank of England's base rate as varied from time to time and interest payable monthly.

Both the loans are secured by way of a fixed charge over the company's property.

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	89,614	89,614
Reversals	(89,614 )	(89,614)

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Contingent Liabilities

The company is bound by an agreement with the bank meaning they are jointly liable with four other group companies for all debts and interest and the debts are jointly secured on the companies' investment property.

13. Related Party Disclosures

Globus Holdings Limited

Parent company

At the balance sheet date, Globus Holdings Limited owed £84,737 (2023: £64,737) to the company.

Sterling Globus Limited

Under common control

At the balance sheet date, Sterling Globus Limited owed £770,209 (2023: £731,586) to the company.

Atlas Hive Weston Limited

Under common control

At the balance sheet date, Atlas Hive Weston Limited owed £1,051,095 (2023: £792,781) to the company.

St Vincent's Limited

Under common control

At the balance sheet date, St Vincent's Limited owed £- (2023: £2,051,135) to the company.

Atlas Hive 2 Limited

Under common control

At the balance sheet date, Atlas Hive 2 Limited owed £- (2023: £462,415) to the company.

Silverthorne Locke Limited

Under common control

At the balance sheet date, Silverthorne Locke Limited owed £5,399,849 (2023: £3,876,497) to the company.

Planeta Property Limited

Under common control

At the balance sheet date, the company owed £375,021 (2023: £180,369) to Planeta Property Limited.

Atlas Hive Limited

Under common control

At the balance sheet date, the company owed £5,590,661 (2023: £5,226,305) to Atlas Hive Limited.

...CONTINUED

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Atlas Land Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Related Party Disclosures - continued

Dean St Works Limited

Under common control

At the balance sheet date, the company owed £122,618 (2023: £37,904) to Dean St Works Limited.

Globus Students Limited

Under common control

At the balance sheet date, the company owed £404,939 (2023: £416,349) to Globus Students Limited.

St Vincent's Works Limited

Under common control

At the balance sheet date, the company owed £- (2023: £429,304) to St Vincent's Works Limited.

Directors account

At the balance sheet date, the company owed £1,274,868 (2023: £3,361,700) to the director, Mr A Chaytor.

At the balance sheet date, the company owed £18,000 (2023: £9,000) to the director, Mrs A Chaytor.

14. Controlling Parties

The ultimate parent undertaking is Globus Holdings Limited (incorporated in Guernsey).

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Directors	Mr A J Chaytor
	Mrs A Chaytor
	Miss D Chaytor

Company Number	09595887

Registered Office	9a Burroughs Gardens
	London
	NW4 4AU

Business	Combe House, 33 Oakfield Road
	Clifton
	Bristol
	BS8 2AT

Accountants	Ripe LLP
	Chartered Accountants
	9A Burroughs Gardens
	London
	NW4 4AU