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REGISTERED NUMBER: 06592922 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

ARG IT LIMITED

ARG IT LIMITED (REGISTERED NUMBER: 06592922)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ARG IT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: A B Byrne
S Byrne





REGISTERED OFFICE: 89 Buckingham Road
Shoreham By Sea
West Sussex
BN43 5UD





REGISTERED NUMBER: 06592922 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

ARG IT LIMITED (REGISTERED NUMBER: 06592922)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,384 6,087

CURRENT ASSETS
Debtors 5 55,142 45,692
Cash at bank 99 39
55,241 45,731
CREDITORS
Amounts falling due within one year 6 20,333 13,574
NET CURRENT ASSETS 34,908 32,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,292

38,244

PROVISIONS FOR LIABILITIES 7 1,072 1,154
NET ASSETS 39,220 37,090

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,120 36,990
SHAREHOLDERS' FUNDS 39,220 37,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





A B Byrne - Director


ARG IT LIMITED (REGISTERED NUMBER: 06592922)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

ARG IT Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents revenue recognised in the accounts excluding value added tax. Services are performed gradually over time so revenue is recognised as the company fulfils its contractual obligations and activity progresses by reference to the value of work performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% straight line
Bicycle - 25% on reducing balance
Computer equipment - 33% straight line

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ARG IT LIMITED (REGISTERED NUMBER: 06592922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings Bicycle equipment Totals
£    £    £    £   
COST
At 1 June 2022 1,650 5,664 8,954 16,268
Additions - - 3,221 3,221
Disposals - - (6,699 ) (6,699 )
At 31 May 2023 1,650 5,664 5,476 12,790
DEPRECIATION
At 1 June 2022 1,275 2,350 6,556 10,181
Charge for year 375 829 2,445 3,649
Eliminated on disposal - - (6,424 ) (6,424 )
At 31 May 2023 1,650 3,179 2,577 7,406
NET BOOK VALUE
At 31 May 2023 - 2,485 2,899 5,384
At 31 May 2022 375 3,314 2,398 6,087

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,042 10,692
Other debtors 25,100 35,000
55,142 45,692

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 16,790 10,619
Other creditors 3,543 2,955
20,333 13,574

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,072 1,154

Deferred
tax
£   
Balance at 1 June 2022 1,154
Movement in year (82 )
Balance at 31 May 2023 1,072

8. RELATED PARTY DISCLOSURES

Included in other debtors is a loan to Dukey Limited of £25,100 (2022: £35,000), A B Byrne and S Byrne are directors of both Dukey Limited and ARG IT Limited.

ARG IT LIMITED (REGISTERED NUMBER: 06592922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


9. ULTIMATE CONTROLLING PARTY

During the year the company was under the control of A B Byrne and S Byrne, the directors of the company.