Company Registration No. 10636157 (England and Wales)
ATLANTIC GAS AND POWER LTD
Unaudited accounts
for the year ended 29 February 2020
ATLANTIC GAS AND POWER LTD
Statement of financial position
as at
29 February 2020
Tangible assets
2,623
3,359
Cash at bank and in hand
1,175
6,135
Creditors: amounts falling due within one year
(3,362)
(4,921)
Net current (liabilities)/assets
(2,187)
1,214
Total assets less current liabilities
436
4,573
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
177
4,249
Shareholders' funds
277
4,349
For the year ending 29 February 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 April 2020 and were signed on its behalf by
Mohammed Nana
Director
Company Registration No. 10636157
ATLANTIC GAS AND POWER LTD
Notes to the Accounts
for the year ended 29 February 2020
ATLANTIC GAS AND POWER LTD is a private company, limited by shares, registered in England and Wales, registration number 10636157. The registered office is 450A BRADFORD ROAD, BATLEY, WEST YORKSHIRE, WF17 5LW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents net invoiced sales of services, excluding value added tax.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on reducing balance
Computer equipment
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
ATLANTIC GAS AND POWER LTD
Notes to the Accounts
for the year ended 29 February 2020
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2019
3,250
2,275
5,525
At 29 February 2020
3,250
2,275
5,525
At 1 March 2019
1,170
996
2,166
Charge for the year
416
320
736
At 29 February 2020
1,586
1,316
2,902
At 29 February 2020
1,664
959
2,623
At 28 February 2019
2,080
1,279
3,359
5
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
161
1,346
Other creditors
2,419
2,625
6
Deferred taxation
2020
2019
Accelerated capital allowances
159
224
Provision at start of year
224
313
Credited to the profit and loss account
(65)
(89)
Provision at end of year
159
224
7
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 1 (2019: 2).