ATLANTIS REAL ESTATE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ATLANTIS REAL ESTATE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ATLANTIS REAL ESTATE LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
374,301
374,301
Investments
4
400,240
400,240
774,541
774,541
Current assets
Stocks
2,930,835
2,930,835
Debtors falling due within one year
5
730,437
602,500
Debtors falling due after more than one year
5
1,535,812
1,438,047
Cash at bank and in hand
74,156
84
5,271,240
4,971,466
Creditors: amounts falling due within one year
6
(6,664,509)
(6,232,598)
Net current liabilities
(1,393,269)
(1,261,132)
Total assets less current liabilities
(618,728)
(486,591)
Creditors: amounts falling due after more than one year
7
(1,667)
(11,667)
Net liabilities
(620,395)
(498,258)
Capital and reserves
Called up share capital
8
2,000,000
2,000,000
Profit and loss reserves
(2,620,395)
(2,498,258)
Total equity
(620,395)
(498,258)

The notes on pages pages 3 to 8 form an integral part of these financial statements.

ATLANTIS REAL ESTATE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 13 March 2026
Morris Nourani
Director
Company registration number 06161479 (England and Wales)
ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Atlantis Real Estate Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Saffron Wharf, 18-20 Shad Thames, LONDON, SE1 2YQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-size group under section 383 of the Companies Act 2006. The company has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.2
Going concern

As at 31 March 2025, the company's liabilities exceeded its liquid assets. The company is dependent on loans provided by the director and its parent company. The director and its parent company have confirmed that they do not intend to request repayment of the loans for the foreseeable future. If required, the director or shareholder will provide additional support. The director therefore considers it appropriate to prepare accounts on a going concern basis.true

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting account date. Changes in fair value are recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises the cost of property purchased for resale, plus development costs, maintenance costs, and interest payable in respect of loans used to fund the purchase, up to the date the property is complete and put on sale.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).

Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.

Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.

Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.

Derecognition of financial assets

Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.

Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.

1.7
Taxation

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

Current tax

Taxable profit differs from net profit as reported in the profit and loss account 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.

ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

D eferred 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 profit and loss account, except when it relates to items charged or credited directly to reserves, in which case the deferred tax is also dealt with in reserves.

1.8
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

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

2025
2024
Number
Number
Total
1
1
3
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
374,301

Investment property comprises a London flat at cost plus refurbishment costs. The director confirms that its fair value at the year end is not materially different from its cost.

4
Fixed asset investments
2025
2024
£
£
Investments in subsidiaries
400,187
400,187
Investments in associates
53
53
400,240
400,240
Fixed asset investments not carried at market value

The investment in the subsidiary companies is reflected in the financial statements at cost less any impairment provision.

ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 April 2024 & 31 March 2025
500,240
Impairment
At 1 April 2024 & 31 March 2025
100,000
Carrying amount
At 31 March 2025
400,240
At 31 March 2024
400,240
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
576,242
538,941
Prepayments and accrued income
154,195
63,559
730,437
602,500

Within prepayments and accrued income of £154,195 is an amount of £93,573 of interest receivable, which relates to one of the loans included within other debtors.

2025
2024
Amounts falling due after more than one year:
£
£
Amounts owed by undertakings in which the company has a participating interest
397,105
529,105
Other debtors
1,138,707
908,942
1,535,812
1,438,047
Total debtors
2,266,249
2,040,547

Within the total of £1,138,707 of other debtors are two loans which amount to £826,707 which are due from two different entities. Both loans are unsecured. The director is of the opinion that these amounts will be repaid to the company and as such no provision has been made in the financial statements.

See note 9 for details of related party debtors included above.

ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
885,000
10,000
Corporation tax
-
0
3,070
Other taxation and social security
39,448
27,698
Other creditors
5,721,240
6,174,841
Accruals and deferred income
18,821
16,989
6,664,509
6,232,598

Bank loans relate to a Bounce Back loan, which is secured by HM Government and a loan of £875,000, which is secured on the property to which it relates.

See note 9 for details of amounts owed to related parties included in other creditors.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,667
11,667

Bank loans relate to a Bounce Back loan, which is secured by HM Government.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000,000
2,000,000
2,000,000
2,000,000
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Interest receivable
2025
2024
£
£
Entities over which the entity has control, joint control or significant influence
37,104
34,701
ATLANTIS REAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
9
Related party transactions
(Continued)
- 8 -

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
2,173,400
2,223,400
Director
2,454,721
2,723,465

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
973,347
1,068,046
Other information

The company has given a guarantee to Investec Bank over a loan owed by Atlantis Highams Limited to the bank. The amount of the loan as at 31 March 2025 was £3,000,000.

The security for this guarantee consists of the company's shares in Atlantis Highams Limited.

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