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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
COMPANY INFORMATION
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ATLAS FM PAYROLL LIMITED
CONTENTS
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their Strategic report together with the audited financial statements for the year ended 31 December 2025.
Atlas FM Payroll Limited is a wholly owned subsidiary of Atlas FM Group Limited, the UK's fastest-growing privately owned facilities management business, founded in 1986 and built on a simple, enduring purpose: creating happiness for ourselves and others. The Atlas FM Group provides national coverage with strong local presence, delivering high quality, responsive and consistent services to more than 4,000 customers across over 6,500 sites. From our roots in cleaning, we have grown into a full-service integrated FM business, and nearly four decades on, our culture remains our greatest competitive advantage. Employee Ownership In October 2024, Atlas FM Group transitioned to an Employee Ownership Trust, marking the most significant milestone in our history. Our founders transferred ownership to the people who build and deliver Atlas every single day, giving all 15,000 colleagues a direct stake in our shared future and ensuring the long-term stewardship of a business they have helped to create. This reflects our core belief that sustainable success comes when the people delivering our services are trusted, empowered and rewarded. Under the EOT model, Atlas takes a genuinely long-term view, focusing on culture, quality and care rather than short-term financial gain. An independent EOT Trustee Board holds the entire share capital of Atlas FM Group on behalf of all employee owners, providing a governance structure built for the long term. We are already seeing the difference: stronger engagement, improved retention and a growing sense of shared pride that makes Atlas a better business and a better place to work.
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are pleased to report strong growth and continued progress for the year ended 31 December 2025, reflecting the strength of our customer relationships and the effectiveness of our growth strategy, delivered against a backdrop of sustained wage inflation, rising National Living Wage costs, legislative National Insurance increases, and continued competitive pricing pressure across the sector.
Growth was achieved through all four of our strategic channels: securing significant new contracts across multiple sectors; delivering organic growth from our existing client base; implementing annual price increases in line with National Living Wage and inflationary pressures; and successfully integrating acquired businesses into the Atlas FM Group. These achievements reflect the resilience and adaptability of the business. We have maintained a strong financial position, underpinned by robust cost management and operational discipline, while continuing to invest in our people, systems and culture. The transition to employee ownership has reinforced our long-term outlook and strengthened our sense of shared accountability, purpose and pride across the business. Financial Performance and Resilience Turnover for the year increased to £182,964,132 (2024: £108,482,904), with gross margin of 0.47% (2024: 0.49%). This growth reflects the combined impact of new business wins, acquisitions, price uplifts and the expansion of services delivered to existing clients. Atlas operates a lean and disciplined financial model, with minimal fixed cost commitments, careful working capital management and strong cash generation. We have well-established processes for negotiating statutory wage uplifts, including National Living Wage increases and changes to employer National Insurance contributions, into client contracts. This protects both the sustainability of our business and the fairness of our relationships with clients, ensuring that cost pressures are managed transparently and collaboratively rather than absorbed quietly. The directors consider turnover and gross margin to be the primary financial 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, which are set out in the Key Performance Indicators section of this report.
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are confident about the future of Atlas FM Payroll Limited and are excited by the opportunities ahead as part of the wider Atlas FM Group.
Our strategy 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, both culturally and financially, from acquisitions. This capability has become a genuine differentiator for Atlas. We will continue to pursue strategic acquisitions where we can add scale, capability and cultural alignment, building a group that is greater than the sum of its parts. 2. Unlocking growth within our existing customer base We have built an outstanding growth plan focused on realising opportunities for additional services and sites across the 4,000 customers we currently partner with. Alongside this, we continue to target new business within our key sectors, where our reputation for quality, performance and cultural alignment gives us a competitive edge that is difficult to replicate. 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, tracking our journey of high performance and operational excellence. During the year, we introduced Work Chats for all management and administration roles, structured one-to-one conversations powered by the OpenBlend platform that develop capability, support wellbeing and drive accountability at every level of the business. 4. Driving progress on ESG and social impact Our ESG team continues to lead meaningful improvements across environmental and social impact. We have 45 collaborative ESG plans in place with our largest customers and have completed a full review of materials and consumables, consolidating to the most environmentally supportive products across our operations. We published our second annual Carbon Footprint Report during the year, covering our 2024 performance and reporting total market-based emissions of 16,582.90 tCO2e. We have committed to science-based reduction targets aligned to the SBTi 1.5 degrees celsius pathway and align our sustainability activities to the UN Sustainable Development Goals. 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 colleague engagement. During the year we went live with our new finance system, improving operational efficiency and financial insight across the Group. Following the year-end, we have launched the MyAtlas app to all 15,000 colleagues, an internal communications platform with built-in recognition and survey tools and language preferences to ensure accessibility and engagement for our diverse workforce. We are also implementing a new CRM system to further strengthen our business development capability and client insight. These five pillars are not independent workstreams. They reinforce each other. Great acquisitions only create value when there is a great culture to integrate them into. Technology only drives growth when people trust it and use it. And ESG only means something when it is lived, not just reported. 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
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
believe 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.
