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Unaudited Financial Statements |
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for the Year Ended 31 October 2019 |
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for |
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Argentaurum Limited |
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Unaudited Financial Statements |
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for the Year Ended 31 October 2019 |
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for |
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Argentaurum Limited |
Argentaurum Limited (Registered number: 09203227) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Argentaurum Limited |
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Company Information |
for the Year Ended 31 October 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Kepier House |
Belmont Business Park |
Durham |
DH1 1TW |
Argentaurum Limited (Registered number: 09203227) |
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Balance Sheet |
31 October 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Argentaurum Limited (Registered number: 09203227) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2019 |
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1. | STATUTORY INFORMATION |
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Argentaurum Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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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. |
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There were no material departures from that standard. |
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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. |
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Going concern |
The directors assess whether the use of going concern is appropriate i.e. whether there are any material |
uncertainties related to events or conditions that may cast significant doubt on the ability of the company to |
continue as a going concern. The directors make this assessment in respect of a period of at least one year from |
the date the financial statements are approved. |
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At the date of approval, the country and indeed the rest of the world is in the midst of dealing with the Covid-19 |
pandemic. The company has taken steps to deal with the financial impact of this, including taking advantage of |
grants and other support available. Whilst there is uncertainty around the length of time the Covid-19 pandemic |
will last and the full impact on the global economy, the directors believe that it is appropriate to continue to |
adopt the going concern basis of accounting in preparing the financial statements due to the levels of reserves |
and potential financial support available. |
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The financial statements are prepared on the going concern basis which assumes that the company will continue |
to trade. However, the validity of the going concern basis is dependent upon the company's ability to continue to |
operate with the support of the directors and the group. If the company is unable to continue to trade, |
adjustments would be required to reduce the value of assets to their recoverable amount, to provide for any |
further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and |
liabilities. |
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Preparation of consolidated financial statements |
The financial statements contain information about Argentaurum Limited as an individual company and do not |
contain consolidated financial information as the parent of a group. The company is exempt under Section |
399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less impairment. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Argentaurum Limited (Registered number: 09203227) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2018 |
and 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed by group undertakings |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other loans |
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Amounts owed to group undertakings |
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Other creditors |
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Directors' current accounts | 21,514 | 63,938 |
Accruals and deferred income |
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Argentaurum Limited (Registered number: 09203227) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 2,400 | 2,400 |
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8. | RELATED PARTY DISCLOSURES |
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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, nor transactions conducted at market rate. |
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There were no related party transactions other than those concluded under normal market conditions other than |
those detailed below: |
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2019 | 2018 |
£ | £ |
Amounts owed to directors | 21,514 | 63,938 |
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Other amounts owed to shareholders | 19,153 | 58,865 |
No interest has been charged. |