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REGISTERED NUMBER: SC236601 (Scotland)












Financial Statements

for the Year Ended 31 March 2024

for

Argyll International Limited

Argyll International Limited (Registered number: SC236601)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Argyll International Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dr T Campbell
Miss C Morning





SECRETARY: Miss C Morning





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC236601 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Argyll International Limited (Registered number: SC236601)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500,681 501,362
Property, plant and equipment 5 300,484 569
801,165 501,931

CURRENT ASSETS
Inventories 7,286,452 6,996,601
Debtors 6 51,035 56,501
Cash at bank 1,881 20,422
7,339,368 7,073,524
CREDITORS
Amounts falling due within one year 7 7,654,321 7,235,015
NET CURRENT LIABILITIES (314,953 ) (161,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,212

340,440

CREDITORS
Amounts falling due after more than one year 8 (29,376 ) (46,769 )

PROVISIONS FOR LIABILITIES (92 ) -
NET ASSETS 456,744 293,671

CAPITAL AND RESERVES
Called up share capital 23 23
Share premium 54,500 54,500
Revaluation reserve 9 487,114 325,000
Retained earnings (84,893 ) (85,852 )
SHAREHOLDERS' FUNDS 456,744 293,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Argyll International Limited (Registered number: SC236601)

Statement of Financial Position - continued
31 March 2024


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 20 August 2024 and were signed on its behalf by:





Miss C Morning - Director


Argyll International Limited (Registered number: SC236601)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Argyll International Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover for the moment is mainly derived from the issue of Energy Performance Certificates, excluding value added tax and trade discounts.

Goodwill
The directors do not consider it to be appropriate to amortise the goodwill as the actual value of goodwill would be considerably more than the cost value shown in the accounts.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Inventories
While inventories are included in the financial statements at the lower of cost and net realisable value, the directors consider that the value of the South African project at the stage of completion at the date of these financial statements amounted to approximately £20m.

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 statement of financial position date.


Argyll International Limited (Registered number: SC236601)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 500,000 6,810 506,810
AMORTISATION
At 1 April 2023 - 5,448 5,448
Amortisation for year - 681 681
At 31 March 2024 - 6,129 6,129
NET BOOK VALUE
At 31 March 2024 500,000 681 500,681
At 31 March 2023 500,000 1,362 501,362

Argyll International Limited (Registered number: SC236601)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 - 2,240 1,351 22,245 25,836
Additions 137,886 - - - 137,886
Revaluations 162,114 - - - 162,114
At 31 March 2024 300,000 2,240 1,351 22,245 325,836
DEPRECIATION
At 1 April 2023 - 2,034 988 22,245 25,267
Charge for year - 31 54 - 85
At 31 March 2024 - 2,065 1,042 22,245 25,352
NET BOOK VALUE
At 31 March 2024 300,000 175 309 - 300,484
At 31 March 2023 - 206 363 - 569

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2024 162,114 - - - 162,114
Cost 137,886 2,240 1,351 22,245 163,722
300,000 2,240 1,351 22,245 325,836

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 50,627 52,697
Other debtors 408 3,804
51,035 56,501

Argyll International Limited (Registered number: SC236601)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,508 20,107
Trade creditors 13,933 15,919
Taxation and social security 10,223 14,734
Other creditors 7,624,657 7,184,255
7,654,321 7,235,015

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,508 8,769
Other creditors 23,868 38,000
29,376 46,769

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 325,000
Land revaluation 162,114

At 31 March 2024 487,114

10. RELATED PARTY DISCLOSURES

There is a balance owed to the directors of £590,139 (2023 - £148,657) as at 31st March 2024. No interest was charged on this balance and there are no formal repayment terms.