The directors regularly review the risks facing the business and have established systems and controls to monitor and manage these effectively. Atlas operates in a competitive, labour-intensive industry and is exposed to a range of external and operational risks. The principal risks and uncertainties faced by the company during the year ended 31 December 2025 are set out below:
Wage inflation and legislative change The National Living Wage has continued to rise and remains a significant cost pressure across our industry. We have robust processes to track wage movements, model their financial impact and engage early with clients to negotiate price adjustments. We monitor wider legislative changes, including changes to employer National Insurance contributions, to ensure that any financial impact is anticipated and mitigated in advance. 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 take swift action on any emerging debtor issues. Technology and cyber risk Our reliance on digital systems has increased as we continue to invest in technology across the Group. During the year, we went live with a new finance system, and we are implementing a new CRM system in the period following the year-end. We manage the risks associated with these transitions through careful programme management, phased implementation and thorough testing. More broadly, we manage cyber risk through robust security protocols, regular system testing, staff training and business continuity planning, working 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 our 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 our exposure to price-led competition. Acquisition integration risk Acquisitions are a core part of our growth strategy and we have developed strong capability in identifying, transacting and integrating businesses into the Atlas FM Group. However, the integration of acquired businesses carries inherent risk, including cultural misalignment, operational disruption and financial underperformance against acquisition assumptions. We manage this risk through a structured integration framework, close cultural due diligence prior to transaction and active post-acquisition leadership engagement to ensure every new business becomes genuinely Atlas as quickly as possible. Labour availability Labour availability and recruitment are not currently considered principal risks. Our staff turnover remains low relative to the industry and a high proportion of new colleagues join us through introductions and referrals from existing team members. We believe this reflects the strength of our culture and the reputation Atlas has built as an employer that genuinely looks after its people.
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are fully aware of their duty under section 172 of the Companies Act 2006 to act in good faith in a way most likely to promote the success of the company for the benefit of its members as a whole. In fulfilling this duty, the directors have had regard throughout the year to the long-term consequences of their decisions, the interests of the company's employees, the need to foster relationships with customers and suppliers, the impact of the company's operations on the community and the environment, and the importance of maintaining a reputation for high standards of business conduct. The following sets out how these responsibilities have been discharged in practice during the year ended 31 December 2025.
