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Registered number: 03186425 HARDY GROUP LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
HARDY GROUP LIMITED COMPANY INFORMATION
Directors | P D Atkinson
| E J Bolton
Registered number | 03186425
Registered office | Riding Court House
| Riding Court Road
| Datchet
| Slough
| SL3 9JT
Independent auditors | Hillier Hopkins LLP
| Chartered Accountants & Statutory Auditors
| Ground floor
| 45 Pall Mall
| London
| SW1Y 5JG
HARDY GROUP LIMITED CONTENTS
| Page
Strategic report | 1 - 5
Directors' report | 6 - 7
Independent auditors' report | 8 - 11
Statement of comprehensive income | 12
Statement of financial position | 13
Statement of changes in equity | 14 - 15
Notes to the financial statements | 16 - 19
HARDY GROUP LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Introduction
The principal activity of the Company is that of an intermediate holding company. Introduction and overview Hardy Group Limited is a wholly owned subsidiary of Atlas Aston Limited, which is a wholly owned subsidiary of Atlas FM Group Limited. In October 2024, Atlas FM Group transitioned to an Employee Ownership Trust (EOT) model, marking a pivotal milestone in our journey and placing the future of the business in the hands of the people who make it what it is. Atlas FM Group operates as one of the largest contract cleaning companies in the UK, providing national coverage with strong local presence. This structure allows us to deliver high quality, responsive and consistent services to more than 4,000 customers across over 6,500 sites. We are proud to be part of a values driven group with a clear purpose: creating happiness for ourselves and others. Employee ownership In October 2024, Atlas FM Group became an Employee Ownership Trust. The founders transferred ownership to the employees, ensuring the long term stewardship of the business and giving every colleague a direct stake in our shared future. This move reflects our belief that sustainable success comes when the people delivering our services are trusted, empowered and rewarded. Under the EOT model, Atlas can take a genuinely long term view, focusing on culture, quality and care, rather than short term financial gain. Employee ownership is strengthening engagement, retention and pride, and we are already seeing the cultural and commercial benefits this creates. Page 1
HARDY GROUP LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Financial performance and resilience
The company has been dormant for the year ended 31 December 2024. Its subsidiary, Aston Services Group Limited's turnover reduced to £19,001,757 for the year. The company has maintained a conservative financial model, operating with minimal fixed cost commitments, disciplined working capital management and strong cash generation. We have well established processes for negotiating statutory wage uplifts, including National Living Wage and employer National Insurance changes, into client contracts, protecting the long term sustainability of the business. The directors consider turnover and gross margin to be the primary key performance indicators used to monitor the company’s performance. These are reviewed regularly alongside complementary operational measures including contract retention, client satisfaction and staff retention. Future development and strategy The directors are confident about the future of Hardy Group Limited and its subsidiary are excited by the opportunities ahead as part of the wider Atlas FM Group. Our strategy for 2025 and beyond is focused on five key areas: 1. Accelerating growth through acquisitions We have become industry leaders in our ability to identify, transact, integrate and create value, culturally and financially, from acquisitions. This capability has become a key differentiator for Atlas. We will continue to pursue strategic acquisitions where we can add scale, capability and cultural alignment. 2. Unlocking growth within our existing customer base We have built an outstanding growth plan which includes realising opportunities for additional services and sites across the 4,000 customers we currently partner with. Alongside this, we are targeting new business within our key sectors, where our reputation for quality, performance and cultural alignment continues to give us a competitive edge. 3. Embedding a culture of high performance Our focus on culture and performance is becoming a defining strength of Atlas. We have created business plans across all areas of the business that clearly define our vision, strategies and success measures to track our journey of high performance and operational excellence. In 2025, we are introducing one to one Work Chats for all management and administration roles to develop capability, support wellbeing, and drive accountability. 4. Driving progress on ESG and social impact Our ESG team continue to lead meaningful improvements, particularly in environmental and social impact. We have 45 collaborative ESG plans in place with our largest customers and have reviewed all materials and consumables to consolidate on the most environmentally supportive products. We are also working with multiple UK charities to offer employment opportunities to disadvantaged groups including people who are homeless, refugees, and those leaving the care or prison systems. 5. Investing in technology and digital capability We continue to invest in software and technology to support growth and engagement. In 2025 we will roll out our new MyAtlas App to all 14,000 employees. The app will act as an internal communications platform with built in recognition and survey tools, and will include language preferences to ensure accessibility and engagement for our diverse workforce. In addition, new finance and CRM systems will go live in 2025 to improve operational efficiency and business insight. Our focus on culture as the foundation of growth While we work with detailed budgets and forecasts internally, we do not publicly disclose financial growth targets. Our unwavering focus is on nurturing an outstanding culture, grounded in our purpose and values. We believe Page 2
HARDY GROUP LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 that when our people feel connected, trusted and supported to perform at their best, both personal development and financial growth will follow. This philosophy underpins every part of our strategy and remains central to our long term vision.
