UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
ARGENTA SUB-HOLDING LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
ARGENTA SUB-HOLDING LIMITED |
ARGENTA SUB-HOLDING LIMITED (REGISTERED NUMBER: 10830910) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ARGENTA SUB-HOLDING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chancellors House |
3 Brampton Lane |
Hendon |
London |
NW4 4AB |
ARGENTA SUB-HOLDING LIMITED (REGISTERED NUMBER: 10830910) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | € | € | € | € |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital contribution |
Retained earnings | ( |
) | ( |
) |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ARGENTA SUB-HOLDING LIMITED (REGISTERED NUMBER: 10830910) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Argenta Sub-Holding Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company made recurring losses and had significant net current liabilities at the reporting date. Also, at that date, the realisable value of its investments remained uncertain. These conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. However,at the time of approving the financial statements, the director is confident that the company will continue to receive financial support from its parent undertaking and therefore has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of the financial statements. The director therefore continues to adopt the going concern basis of accounting in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Argenta Sub-Holding 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. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ARGENTA SUB-HOLDING LIMITED (REGISTERED NUMBER: 10830910) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
€ | € | € |
COST |
At 1 January 2022 | 5,236,197 |
Disposals | ( |
) | (5,093,637 | ) |
At 31 December 2022 | 142,560 |
PROVISIONS |
At 1 January 2022 | 4,617,740 | 142,560 | 4,760,300 |
Reversal of impairments | (4,617,740 | ) | - | (4,617,740 | ) |
At 31 December 2022 | - | 142,560 | 142,560 |
NET BOOK VALUE |
At 31 December 2022 | - |
At 31 December 2021 | 475,897 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
€ | € |
Amounts owed by group undertakings |
Tax |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
€ | € |
Trade creditors |
Amounts owed to participating interests | 710,000 | 710,000 |
Accruals and deferred income |
7. | ULTIMATE CONTROLLING PARTY |
The company's parent and ultimate parent undertaking is Argenta Holdings Sarl, a company registered in Luxembourg. |