Our people and employee voice The Atlas Group employs more than 15,000 people across the UK. Our people are not a resource to be managed, they are the business. Every decision the directors make is assessed against its impact on the colleagues who deliver our services every day. During the year we appointed a Director of Culture and Engagement to lead our cultural journey and ensure every colleague feels connected, valued and supported. We launched Wagestream, giving colleagues the ability to access a portion of their earned pay, build savings and access financial wellbeing tools, helping to reduce financial stress and improve resilience. We rolled out Work Chats across the organisation, structured one-to-one conversations between managers and their team members, powered by the OpenBlend platform, focused on wellbeing, values and performance. These are not appraisals. They are genuine conversations, built on trust, that strengthen relationships and embed our culture in the day-to-day life of the business. We celebrate colleagues through our Stars of Atlas recognition programme and actively track engagement through internal communications analytics and regular employee happiness and Net Promoter Score surveys. Following the year-end, we launched the MyAtlas app to all 15,000 colleagues, further strengthening communication, recognition and accessibility across our diverse workforce. Culture and values Culture is our superpower. Our purpose is creating happiness for ourselves and others, and our values shape how we serve our customers and treat each other every single day. We have implemented a Culture Belt framework to help every colleague become a Culture Black Belt, championing our values and inspiring those around them. This is not a programme that sits in an intranet policy document. It is alive in how we hire, how we lead and how we recognise great work. Environment and sustainability We hold ISO 14001 and ISO 27001 certifications and are proud to be EcoVadis Committed. Our sustainability performance is governed and tracked through EcoVadis and Normative, our carbon accounting platform, ensuring continuous improvement, data integrity and transparency. Atlas FM is committed to achieving Net Zero Scope 1 and 2 emissions by 2040 and Net Zero Scope 3 by 2050, in line with our Carbon Reduction Plan published in September 2025 and approved by the Board. Our target is to achieve a fully electric fleet by 2040 and reaching Net Zero Scope 2 through our renewable energy platform. We have committed to science-based reduction targets aligned to the SBTi 1.5 degrees celsius pathway. We align our sustainability activities to the UN Sustainable Development Goals, with a particular focus on four goals that are most directly relevant to our operations: decent work and economic growth; sustainable cities and communities; responsible consumption and production; and climate action. • SDG 8 — Decent Work and Economic Growth: fair treatment of employees, employment opportunities for disadvantaged groups, and responsible supply chain practices. • SDG 11 — Sustainable Cities and Communities: community engagement, social value delivery, and support for local organisations through charitable partnerships.
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
• SDG 12 — Responsible Consumption and Production: consolidation of cleaning products and consumables to the most environmentally supportive options, and our target to achieve zero waste to landfill by 2028.
• SDG 13 — Climate Action: science-based carbon reduction targets, Net Zero commitments, and annual carbon footprint reporting. During the year we reviewed all materials and consumables across our operations, consolidating to the most environmentally supportive products available. We have 45 collaborative ESG plans in place with our largest customers, and we published our second annual Carbon Footprint Report during the year, reporting total market-based emissions of 16,582.90 tCO2e for 2024. Social impact and communities We believe that business has a vital role to play in creating opportunities and lifting communities. We are 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. This is not a corporate social responsibility exercise. It is an expression of who we are and what we believe Atlas is for. Suppliers and customers We select values-aligned suppliers, build long-term relationships and pay suppliers promptly. We work closely with our 4,000 customers to understand their needs, align our services and deliver consistent quality. The average contract length across our largest fifty clients is more than ten years. We believe this exceptional level of client loyalty is the clearest evidence that our approach, putting people, culture and quality at the centre of everything, is the right one. Governance Atlas FM Payroll Limited has its own board of directors, which reports to the Atlas FM Group board. The Group board is responsible for setting strategy, overseeing risk and allocating capital across all subsidiaries, while the Atlas FM Payroll board focuses on operational delivery, people and customer experience. The Group board operates under the Wates Corporate Governance Principles for large private companies, which provide a framework for responsible and transparent governance appropriate to the scale and complexity of the Atlas FM Group. The board meets regularly throughout the year to review financial and operational performance, assess risk, and ensure that strategic priorities are being progressed effectively across the Group. The EOT Trustee Board holds the entire share capital of Atlas FM Group on behalf of all 15,000 employee owners. The Trustee Board operates independently and represents the long-term interests of colleagues across the business, providing an important counterbalance to short-term commercial pressures and ensuring that the values and culture of Atlas are protected as the business grows. Together, these three layers of governance, the Atlas FM Payroll board, the Group board and the EOT Trustee Board provide a structure that balances entrepreneurial drive, cultural stewardship and financial discipline. We believe this is the right governance model for a business of our purpose, our scale and our ambitions. 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. The primary KPIs used by the directors to assess overall business performance are set out below, organised across six pillars. Health, Safety and Compliance The safety and wellbeing of our colleagues is non-negotiable. Our key health, safety and compliance indicators
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
are: RIDDOR incidents; lost time injury frequency rate; and, for our Atlas Workplace Services business, compliance with mandatory accreditations and certifications and performance against statutory, mandatory and planned preventative maintenance obligations.
