Atlas Refurbishment (Northern) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03403426 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017

FOR

ATLAS REFURBISHMENT (NORTHERN) LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Guest

E Guest

G J Guest

SECRETARY:

E Guest

REGISTERED OFFICE:

Unit 1

Atlas Business Park

Starnhill Close, Ecclesfield

Sheffield

S35 9TG

REGISTERED NUMBER:

03403426 (England and Wales)

ACCOUNTANTS:

Bryan Grey & Co

Broadfield House

18 Broadfield Road

Sheffield

S8 0XJ

FIXED ASSETS

Tangible assets

4

82,830

100,930

CURRENT ASSETS

Stocks

335,010

398,912

Debtors

544,572

736,316

Cash at bank and in hand

421,100

806,239

1,300,682

1,941,467

CREDITORS

Amounts falling due within one year

687,783

894,800

NET CURRENT ASSETS

612,899

1,046,667

TOTAL ASSETS LESS CURRENT LIABILITIES

695,729

1,147,597

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

694,629

1,146,497

SHAREHOLDERS' FUNDS

695,729

1,147,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 20th December 2017 and were signed on its behalf by:

R Guest - Director

E Guest - Director

G J Guest - Director

1.	STATUTORY INFORMATION

Atlas Refurbishment (Northern) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Improvements to leasehold premises

-

10% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value , after making due allowances for obsolete and

slow moving items. Work in progress is valued at cost plus the appropriate proportion of relevant overheads.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

and 31st March 2017

307,578

DEPRECIATION

At 1st April 2016

206,648

Charge for year

18,100

At 31st March 2017

224,748

NET BOOK VALUE

At 31st March 2017

82,830

At 31st March 2016

100,930

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

R and E Guest own the premises from which the company operates. In the year ended 31st March 2017 the

company incurred a rent charge of £18,333 (2016 - £44,000).

6.	RELATED PARTY DISCLOSURES

R and E Guest are directors of The Atlas Holding Company Limited. During the year ended 31st March 2017

this company levied management charges of £132,650 (2016 - £151,667) to Atlas Refurbishment (Northern)

Limited. At 31st March 2017 Atlas Refurbishment (Northern) Limited owed £240,983 (2016 - £108,333) to The

Atlas Holding Company Limited. That company, in turn, owed Atlas Refurbishment (Northern) Limited

£239,663 (2016 - £16,168) in respect of a loan. During the year ended 31st March 2017 Atlas Refurbishment

(Northern) Limited paid dividends of £200,000 (2016 - Nil) to The Atlas Holding Company Limited.