REGISTERED NUMBER: 01588770 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

ATLAS HEATING SUPPLIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

596,546

645,056

Investments

5

500

500

597,046

645,556

CURRENT ASSETS

Stocks

751,067

718,994

Debtors

6

307,160

299,184

Cash at bank and in hand

740,918

764,517

1,799,145

1,782,695

CREDITORS

Amounts falling due within one year

7

(1,037,998

)

(953,021

)

NET CURRENT ASSETS

761,147

829,674

TOTAL ASSETS LESS CURRENT LIABILITIES

1,358,193

1,475,230

CREDITORS

Amounts falling due after more than one year

8

(108,912

)

(188,345

)

PROVISIONS FOR LIABILITIES

(66,675

)

(56,313

)

NET ASSETS

1,182,606

1,230,572

CAPITAL AND RESERVES

Called up share capital

45,000

45,000

Share premium

254,073

254,073

Retained earnings

883,533

931,499

SHAREHOLDERS' FUNDS

1,182,606

1,230,572

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2026 and were signed on its behalf by:

Mr G D Baguley - Director

1.	STATUTORY INFORMATION

Atlas Heating Supplies Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 01588770 and registered office is Newton Street, Stretford, Manchester, M32 8LS.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements represent the results of the individual entity.

The functional and presentation currency of the entity is £ sterling.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Stock valuation

Stock is initially measured at the cost price and subsequently measured at cost less obsolescence provision. As new legislation is introduced the directors make estimates as to the recoverability of cost on the older stock lines and provide for them prudently.

Turnover

Turnover represents the amounts receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. Revenue is recognised once the goods have passed to the customer. Deposits received in advance are included within creditors in the balance sheet, and are released to income when the goods have passed to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Depreciation is provided on all tangible fixed assets, other than freehold land, at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the term of the lease, whichever is shorter.

Freehold buildings

- 4% on reducing balance

Long leasehold property

- 4% on reducing balance

Plant and machinery

- 10% to 20% on reducing balance

Motor vehicles

- 25% on reducing balance

Investments

Fixed asset investments are held at cost in the accounts, less any provision for any permanent diminution in value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial instruments are recognised 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, which include fixed asset investments, trade debtors, other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, hire purchase contracts, and directors current accounts, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

The related obligations, net of future finance charges are included in creditors.

Payments made under operating leases are charged to the income statement on a straight line basis over the lease term.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable for the year are charged to the profit and loss account.

Going concern

At the balance sheet date of 31 October 2025, the company made a loss for the year of £47,966 (2024: £129,950 loss), and had net assets at that date of £1,182,606 (2024: £1,230,572). The company has cash reserves as at the date of approval of the financial statements. The directors consider that the company has sufficient working capital to enable it to continue to trade and meet its liabilities as they fall due for at least the next twelve months from the date of approval of the financial statements.

For this reason, they continue to adopt the going concern basis in preparing the financial statements for the year ended 31 October 2025.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2024 - 34 ) .

4.	TANGIBLE FIXED ASSETS

Long

Freehold

leasehold

Plant and

Motor

property

property

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2024

689,523

278,323

448,629

398,617

1,815,092

Additions

-

-

9,604

32,385

41,989

Disposals

-

-

-

(34,400

)

(34,400

)

At 31 October 2025

689,523

278,323

458,233

396,602

1,822,681

DEPRECIATION

At 1 November 2024

420,419

192,394

358,135

199,088

1,170,036

Charge for year

10,764

3,437

12,437

49,449

76,087

Eliminated on disposal

-

-

-

(19,988

)

(19,988

)

At 31 October 2025

431,183

195,831

370,572

228,549

1,226,135

NET BOOK VALUE

At 31 October 2025

258,340

82,492

87,661

168,053

596,546

At 31 October 2024

269,104

85,929

90,494

199,529

645,056

Included in cost of land and buildings is freehold land of £ 47,560 (2024 - £ 47,560 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2024

21,861

263,827

285,688

Additions

-

32,385

32,385

Disposals

-

(34,400

)

(34,400

)

At 31 October 2025

21,861

261,812

283,673

DEPRECIATION

At 1 November 2024

3,825

75,180

79,005

Charge for year

1,803

46,728

48,531

Eliminated on disposal

-

(19,988

)

(19,988

)

At 31 October 2025

5,628

101,920

107,548

NET BOOK VALUE

At 31 October 2025

16,233

159,892

176,125

At 31 October 2024

18,036

188,647

206,683

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2024

and 31 October 2025

500

NET BOOK VALUE

At 31 October 2025

500

At 31 October 2024

500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

186,847

213,199

Other debtors

17,311

2,958

Prepayments and accrued income

103,002

83,027

307,160

299,184

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

56,494

72,734

Hire purchase contracts (see note 9)

74,525

61,888

Trade creditors

604,926

508,400

Social security and other taxes

121,772

129,040

Other creditors

13,204

13,053

Directors' current accounts

5,626

6,814

Accrued expenses

161,451

161,092

1,037,998

953,021

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

37,500

Hire purchase contracts (see note 9)

108,912

150,845

108,912

188,345

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

74,525

61,888

Between one and five years

108,912

150,845

183,437

212,733

Non-cancellable

operating leases

2025

2024

£

£

Within one year

18,700

18,700

Between one and five years

49,867

68,567

68,567

87,267

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

37,500

87,500

Hire purchase contracts

183,437

212,733

220,937

300,233

Bank loans are secured by a debenture dated 12 June 2020, consisting of a fixed and floating charge over all assets.

Hire purchase liabilities are secured over the assets they are in respect of.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thomas Smart (Senior Statutory Auditor)

for and on behalf of Harold Sharp Limited

12.	RELATED PARTY DISCLOSURES

At 31 October 2025 the amounts owed to the directors' current accounts were £5,626 (2024: £6,814).

The company paid dividends of £nil (2024: £14,932) to the shareholders.

13.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by its directors, Mr J F Baguley and Mr G D Baguley who between them owned 61.7% of the ordinary shares of the company, and members of their close family who owned the remaining shares.