Principal risks and uncertainties
The directors regularly review the risks facing the business and have established systems and controls to monitor and manage these effectively. The company operates in a competitive, low margin industry and is exposed to external and operational risks. The principal risks and uncertainties faced by the company are set out below. Wage inflation and legislative change The National Living Wage has continued to rise and remains a significant cost pressure in our industry. We have robust processes to track wage movements, model their impact and engage early with clients to negotiate price adjustments. We also monitor wider legislative changes, including the forthcoming changes to employer National Insurance from April 2025, to ensure that any financial impact is anticipated and mitigated. Credit risk As a labour intensive business, maintaining strong cash flow is critical. We have a disciplined approach to credit control, supported by close collaboration between our operational and finance teams. We maintain clear credit limits, actively monitor payment terms and ensure swift action on any emerging debtor issues. Technology and cyber risk Our reliance on digital systems is increasing as we continue to invest in technology. We manage cyber risk through robust security protocols, regular system testing, staff training, and business continuity planning. We also work closely with external IT security specialists to ensure our controls remain current and effective. Competitive pricing pressure We continue to see some competitors bidding at unsustainably low prices within tender processes. While this does not align with our values or long term approach, it can create short term pricing pressure in parts of the market. We mitigate this risk by focusing on the value we deliver through quality, culture and long term partnership, which supports high client retention and reduces exposure to price led competition. Labour availability Labour availability and recruitment are not currently considered principal risks due to our low staff turnover and the high proportion of introductions and referrals from our existing colleagues. Page 3
HARDY GROUP LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Key performance indicators (KPI)
The directors monitor a balanced set of financial and non-financial indicators to measure the company’s performance, ensure the delivery of its strategy and support long term decision making. Our KPI framework reflects our belief that outstanding culture drives high performance. We track progress across three core pillars, loyalty, growth and wastage avoidance, supported by a broader set of operational and cultural metrics. Loyalty • Staff retention rates • Client retention rates • Employee Net Promoter Score, measured every six months • Client Net Promoter Score, measured annually Social Value and ESG • Social value delivered using the TOMS framework • Environmental progress tracked through Ecovadis and FuturePlus • Stars of Atlas nominations Health, Safety and Wellbeing • Full health and safety reporting, including near misses and RIDDOR incidents • Work Chat participation levels Culture and Engagement • Internal communication data, including number of posts and engagement levels • Engagement with the MyAtlas app from 2025 onwards Growth • Growth from within, additional services and sites from existing customers • New business growth, including pipeline size and conversion rates • Monthly client audits, measuring service standards and overall perception Financial Performance • Results tracked at site, contract, region, sector and group level, with regular reporting on turnover, margin and profitability These KPIs are reviewed regularly by the directors and senior leadership team. They provide insight into the health and trajectory of the business, ensuring that decisions are informed by both cultural and commercial performance.
Going concern
Following a group restructure post year end, the Directors have no future plans for the company and expect to cease operations in the foreseeable future. The Directors, therefore, do not consider that the going concern basis is appropriate for these financial statements and have instead prepared the financial statements on a basis other than going concern. This basis included all assets at their recoverable amounts rather than their historical costs and makes provisions for the costs of disposals of the assets. All assets and liabilities are treated as recoverable and payable within one year. Page 4
HARDY GROUP LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This report was approved by the board on 17 March 2026 and signed on its behalf.
