Registered number |
Registered number: | |||||||
Statement of Financial Position | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholder's funds | |||||||
T J Barton White | |||||||
Director | |||||||
Approved by the board on |
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The notes on pages 9 to 13 form part of these Financial Statements. | |||||||
Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The following principal accounting policies have been applied: | ||||||||
Going concern | ||||||||
The Company is entirely dependent on its parent company for its income. The Company's Statement of Financial Position as at 31 December 2023 and 2022 shows that the Company was clearly solvent with the ability to pay all its debts as they fell due. The parent company has access to banking and other finance facilities however to aid its working capital and financing requirements. The Director can confirm that the Company currently has sufficient resources to meet its debts as they fall due and he therefore considers that the Company is a going concern and has prepared the Financial Statements on that basis. |
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Revenue | ||||||||
Rendering of services | ||||||||
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: | ||||||||
● the amount of revenue can be measured reliably; | ||||||||
● it is probable that the Company will receive the consideration due under the contract; | ||||||||
● the stage of completion of the contract at the end of the reporting period can be measured | ||||||||
reliably, and; | ||||||||
● the costs incurred and the costs to complete the contract can be measured reliably. | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
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Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. | ||||||||
Foreign currency translation | ||||||||
The Company's functional and presentational currency is UK Pound Sterling. 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. |
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Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges. | ||||||||
Operating leases: the company as a lessee | ||||||||
Pensions | ||||||||
The Company operates 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. |
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2 | Audit information and auditor's remuneration | 2023 | 2022 | |||||
£ | £ | |||||||
Fees payable to the Company's auditor for the audit of the Company's annual financial statements totalled | 3,800 | 3,800 | ||||||
3,800 | 3,800 | |||||||
Senior statutory auditor: | ||||||||
Firm: | ||||||||
Date of audit report: | ||||||||
3 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Director's remuneration | 2023 | 2022 | |||||
£ | £ | |||||||
Director's emoluments | 148,503 | 135,003 | ||||||
148,503 | 135,003 | |||||||
5 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Share capital | 2023 | 2022 | |||||
£ | £ | |||||||
Allotted, called up and fully paid: | ||||||||
Ordinary shares of £1 each | 100 | 100 | ||||||
100 | 100 | |||||||
8 | Other financial commitments | |||||||
At 31 December 2023, the Company had future minimum lease payments under non-cancellable operating leases as follows: | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Not later than one year | 21,000 | 10,500 | ||||||
Later than one year and not later than five years | - | |||||||
52,500 | 10,500 | |||||||
9 | Related party transactions | |||||||
10 | Controlling party | |||||||
11 | Other information | |||||||
ATC Services (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
23 Shackleton Court | ||||||||
2 Maritime Quay | ||||||||
London | ||||||||
E14 3QF |