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Registered number: 09133112
ATX INDUSTRY UK LTD (FORMERLY BOTH UK LIMITED)
AUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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ATX INDUSTRY UK LTD
REGISTERED NUMBER: 09133112
BALANCE SHEET
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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ATX INDUSTRY UK LTD
REGISTERED NUMBER: 09133112
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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G J Zhu
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The notes on pages 3 to 7 form part of these financial statements.
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ATX INDUSTRY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ATX Industry UK Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 09133112. The address of the registered office during the reporting period was 3rd Floor The Coade, 98 Vauxhall Walk, London, United Kingdom, SE11 5EL.
The Company began undergoing revenue generating activities during the year, incurring costs but no revenue at the reporting date. However, plans are being put in place togenerate revenues in the subsequent reporting period.
2.Accounting policies
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Basis of preparation of financial statements
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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 requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis which assumes that the
Company will continue in operational existence for the foreseeable future.
The Director has a reasonable expectation that the Company has adequate resources to continue its
operations for a period of at least 12 months from the date that the financial statements are
approved. The key method for going concern is through the business planning process which considers profitability, liquidity and solvency. The business planning process considers the Company's business activities, together with factors likely to affect its future development, successful performance and position, and key risks in the current economic climate.
Whilst full financial implications are not yet known, the validity of this assumption depends on the continued support from the Parent Company and the ability to have sufficient working capital in the
foreseeable future.
Should the going concern basis of preparation of the financial statements be found to be inappropriate, should such support be withdrawn by the Parent Company or there was insufficient
working capital for the Company to continue as a going concern, adjustments may have to be made
to reduce the value of assets to their recoverable amount, to provide further liabilities that might arise and to reclassify fixed assets as current assets respectively, the adjustment having a consequent effect on the profit and loss account. It is not practical to quantify these potential adjustments which are not included in these financial statements.
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ATX INDUSTRY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Defined contribution pension plan
The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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ATX INDUSTRY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
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The average monthly number of employees, including directors, during the year was 4 (2024 - 2).
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Charge for the year on owned assets
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ATX INDUSTRY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to other participating interests
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Other taxation and social security
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Accruals and deferred income
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The Company contributes to 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 and amounted to £1,841 (2024 - £300). Contributions totaling £Nil (2024 - Nil) were payable to the fund at the balance sheet date and are included in creditors.
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ATX INDUSTRY UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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At the balance sheet date, a balance of £964,566 (2024: £967,500) was owed to the Company by ATX Lifestyle Pte Ltd, a member of the ATX Holdings Pte Ltd group.
At the balance sheet date, a balance of £11,600 (2024: £11,600) was owed by the Company to ATX Trading Pte Ltd, a member of the ATX Holdings Pte Ltd group.
At the balance sheet date, a balance of £NIL (2024: £2,934) was owed by the Company to Both Boutique Shanghai Co.Ltd, a member of the ATX Holdings Pte Ltd group.
At the balance sheet date, a balance of £232,443 (2024: £53,187) was owed by the Company to G J Zhu, a director of the Company.
At the balance sheet date, a balance of £5,000 (2024: £5,000) was owed by the Company to Zhu & Son Ltd, a Company with common control.
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Post balance sheet events
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There are no significant subsequent events that need to be disclosed or reflected in the annual
accounts.
The parent of the Company during the reporting period was ATX Lifestyle Pte Ltd, a Company incorporated in Singapore. On 1 January 2025 ATX Lifestyle Pte Ltd transferred its entire capital holding of one million Ordinary shares with nominal value of £1 per share, to ATX Industry Pte Ltd, a Company registered in Singapore.
The ultimate parent undertaking is ATX Holding Pte Ltd, a Company incorporated in Singapore and under the control of G J Zhu.The registration number of the ultimate parent undertaking is 200408124G, and its office is 8 Eu Tong Sen Street, #15-88, Singapore, 059818.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
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In their report, the auditors emphasised the following matter without qualifying their report:
IWe draw attention to note 2.2 in the financial statements. Which explains that the financial statements have been prepared on a going concern basis. This is dependent on continued financial support from the parent Company and the availability of sufficient working capital for the foreseeable future. As stated in note 2.2, the Director has a reasonable expectation that such support will continue and that the Company will have adequate resources to meet its obligations as they fall due. Our opinion is not modified in respect of this matter.
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The audit report was signed on 30 September 2026 by Mr Benjamin Matthew Brookes (Senior statutory auditor) on behalf of Wellers Limited.
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