Company No: 06821937 (England and Wales)

Contents

• Balance Sheet
• Notes to the Unaudited Financial Statements

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	27,047		702
		27,047		702
Current assets
Debtors	4	37,800		39,583
Cash at bank and in hand		840,258		495,641
		878,058		535,224
Creditors
Amounts falling due within one year	5	( 527,058)		( 311,137)
Net current assets		351,000		224,087
Total assets less current liabilities		378,047		224,789
Creditors
Amounts falling due after more than one year	6	( 144,500)		0
Net assets		233,547		224,789
Capital and reserves
Called-up share capital		14		14
Share premium account		138,589		138,589
Profit and loss account		94,944		86,186
Total shareholders' funds		233,547		224,789

For the financial year ending 31 March 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Atkey and Company Limited (registered number: 06821937) were approved and authorised for issue by the Director on 17 December 2021. They were signed on its behalf by:

Michael John Blakeborough Costello Director

Philip Sebastian Drinkall Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Atkey and Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office 66, Pure Offices Weston Pastures Avenue, St. Georges, Weston-Super-Mare, BS22 7SB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The company recognises revenue when;
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles			25	%	Reducing balance
Fixtures and fittings			4	years	Straight line
Computer equipment			4	years	Straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined contribution pension obligation

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 profit and loss account 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.

Reserves

Called up share capital represents the nominal value of shares that have been issued.

Share premium account includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.

Profit and loss account includes all current and prior period profits and losses.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	6		6

3. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2020	0		8,200		3,783		11,983
Additions	26,507		0		3,532		30,039
At 31 March 2021	26,507		8,200		7,315		42,022
Accumulated depreciation
At 01 April 2020	0		8,200		3,081		11,281
Charge for the financial year	3,313		0		381		3,694
At 31 March 2021	3,313		8,200		3,462		14,975
Net book value
At 31 March 2021	23,194		0		3,853		27,047
At 31 March 2020	0		0		702		702

4. Debtors

	2021		2020
	£		£
Trade debtors	34,084		36,528
Corporation tax	1,176		0
Other debtors	2,540		3,055
	37,800		39,583

5. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans and overdrafts	25,500		0
Trade creditors	60,983		64,660
Other creditors	0		966
Accruals and deferred income	388,911		214,473
Corporation tax	0		12,482
Other taxation and social security	51,664		18,556
	527,058		311,137

6. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	144,500		0

Within bank loans is a balance of £170,000 relating to an outstanding coronavirus business interruption loan. The UK government has guaranteed 100% of the value of this loan as well as agreeing to pay interest and fees for the first 12 months.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2021		2020
	£		£
Bank loans (repayable by instalments)	8,500		0

7. Government grants

Government grants

During the year other income of £3,868 was received from the government under the Coronavirus Job Retention Scheme. In addition a further coronavirus grant of £10,000 was received during the year. The amount of grants recognised in the financial statements was £13,868 (2020 - nil).