P D Atkinson Director
Page 5
HARDY GROUP LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The directors present their report and the financial statements for the year ended 31 December 2024.
Directors' responsibilities statement
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 year. 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.
Directors
The directors who served during the year were:
I Gilston (resigned 3 September 2024)
C Gilston (resigned 3 September 2024)
N J Earley (appointed 3 September 2024, resigned 1 July 2025)
R W Empson (appointed 3 September 2024, resigned 1 July 2025)
The following directors have been appointed after the year end of the accounting period. P D Atkinson (appointed 1 July 2025) E J Bolton (appointed 1 July 2025)
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Page 6
HARDY GROUP LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Auditors
During the year, the directors appointed Hillier Hopkins LLP as the auditors and they will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board on 17 March 2026 and signed on its behalf.
P D Atkinson Director
Page 7
HARDY GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARDY GROUP LIMITED
Opinion
We have audited the financial statements of Hardy Group Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of 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). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditors' 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.
Emphasis of matter – basis of preparation / financial statements prepared on a basis other than going concern
Without qualifying our opinion, we draw attention to basis of preparation set out in note 2.1 in the financial statements. Accounting Standards require that financial statements are drawn up on the going concern basis unless it is considered unlikely that the company will continue operating for the foreseeable future. On the basis that the director considered that it is more likely than not that the company will cease its operations and be dissolved within the forthcoming twelve months, the financial statements have been drawn up on a basis other than going concern as set out in note 2.1. Our opinion is not modified in respect of this matter. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 8
HARDY GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARDY GROUP LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
Opinion on other matters prescribed by the Companies Act 2006
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 year 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.
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 Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit. Page 9
HARDY GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARDY GROUP LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 6, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Auditors' 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 Auditors' 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 nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management; ∙the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities; ∙any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: °identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; °detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; °the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; ∙the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. Page 10
HARDY GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HARDY GROUP LIMITED (CONTINUED) As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and relevant tax legislation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditors' report.
Use of our 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 Auditors' 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. Michael Jacoby (Senior statutory auditor) for and on behalf of Hillier Hopkins LLP Chartered Accountants & Statutory Auditors Ground floor 45 Pall Mall London SW1Y 5JG 17 March 2026 Page 11
HARDY GROUP LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023
| £ | £
Income from shares in group undertakings |  | 33,000 | 301,575
Amounts written off investments |  | - | (1)
Profit before tax |  | 33,000 | 301,574
Tax on profit |  | - | -
Profit for the financial year |  | 33,000 | 301,574
Total comprehensive income for the year |  | 33,000 | 301,574
The notes on pages 16 to 19 form part of these financial statements.
Page 12
HARDY GROUP LIMITED REGISTERED NUMBER: 03186425 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 8 |  | 512,150 |  | 512,250
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 9 |  | 1,658 |  | -
Total assets less current liabilities |  |  | 513,808 |  | 512,250
Net assets |  |  | 513,808 |  | 512,250
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 48,090 |  | 46,532
Share premium account |  |  | 244,175 |  | 244,175
Capital redemption reserve |  |  | 9,698 |  | 9,698
Profit and loss account |  |  | 211,845 |  | 211,845
|  |  | 513,808 |  | 512,250
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2026.
P D Atkinson
Director
The notes on pages 16 to 19 form part of these financial statements. Page 13
HARDY GROUP LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2024 | 46,532 | 244,175 | 9,698 | 211,845 | 512,250
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 33,000 | 33,000
Total comprehensive income for the year | - | - | - | 33,000 | 33,000
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | - | (33,000) | (33,000)
Shares issued during the year | 1,558 | - | - | - | 1,558
Total transactions with owners | 1,558 | - | - | (33,000) | (31,442)
At 31 December 2024 | 48,090 | 244,175 | 9,698 | 211,845 | 513,808
| The notes on pages 16 to 19 form part of these financial statements.
