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Financial Statements for the Year Ended 31 December 2018 |
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ATEX EXPLOSION HAZARDS LIMITED |
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REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2018 |
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for |
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ATEX EXPLOSION HAZARDS LIMITED |
ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ATEX EXPLOSION HAZARDS LIMITED |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Century Buildings |
14 St Mary's Parsonage |
Manchester |
M3 2DF |
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BANKERS: |
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P O Box 159 |
55 Sankey Street |
Warrington |
WA1 1XO |
ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Balance Sheet |
31 December 2018 |
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31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Atex Explosion Hazards Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration |
in exchange for its performance of its obligations under the sales contract with the customer. The amount |
reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual |
agreement net of discounts and net of VAT, and after any allowance for credit risk and uncertainties. |
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In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done |
in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and |
contracts for on-going services is recognised by reference to the stage of completion. |
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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Tangible fixed assets are initially recorded at cost. |
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Stocks |
Stock and work in progress is valued at the lower of cost and estimated selling price less costs to sell and after |
making due allowance for obsolete and slow moving stock. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any |
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities, such |
as equity share capital. |
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Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with |
the lessor are charged against profits on a straight line basis over the period of the lease. |
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Provisions |
Provision is made for claims against the company under warranties in the sales contract with customers. The |
amount of the provision is based upon the company's experience of past claims and its knowledge of faults |
claimed in the past and expected claims arising before the company's year end. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2018 |
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Additions |
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Disposals |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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Eliminated on disposal |
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( |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Bank loans |
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Amounts owed to participating interests | 307,854 | 264,599 |
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ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.18 | 31.12.17 |
£ | £ |
Bank loans |
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The bank loan is secured by a mortgage over the company's property. |
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The bank overdraft is guaranteed personally by Mr D Barry. |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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Atex Explosionsschutz GmbH |
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Atex Explosionsschutz GmbH, incorporated in Germany, is the parent company of Atex Explosion Hazards |
Limited by virtue of its ownership of 70% of the issued shares. |
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Explosion Hazards Ireland Limited |
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Explosion Hazards Ireland Limited is a company which is registered in Ireland and which is owned 100% by Mr D |
Barry. Mr D Barry is managing director of Atex Explosion Hazards Limited. |
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Mr D Barry |
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Mr D Barry, the managing director of Atex Explosion Hazards Limited, has given a guarantee limited to £25,000 |
to Barclays Bank PLC as security for the company's overdraft. |
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All transactions between related parties were undertaken at arm's length for bona fide commercial reasons. |
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11. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr F Alfert. |
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The company is a 70% subsidiary of Atex Explosionsschutz GmbH, a company incorporated in Germany, which |
is the controlling party and ultimate parent undertaking. That company is controlled by Franz Alfert, who is a |
director and 100% shareholder. |