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Unaudited Financial Statements for the Year Ended 30 April 2019 |
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Archimedes Ventures Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 April 2019 |
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for |
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Archimedes Ventures Limited |
Archimedes Ventures Limited (Registered number: 08997511) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2019 |
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Page |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Archimedes Ventures Limited |
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Company Information |
for the Year Ended 30 April 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Archimedes Ventures Limited (Registered number: 08997511) |
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Abridged Balance Sheet |
30 April 2019 |
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30.4.19 | 30.4.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Archimedes Ventures Limited (Registered number: 08997511) |
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Abridged Balance Sheet - continued |
30 April 2019 |
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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 on
behalf by: |
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Archimedes Ventures Limited (Registered number: 08997511) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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Archimedes Ventures Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Revenue Recognition |
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Revenue is recognised under an exchange transaction with a customer when, and to the extent that, |
the company receives a right to consideration from its performance. |
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Part completed contracts at the year-end that fulfil the criteria are included in these financial |
statements based on their fair value of the right to consideration at the balance sheet date. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to |
determine whether there is any indication that any items have suffered an impairment loss. If any such |
indication exists, the recoverable amount of an asset is estimated in order to determine the extent of |
the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, |
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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In accordance with Statement of Standard Accounting Practice No. 19, no depreciation is provided in |
respect of investment properties. This is a departure from the requirements of the Companies Act |
1985 which requires all properties to be depreciated. Such properties are not held for consumption but |
for investment and the directors consider that to depreciate them would not give a true and fair view. |
Depreciation is only one of many factors reflected in the annual valuation of properties and |
accordingly the amount of depreciation which might otherwise have been charged cannot be |
separately identified or quantified. The directors consider that this policy results in the accounts |
giving a true and fair view. |
Archimedes Ventures Limited (Registered number: 08997511) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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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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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3. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2018 |
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Additions |
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Disposals | ( |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Archimedes Ventures Limited (Registered number: 08997511) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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5. | ULTIMATE CONTROLLING PARTY |
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