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Registered number: 14711865 ATLAS ASTON LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
ATLAS ASTON LIMITED COMPANY INFORMATION
Directors | P D Atkinson
| C Wisely
Registered number | 14711865
Registered office | Riding Court House
| Riding Court Road
| Datchet
| Slough
| Berkshire
| SL3 9JT
Independent auditors | Hillier Hopkins LLP
| Chartered Accountants & Statutory Auditors
| Ground floor
| 45 Pall Mall
| London
| SW1Y 5JG
ATLAS ASTON 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 - 21
ATLAS ASTON LIMITED STRATEGIC REPORT FOR THE PERIOD ENDED 31 DECEMBER 2024
Introduction and overview
The principal activity of the Company is that of an intermediate holding company. Atlas Aston Limited 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
ATLAS ASTON LIMITED STRATEGIC REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2024
Financial performance and resilience
The company has been dormant for the year ended 31 December 2024. Its sub-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 Atlas Aston Limited and its subsidiaries and 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
ATLAS ASTON LIMITED STRATEGIC REPORT (CONTINUED) FOR THE PERIOD 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
ATLAS ASTON LIMITED STRATEGIC REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2024
Key Performance Indicators (KPIs)
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
ATLAS ASTON LIMITED STRATEGIC REPORT (CONTINUED) FOR THE PERIOD 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
ATLAS ASTON 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.
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 period were:
N J Earley (resigned 1 January 2025)
R W Empson (resigned 1 January 2025)
The following directors have been appointed after the year end of the accounting period. P D Atkinson (appointed 1 January 2025) C Wisely (appointed 1 January 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
ATLAS ASTON LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE PERIOD 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
ATLAS ASTON LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS ASTON LIMITED
Opinion
We have audited the financial statements of Atlas Aston Limited (the 'Company') for the period ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of comprehensive income, the Statement of financial position 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 result for the period 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
ATLAS ASTON LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS ASTON 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 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.
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
ATLAS ASTON LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS ASTON 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
ATLAS ASTON LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS ASTON 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
ATLAS ASTON LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 DECEMBER 2024
The Company has not traded during the period or the preceding financial year. During these periods, the Company received no income and incurred no expenditure and therefore made neither profit or loss.
The notes on pages 16 to 21 form part of these financial statements.
Page 12
ATLAS ASTON LIMITED REGISTERED NUMBER: 14711865 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
| 31 December | 31 December | 31 March | 31 March
| 2024 | 2024 | 2024 | 2024
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Investments |  |  | 4,500,000 |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1 |  | 1 |
|  | 1 |  | 1 |
Creditors: amounts falling due within one year |  | (3,900,000) |  | - |
Net current (liabilities)/assets |  |  | (3,899,999) |  | 1
Total assets less current liabilities |  |  | 600,001 |  | 1
Creditors: amounts falling due after more than one year |  |  | (600,000) |  | -
Net assets |  |  | 1 |  | 1
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 1 |  | 1
|  |  | 1 |  | 1
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 21 form part of these financial statements. Page 13
ATLAS ASTON LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
| Called up share capital | Total equity
| £ | £
At 1 April 2024 | 1 | 1
Other comprehensive income for the period | - | -
Total comprehensive income for the period | - | -
Total transactions with owners | - | -
At 31 December 2024 | 1 | 1
| The notes on pages 16 to 21 form part of these financial statements.
Page 14
ATLAS ASTON LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 MARCH 2024
| Called up share capital | Total equity
| £ | £
At 1 April 2023 | 1 | 1
Other comprehensive income for the year | - | -
Total comprehensive income for the year | - | -
Total transactions with owners | - | -
At 31 March 2024 | 1 | 1
| The notes on pages 16 to 21 form part of these financial statements.
Page 15
ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
Atlas Aston 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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.
| 2.4 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.5 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Page 16
ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Financial instruments (continued)
Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Page 17
ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.5 | Financial instruments (continued)
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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled. Page 18
ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
3. | Auditors' remuneration
| During the period, the Company obtained the following services from the Company's auditors:
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
4. | Employees
| No remuneration was paid to any employees during the year (period ended 31 March 2024 - £Nil).
| The average monthly number of employees, including the directors, during the period was as follows:
|  |  | 31 December | 31 March
|  |  | 2024 | 2024
|  |  | No. | No.
|  | Directors | 2 | 2
5. | Directors' remuneration
| Directors' remuneration during the period was £Nil (period ended 31 March 2024 - £Nil).
6. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| Additions | 4,500,000
| At 31 December 2024 | 4,500,000
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ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
| Subsidiary undertakings
| The following were subsidiary undertakings of the Company:
| Name | Registered office | Class of shares | Holding
| Hardy Group Limited | Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT | Ordinary | 100%
| Aston Services Group Limited | Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT | Ordinary | 100%
| Aston Services Group is directly held subsidiary of Hardy Group Limited
| The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the period ended on that date for the subsidiary undertakings were as follows:
| Name | Aggregate of share capital and reserves | Profit/(Loss)
|  | £ | £
| Hardy Group Limited | 513,808 | 33,000
| Aston Services Group Limited | 845,377 | 685,991
7. | Debtors
|  |  |  |  | 31 December | 31 March
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Called up share capital not paid | 1 | 1
|  | 1 | 1
Page 20
ATLAS ASTON LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 31 December | 31 March
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 2,700,000 | -
| Other creditors | 1,200,000 | -
|  | 3,900,000 | -
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 31 December | 31 March
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
| Other creditors | 600,000 | -
|  | 600,000 | -
10. | Share capital
|  |  |  |  | 31 December | 31 March
|  |  |  |  | 2024 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 Ordinary share of £1 | 1 | 1
11. | Controlling party
The immediate parent company is Atlas FM 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. Page 21