Atlas Business Park Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03528147 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ATLAS BUSINESS PARK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D N Kowitz

SECRETARY:

Miss H Hampson

REGISTERED OFFICE:

Atlas Business Park

Rye Harbour Road

Rye

East Sussex

TN31 7TE

REGISTERED NUMBER:

03528147 (England and Wales)

ACCOUNTANTS:

Cassidys Chartered Accountants

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

FIXED ASSETS

Tangible assets

4

4,395,089

4,413,920

CURRENT ASSETS

Debtors

5

2,969,029

115,564

Cash at bank and in hand

91,683

419,315

3,060,712

534,879

CREDITORS

Amounts falling due within one year

6

367,426

206,605

NET CURRENT ASSETS

2,693,286

328,274

TOTAL ASSETS LESS CURRENT LIABILITIES

7,088,375

4,742,194

CREDITORS

Amounts falling due after more than one year

7

(2,152,846

)

-

PROVISIONS FOR LIABILITIES

9

(340,402

)

(337,736

)

NET ASSETS

4,595,127

4,404,458

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

1,341,774

1,341,774

Retained earnings

3,253,253

3,062,584

4,595,127

4,404,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2021 and were signed by:

D N Kowitz - Director

1.	STATUTORY INFORMATION

Atlas Business Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 January 2020

4,250,000

866,692

5,116,692

Additions

2,210

72,119

74,329

Disposals

-

(73,495

)

(73,495

)

At 31 December 2020

4,252,210

865,316

5,117,526

DEPRECIATION

At 1 January 2020

-

702,772

702,772

Charge for year

-

58,588

58,588

Eliminated on disposal

-

(38,923

)

(38,923

)

At 31 December 2020

-

722,437

722,437

NET BOOK VALUE

At 31 December 2020

4,252,210

142,879

4,395,089

At 31 December 2019

4,250,000

163,920

4,413,920

Cost or valuation at 31 December 2020 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2019

1,656,511

-

1,656,511

Cost

2,595,699

865,316

3,461,015

4,252,210

865,316

5,117,526

The valuation of the company's properties at 12 February 2020 was completed by Savills, Chartered Surveyors, on an open market basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

111,261

98,697

Amounts owed by group undertakings

2,842,245

-

Other debtors

15,523

16,867

2,969,029

115,564

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

124,201

-

Trade creditors

37,949

12,730

Taxation and social security

57,377

82,497

Other creditors

147,899

111,378

367,426

206,605

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

2,152,846

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,612,638

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Bank loans

2,277,047

-

The bank loan is secured over the freehold property owned by the company.

9.	PROVISIONS FOR LIABILITIES

31.12.20

31.12.19

£

£

Deferred tax

340,402

337,736

Deferred

tax

£

Balance at 1 January 2020

337,736

Provided during year

2,666

On revaluation

Balance at 31 December 2020

340,402

10.

RESERVES

Revaluation

reserve

£

At 1 January 2020

and 31 December 2020

1,341,774

11.	ULTIMATE CONTROLLING PARTY

The controlling party is KPDC Limited.

The ultimate controlling party is D N Kowitz.