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Financial Statements for the Year Ended 31 December 2020 |
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ATEX EXPLOSION HAZARDS LIMITED |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2020 |
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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 2020 |
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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 2020 |
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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 2020 |
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31.12.20 | 31.12.19 |
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 Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue 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 2020 |
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1. | STATUTORY INFORMATION |
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Atex Explosion Hazards Limited is a
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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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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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Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
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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 2020 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2020 |
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Additions |
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Disposals |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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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 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Amounts owed to participating interests | 160,317 | 50,000 |
Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Amounts owed to participating interests | 160,317 | 300,469 |
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8. | 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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ATEX EXPLOSION HAZARDS LIMITED (REGISTERED NUMBER: 01102876) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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9. | 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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10. | 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. |