ATOMAR HOLDINGS LIMITED - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 11656128 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

ATOMAR HOLDINGS LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

6

FIXED ASSETS

Tangible assets

5

1,478,025

1,737,206

CURRENT ASSETS

Debtors

6

7,328

99,881

Cash at bank

508,342

200,196

515,670

300,077

CREDITORS

Amounts falling due within one year

7

(10,310

)

(27,133

)

NET CURRENT ASSETS

505,360

272,944

TOTAL ASSETS LESS CURRENT LIABILITIES

1,983,385

2,010,150

PROVISIONS FOR LIABILITIES

(906

)

-

NET ASSETS

1,982,479

2,010,150

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

1,982,279

2,009,950

1,982,479

2,010,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2023 and were signed on its behalf by:

A Oakley - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales with registered company number 11656128. The address of the registered office is 26 Seabridge Road, Newcastle-Under-Lyme. Staffordshire, ST52HT. The principal activity of the company during the year was that of a property lettings.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director has reviewed the company's trading and cash flow position and have provided assurances that they will continue to provide support to the company in order that it may continue its activities, as hitherto. Consequently, the director is of the opinion that the financial statements should be prepared on a going concern basis.

JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior periods.

TANGIBLE FIXED ASSETS

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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

useful life:

Investment property - not depreciated

Motor Vehicles - 25% Reducing Balance

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

CORPORATION TAX

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Investment

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2021

1,730,756

1,100

10,000

1,741,856

Disposals

(257,500

)

-

-

(257,500

)

At 30 November 2022

1,473,256

1,100

10,000

1,484,356

DEPRECIATION

At 1 December 2021

-

275

4,375

4,650

Charge for year

-

275

1,406

1,681

At 30 November 2022

-

550

5,781

6,331

NET BOOK VALUE

At 30 November 2022

1,473,256

550

4,219

1,478,025

At 30 November 2021

1,730,756

825

5,625

1,737,206

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Other debtors

4,833

80,333

Directors' loan accounts

-

17,053

Prepayments

2,495

2,495

7,328

99,881

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Other creditors

3,825

24,113

Directors' loan accounts

4,109

-

Accruals and deferred income

2,376

3,020

10,310

27,133

8.	GOING CONCERN

The director has reviewed the company's trading and cash flow position and have provided assurances that they will continue to provide support to the company in order that it may continue its activities, as hitherto. Consequently, the director is of the opinion that the financial statements should be prepared on a going concern basis.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021:

30.11.22

30.11.21

£

£

A Oakley

Balance outstanding at start of year

17,052

182,005

Amounts advanced

59,860

66,896

Amounts repaid

(81,021

)

(231,849

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(4,109

)

17,052

10.	EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.