ATEQ UK Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02896068 (England and Wales)

ATEQ UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J M M Mouchet

L B Gerard

SECRETARY:

M A Athersmith

REGISTERED OFFICE:

Unit 71

Heming Road

Washford Industrial Estate

Redditch

Worcestershire

B98 0EA

REGISTERED NUMBER:

02896068 (England and Wales)

SENIOR STATUTORY AUDITOR:

Richard James Beresford

AUDITORS:

Charles Lovell & Co Limited

Chartered Certified Accountants

and Statutory Auditors

8 Church Green East

Redditch

Worcestershire

B98 8BP

FIXED ASSETS

Tangible assets

4

3,738

4,512

CURRENT ASSETS

Stocks

52,141

41,536

Debtors

5

241,460

112,244

Cash at bank

286,957

295,195

580,558

448,975

CREDITORS

Amounts falling due within one year

6

90,620

43,089

NET CURRENT ASSETS

489,938

405,886

TOTAL ASSETS LESS CURRENT LIABILITIES

493,676

410,398

PROVISIONS FOR LIABILITIES

710

857

NET ASSETS

492,966

409,541

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

482,966

399,541

SHAREHOLDERS' FUNDS

492,966

409,541

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 and authorised for issue by the Board of Directors and authorised for issue on 20 March 2023 and were signed on its behalf by:

L B Gerard - Director

1.	STATUTORY INFORMATION

ATEQ UK 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

-

25% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2022

30,260

26,165

11,865

68,290

Additions

2,517

-

354

2,871

At 31 December 2022

32,777

26,165

12,219

71,161

DEPRECIATION

At 1 January 2022

29,410

23,377

10,991

63,778

Charge for year

1,302

1,533

810

3,645

At 31 December 2022

30,712

24,910

11,801

67,423

NET BOOK VALUE

At 31 December 2022

2,065

1,255

418

3,738

At 31 December 2021

850

2,788

874

4,512

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

201,941

97,642

Other debtors

39,519

14,602

241,460

112,244

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

3,017

5,048

Amounts owed to group undertakings

35,427

2,712

Taxation and social security

19,924

14,218

Other creditors

32,252

21,111

90,620

43,089

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard James Beresford (Senior Statutory Auditor)

for and on behalf of Charles Lovell & Co Limited

8.	OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £85,256 (2021 - £82,935).

9.	RELATED PARTY DISCLOSURES

During the year the company had net sales to Ateq S.A, the parent company of £95,882.68 (2021: £127,649.35) and purchases of £195,070.02 (2021: £140,580.18). The company owed to Ateq S.A. £17,579.26 at the balance sheet date (2021: The company was owed from Ateq S. A. £25,677.55).

During the year the company had net purchases of £Nil (2021: £238.24) from Ateq India, an associated company. The company owed Ateq India £nil at the balance sheet date (2021: £Nil).

During the year the company had net purchases of £455.46 (2021: £987.98) from Ateq Canada, an associated company. The company owed Ateq Canada £455.46 at the balance sheet date (2021: £408.10).

During the year the company had net purchases of £Nil (2021: £7,879.43) from Ateq Europe, an associated company. The company owed Ateq Europe £nil at the balance sheet date (2021: £Nil).

During the year the company had net purchases of £3,929.64 (2021: £1,264.44) from Cobra Systems, an associated company. The company owed Cobra Systems £nil at the balance sheet date (2021: £Nil).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is ATEQ, France.