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COMPANY REGISTRATION NUMBER: 08261787
Argonaut Associates Limited
Filleted Unaudited Financial Statements
31 October 2021
Argonaut Associates Limited
Statement of Financial Position
31 October 2021
2021
2020
Note
£
£
£
Fixed assets
Tangible assets
5
1,257
774
Current assets
Debtors
6
14,175
15,120
Cash at bank and in hand
73,701
63,944
-------
-------
87,876
79,064
Creditors: amounts falling due within one year
7
62,107
56,293
-------
-------
Net current assets
25,769
22,771
-------
-------
Total assets less current liabilities
27,026
23,545
Provisions
Taxation including deferred tax
239
147
-------
-------
Net assets
26,787
23,398
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
26,786
23,397
-------
-------
Shareholder funds
26,787
23,398
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 3 August 2022 , and are signed on behalf of the board by:
Mr J McWatts
Director
Company registration number: 08261787
Argonaut Associates Limited
Notes to the Financial Statements
Year ended 31 October 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for services provided during the year.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
(f) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
(g) Pension costs
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2020
4,817
4,817
Additions
1,334
1,334
------
------
At 31 October 2021
6,151
6,151
------
------
Depreciation
At 1 November 2020
4,043
4,043
Charge for the year
851
851
------
------
At 31 October 2021
4,894
4,894
------
------
Carrying amount
At 31 October 2021
1,257
1,257
------
------
At 31 October 2020
774
774
------
------
6. Debtors
2021
2020
£
£
Trade debtors
14,175
15,120
-------
-------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
73
Corporation tax
19,469
20,904
Social security and other taxes
8,026
6,928
Other creditors
34,539
28,461
-------
-------
62,107
56,293
-------
-------