ESG We measure our environmental and social impact through two indicators: carbon emissions reduction, tracked annually through our Normative carbon accounting platform and reported against our SBTi-aligned reduction targets; and social value delivered, measured using the TOMS framework. These KPIs are reviewed regularly by the directors and senior leadership team. They provide a clear and honest picture of the health and trajectory of the business, ensuring that decisions are informed by cultural, operational and commercial performance in equal measure. Employee Loyalty Our people are the foundation of everything Atlas delivers. We measure employee loyalty through three indicators: staff turnover, monitored continuously and benchmarked against industry norms; staff happiness, assessed through structured monthly surveys and our twice-yearly employee Net Promoter Score surveys. Client Loyalty Long-term client relationships are central to our business model and our culture. We measure client loyalty through three indicators: client retention rate; client satisfaction, measured through our OPS scoring framework; and client Net Promoter Score, measured annually. The average contract length across our largest fifty clients is more than ten years, which we consider the strongest single indicator of the trust our clients place in us. Growth We track growth with a focus on genuine organic expansion rather than price-driven revenue increases. Our key growth indicators are: net organic growth in pounds, including variations but excluding price increases; pipeline size; and conversion rates from pipeline to contracted revenue. Financial Performance Financial performance is reviewed at site, contract, region, sector and Group level through our monthly management accounts. Our primary financial KPIs are turnover, gross margin percentage and EBIT, as set out in the Financial Performance and Resilience section of this report. We also monitor debt levels closely, reflecting our commitment to maintaining a strong and sustainable balance sheet. Going Concern The directors have considered the company's current financial position, forecasts and cash flow projections, taking into account reasonably possible changes in trading performance and the wider economic environment. Atlas FM Payroll Limited operates within the wider Atlas FM Group, which became 100% employee owned in October 2024. The Group has a strong balance sheet, a diversified customer base and a proven record of delivering sustainable growth. The business operates a lean and disciplined financial model, with minimal fixed cost commitments, careful working capital management and strong cash generation. Atlas FM Payroll Limited continues to generate positive cash flows from its operations and has access to appropriate financial resources and support from the Group. The company maintains a prudent approach to cost management and does not carry significant fixed cost obligations or external borrowings. After reviewing the company's forecasts and projections, and having made appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence
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ATLAS FM PAYROLL LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
This report was approved by the board on 19 May 2026 and signed on its behalf.
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ATLAS FM PAYROLL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
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.
The profit for the year, after taxation, amounted to £375 (period ended 31 December 2024 - £(1,500)).
Dividends of £Nil (period ended 31 December 2024 - £Nil) have been declared in the year.
The directors who served during the year were:
Employee involvement The Company recognises the importance of good communications with its employees and considers the most effective form of communication regarding its activities, performance and plans is by way of informal discussions between management and other employees at a local level.
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ATLAS FM PAYROLL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Disabled employees
It is the Company's policy to give disabled people full and fair consideration for all job vacancies for which they offer themselves as suitable candidates, having regard to their particular aptitudes and abilities. Training and career development opportunities are available to all employees and the company endeavours to retrain any member of staff who develops a disability while in the employment of the company. Company's policy for payment of creditors The Group agrees terms and conditions under which the business transactions with suppliers are conducted. It is the Group's policy that payments to suppliers are made in accordance with these terms, provided that the supplier is also complying with all relevant business terms and conditions. The Group's major suppliers are settled within 30 days and the balance paid within 60 days. Matters covered in the Strategic Report The Company has chosen in accordance with section 414C of the Companies Act 2006, to set out financial risk management objectives and policies within the strategic reports. Statement of carbon emissions in compliance with Streamlined Energy and Carbon Reporting ("SECR") The Company is taking exemption from the requirement to include SECR information on the basis that it is a wholly owned subsidiary with a group report disclosed in the group directors' report of Atlas FM Group Limited, the parent company.
The well-being of the Company’s employees is safeguarded through strict adherence to health and safety standards. The Safety, Health and Welfare at Work Act 1989 imposes certain requirements on employers and the Company has taken the necessary action to ensure compliance with the Act, including the adoption of a Safety statement.
