for the Period Ended 31 December 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 December 2023
Principal activities of the company
Additional information
The Company purchased 100% of the shares of Spin Mining and Metals Zambia limited during the year. The Company accrued revenue from a mineral transaction of £80,000 during the year in Zambia. There is the potential for legal action against the Zambian fully owned subsidiary for £85,000 including legal costs due to a stock of minerals belonging to a client being stolen. There are police reports and evidence of the loss. The Directors consider it prudent to reserve against the potential full loss that the Zambian subsidiary may suffer if legal action is successfully taken against the Zambian Company. The Company is also currently carrying out mineral trading. There are unrealised profits on mining trading of £873,016 which have not been accounted for as the value is uncertain until the trade is completed.The accounts have been prepared by Teale Business Services on the basis of information including financial data provided by the Director(s). The Director(s) acknowledge their responsibilities for complying with the companies act 2006 with respect to accounting records and the preparation of accounts. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Directors
The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2023 | 2022 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | |
Gross profit(or loss): | ( | |
Administrative expenses: | ( | |
Operating profit(or loss): | ( | |
Profit(or loss) before tax: | ( | |
Profit(or loss) for the financial year: | ( | |
As at
Notes | 2023 | 2022 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Investments: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | |
Net current assets (liabilities): | ( | | |
Total assets less current liabilities: | ( | | |
Creditors: amounts falling due after more than one year: | 6 | ( | |
Total net assets (liabilities): | ( | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ||
Total Shareholders' funds: | ( | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 December 2023
Basis of measurement and preparation
for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 December 2023
The investment of £1 represents the purchase of 100% of the shares of Spin Mining and Metals Zambia Limited
for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Total | | |
for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Accruals and deferred income | | |
Total | | |
for the Period Ended 31 December 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Other creditors | | |
Total | | |
for the Period Ended 31 December 2023