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REGISTERED NUMBER: 11421990 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Orca Gold Management Services Limited

Orca Gold Management Services Limited (Registered number: 11421990)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Orca Gold Management Services Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: J A Quartermaine
J F McGloin





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
CV3 1JN





REGISTERED NUMBER: 11421990 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Orca Gold Management Services Limited (Registered number: 11421990)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
CURRENT ASSETS
Debtors 4 - 70,318
Cash at bank - 40,998
- 111,316
CREDITORS
Amounts falling due within one year 5 - 3,083,689
NET CURRENT LIABILITIES - (2,972,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

(2,972,373

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1 ) (2,972,374 )
- (2,972,373 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




J A Quartermaine - Director



J F McGloin - Director


Orca Gold Management Services Limited (Registered number: 11421990)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Orca Gold Management Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 NIL (2022 - 4 ).

Orca Gold Management Services Limited (Registered number: 11421990)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Amounts owed by group undertakings - 66,296
Other debtors - 4,022
- 70,318

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors - 567
Amounts owed to group undertakings - 3,078,848
Other creditors - 4,274
- 3,083,689

6. RELATED PARTY DISCLOSURES

As disclosed at Note 5. above, during the financial year as part of the sale of the company to Perseus Mining Ltd, the following outstanding intercompany balances were written off under a deed of release dated 30.06.23:

- £1,226,713 owed to Perseus Mining Limited.

- £6,922 owed by Meyas Sand Minerals.

- £84,450 owed by Orca Gold DMCC.

- £1,851,790 owed to Orca Gold inc

7. POST BALANCE SHEET EVENTS

Following the balance sheet date the company was placed into Creditors Voluntary Liquidation.

8. ULTIMATE PARENT COMPANY

The ultimate parent company is Perseus Mining Limited, a company registered in Australia, following the sale of Orca Gold Inc on 19/05/2022.

9. SHARE-BASED PAYMENT TRANSACTIONS

Orca Gold Inc, a Canadian public listed company operated a share option scheme which allowed directors, certain officers and consultants the opportunity to participate in the potential future success of the company. Following the sale of Orca Gold Inc to Perseus Mining Limited on 19/05/2022, the share option scheme was crystalized and subsequently closed.

No expense has been recognised in respect of these share options.