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ATLAS FM PAYROLL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
For the financial year ended 31 December 2025, the Company has applied the Wates Corporate Governance Principles for Large Private Companies (published by the Financial Reporting Council) as its corporate governance framework.
The Board considers that the Wates Principles provide a suitable framework for a private company of our size and complexity, and we have adopted them on a voluntary basis to promote transparency and accountability. The Company has considered each of the six Wates Principles in turn: Purpose and Leadership – The Board has established a clear purpose and values for the business, which are embedded into our strategy and communicated to all employees. Board Composition – The Board comprises a mix of executive and non-executive directors with a balance of skills and experience. Regular reviews of board effectiveness and composition are carried out. Director Responsibilities – Directors understand their duties under the Companies Act 2006 and take decisions collectively, supported by robust processes and delegated authorities. Opportunity and Risk – Risk management and internal controls are embedded into the Company’s operations, with regular monitoring by the Board and Audit Committee. Remuneration – The Company has a remuneration policy aligned with long-term business performance and values. Remuneration for directors and key management is overseen by a Remuneration Committee. Post balance sheet events There have been no significant events affecting the Company since the year end.
The auditors, Hillier Hopkins LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 19 May 2026 and signed on its behalf.
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ATLAS FM PAYROLL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS FM PAYROLL LIMITED
We have audited the financial statements of Atlas FM Payroll Limited (the 'Company') for the year ended 31 December 2025, 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 auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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ATLAS FM PAYROLL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS FM PAYROLL LIMITED (CONTINUED)
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.
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.
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.
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ATLAS FM PAYROLL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS FM PAYROLL LIMITED (CONTINUED)
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.
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
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ATLAS FM PAYROLL LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ATLAS FM PAYROLL LIMITED (CONTINUED)
Auditors' 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.
for and on behalf of
Chartered Accountants & Statutory Auditors
Ground floor
45 Pall Mall
London
SW1Y 5JG
19 May 2026
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ATLAS FM PAYROLL LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
REGISTERED NUMBER: 15181418
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2026.
The notes on pages 20 to 30 form part of these financial statements.
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ATLAS FM PAYROLL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Atlas FM Payroll Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Riding Court House, Riding Court Road, Datchet, Slough, Berkshire, England, SL3 9JT.
The principal activity of the Company during the year was the provision of cleaning services.
2.Accounting policies
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.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken exemption from providing a cashflow statement as it is included in the parent company's consolidated financial statements.
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 2025 and these financial statements may be obtained from Riding Court House, Riding Court Road, Datchet, Berkshire, England, SL3 9JT.
The financial statements have been prepared on the going concern basis, which assumes the ability of the Company to continue its activities for the foreseeable future, being a period of not less than twelve months from the date of approval of these accounts.
The Company has a net liability position of £60,819 (31 December 2024 - £1,498). The directors have confirmed that group companies will continue to support the Company as required to allow the Company to continue in operation. As such, the directors are satisfied that the going concern basis is appropriate for the preparation of these financial statements.
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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 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
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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
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
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
Due to the simplicity of the Company's transaction streams and year end financial position. the directors consider there to be no critical judgements estimates or assumptions in the preparation of these financial statements.
Analysis of turnover by country of destination:
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
8.Taxation (continued)
There are no other significant factors which may materially affect future tax charges.
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATLAS FM PAYROLL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
13.Deferred taxation (continued)
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund for the period and amounted to £2,709,587 (period ended 31 December 2024 - £1,699,562). The pension fund balance outstanding at the reporting date was £567,164 (31 December 2024 - £376,881).
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.
The ultimate parent company is Atlas FM Group Limited. The company is incorporated in England and Wales. Atlas FM Limited Group has prepared consolidated group accounts for the year ended 31 December 2025. Consolidated accounts for Atlas FM Group Limited are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ, or the registered office at Riding Court House, Riding Court Road, Datchet, Slough, Berkshire, SL3 9JT. This is the only company in the group which prepares consolidated accounts.
The ultimate controlling party subsequently became
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