2023-04-012024-02-292024-02-29false00952260ARGO FLARE SERVICES 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ARGO FLARE SERVICES LIMITED

Registered Number
00952260
(England and Wales)

Unaudited Financial Statements for the Period ended
29 February 2024

ARGO FLARE SERVICES LIMITED
Company Information
for the period from 1 April 2023 to 29 February 2024

Directors

Alistair Duncan John Blest
Raymond Leslie Seale
Paul Colin George Sharman
Andrew Gordon Tallentire

Registered Address

43 High Street
Marlow
SL7 1BA

Registered Number

00952260 (England and Wales)
ARGO FLARE SERVICES LIMITED
Balance Sheet as at
29 February 2024

Notes

29 Feb 2024

31 Mar 2023

£

£

£

£

Fixed assets
Tangible assets3-3,224
-3,224
Current assets
Stocks4-903,148
Debtors1,038,391515,737
Cash at bank and on hand686,777764,695
1,725,1682,183,580
Creditors amounts falling due within one year6(516,709)(1,968,243)
Net current assets (liabilities)1,208,459215,337
Total assets less current liabilities1,208,459218,561
Net assets1,208,459218,561
Capital and reserves
Called up share capital1,0001,000
Share premium(250,000)-
Profit and loss account1,457,459217,561
Shareholders' funds1,208,459218,561
The financial statements were approved and authorised for issue by the Board of Directors on 27 March 2024, and are signed on its behalf by:
Alistair Duncan John Blest
Director
Registered Company No. 00952260
ARGO FLARE SERVICES LIMITED
Notes to the Financial Statements
for the period ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by share capital, incorporated in England & Wales. The address of its registered office is: 43 High Street Marlow Buckinghamshire SL7 1BA These financial statements were authorised for issue by the Board on 12 May 2023.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue from sale of goods
Revenue comprises the fair value of the sale of goods and services, net of value added tax, rebates and discounts. Revenue is recognised at the point of delivery of the goods or service and when the transfer of economic benefit to the company is highly probable.
Employee benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Foreign currency translation
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Current taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Straight line (years)
Plant and machinery5
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 2326,53651,42077,956
Disposals(26,536)(51,420)(77,956)
Depreciation and impairment
At 01 April 2326,53648,19674,732
On disposals(26,536)(48,196)(74,732)
Net book value
At 29 February 24---
At 31 March 23-3,2243,224
4.Stocks

2024

2023

££
Work in progress-903,148
Total-903,148
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables33,921380,437
Amounts owed by group undertakings999999
Other debtors1,003,47152,717
Prepayments and accrued income-80,043
Deferred tax asset, debtors-1,541
Total1,038,391515,737
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables29,769120,861
Taxation and social security484,287113,666
Other creditors2,653999
Accrued liabilities and deferred income-1,732,717
Total516,7091,968,243
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.