Page 14
HARDY GROUP LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 January 2023 | 46,532 | 244,175 | 9,698 | 5,271 | 305,676
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 301,574 | 301,574
Total comprehensive income for the year | - | - | - | 301,574 | 301,574
Contributions by and distributions to owners |  |  |  |  |
Dividends: Equity capital | - | - | - | (95,000) | (95,000)
Total transactions with owners | - | - | - | (95,000) | (95,000)
At 31 December 2023 | 46,532 | 244,175 | 9,698 | 211,845 | 512,250
| The notes on pages 16 to 19 form part of these financial statements.
Page 15
HARDY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Hardy Group Limited is a company limited by shares, incorporated England and Wales. The address of the registered office is Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT. The company is an intermediate holding company. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. Following a group restructure post year end, the Directors have no future plans for the company and expect to cease operations in the foreseeable future. The Directors, therefore, do not consider that the going concern basis is appropriate for these financial statements and have instead prepared the financial statements on a basis other than going concern. This basis included all assets at their recoverable amounts rather than their historical costs and makes provisions for the costs of disposals of the assets. All assets and liabilities are treated as recoverable and payable within one year. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
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 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d). This information is included in the consolidated financial statements of Atlas FM Group Limited as at 31 December 2024 and these financial statements may be obtained from Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT.
| 2.3 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In preparing these financial statements, the directors have had to make the following judgements in applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements: Determine whether there has been any indicators of impairment in the value of the Company's investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future performance of the investments. Page 16
HARDY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Auditors' remuneration
| The company's audit fees have been paid by other group companies and these amounted to £6,500 (2023 - £3,500). The companyhas taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated amounts of the parent company.
5. | Employees
| No remuneration was paid to any employees during the year (2023 - £Nil).
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
6. | Directors' remuneration
| Directors' remuneration during the year was £Nil (2023 - £Nil).
7. | Dividends
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Dividends declared and paid | 33,000 | 95,000
|  | 33,000 | 95,000
| The directors and former directors have an interest in the dividends declared of £33,000 (2023 - £95,000).
Page 17
HARDY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost |
| At 1 January 2024 | 512,250
| Disposals | (100)
| At 31 December 2024 | 512,150
| Net book value |
| At 31 December 2024 | 512,150
| At 31 December 2023 | 512,250
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Aston Services Group Limited | Same as parent | Ordinary | 100%
| Care Facility Management Limited, a former 100% dormant subsidiary, was disposed of in the year at par value.
9. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 100 | -
| Other debtors | 1,558 | -
|  | 1,658 | -
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HARDY GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 94,293 (2023 - 91,200) Ordinary A shares of £0.01 each | 943 | 912
|  | 94,293 (2023 - 91,240) Ordinary B shares of £0.50 each | 47,147 | 45,620
|  |  | 48,090 | 46,532
On 18 Spetember 2024, 3,053 Ordinary A share of £0.01 each and 3,053 Ordinary B shares of £0.50 each were issued for cash at par value.
11. | Related party transactions
| The Company has taken advantage of the exemption in FRS 102 Section 33: Related party disclosures from the requirement to disclose transactions with other wholly owned group companies.
12. | Controlling party
Up to 3 September 2024, the ultimate controlling party was I Gilston. From 3 September 2024, the immediate parent company is Atlas Aston Limited and the ultimate parent company is Atlas FM Group Limited. Both companies are incorporated in England and Wales. Atlas FM Group Limited has prepared group accounts for the year ended 31 December 2024. Consolidated accounts for Atlas FM Group Limited are available at Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ and from the registered office Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT. This is the only company in the group which prepares consolidated accounts. Up to 29 October 2024, the ultimate controlling parties were N J Earley and R W Empson, the former directors. On 29 October 2024, the Atlas FM Group Employee Ownership Trust purchased 100% of the share capital of Atlas FM Group Limited, to become the controlling party. The ultimate controlling party subsequently became Zedra Trust Company (Guernsey) Limited, which is the trustee of the Atlas FM Group Employee Ownership Trust.
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