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REGISTERED NUMBER: 02977687 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

African Explorations Limited

African Explorations Limited (Registered number: 02977687)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


African Explorations Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: O R T Corkhill
C A Van Zyl





REGISTERED OFFICE: 5 Priory Court
Poulton
Cirencester
GL7 5JB





REGISTERED NUMBER: 02977687 (England and Wales)





ACCOUNTANTS: EWP Limited
20 Anchor Terrace
3-13 Southwark Bridge Road
London
SE1 9HQ

African Explorations Limited (Registered number: 02977687)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,333 -
Tangible assets 5 22,194 3,169
35,527 3,169

CURRENT ASSETS
Debtors 6 3,952,686 6,066,849
Cash at bank and in hand 1,592,462 2,472,931
5,545,148 8,539,780
CREDITORS
Amounts falling due within one year 7 5,059,549 8,284,441
NET CURRENT ASSETS 485,599 255,339
TOTAL ASSETS LESS CURRENT
LIABILITIES

521,126

258,508

CREDITORS
Amounts falling due after more than one year 8 120,833 170,833
NET ASSETS 400,293 87,675

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 390,293 77,675
400,293 87,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

African Explorations Limited (Registered number: 02977687)

Balance Sheet - continued
30 April 2023


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 19 January 2024 and were signed on its behalf by:





O R T Corkhill - Director


African Explorations Limited (Registered number: 02977687)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

African Explorations 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years

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.

African Explorations Limited (Registered number: 02977687)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 20,000
At 30 April 2023 20,000
AMORTISATION
Charge for year 6,667
At 30 April 2023 6,667
NET BOOK VALUE
At 30 April 2023 13,333

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 4,751
Additions 30,913
At 30 April 2023 35,664
DEPRECIATION
At 1 May 2022 1,582
Charge for year 11,888
At 30 April 2023 13,470
NET BOOK VALUE
At 30 April 2023 22,194
At 30 April 2022 3,169

African Explorations Limited (Registered number: 02977687)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 1,553,431 2,523,757
Other debtors 2,399,255 3,543,092
3,952,686 6,066,849

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 1,390,576 1,684,185
Amounts owed to group undertakings - 550,000
Taxation and social security 70,490 31,749
Other creditors 3,548,483 5,968,507
5,059,549 8,284,441

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 120,833 170,833