Registered number
03939970
The Argentine Trading Company Ltd
Filleted Accounts
31 March 2024
The Argentine Trading Company Ltd
Registered number: 03939970
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,315 1,196
Current assets
Stocks 179,989 235,391
Debtors 4 16,062 26,845
Cash at bank and in hand 21,185 38,900
217,236 301,136
Creditors: amounts falling due within one year 5 (7,317) (29,693)
Net current assets 209,919 271,443
Net assets 211,234 272,639
Capital and reserves
Called up share capital 2 2
Profit and loss account 211,232 272,637
Shareholder's funds 211,234 272,639
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Maria A Falkinhoff De James
Director
Approved by the board on 20 June 2024
The Argentine Trading Company Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2023 8,470
Additions 1,973
At 31 March 2024 10,443
Depreciation
At 1 April 2023 7,274
Charge for the year 1,854
At 31 March 2024 9,128
Net book value
At 31 March 2024 1,315
At 31 March 2023 1,196
4 Debtors 2024 2023
£ £
Trade debtors 6,992 1,653
Other debtors 9,070 25,192
16,062 26,845
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,602 8,883
Corporation tax 1,756 19,170
Other taxes and social security costs 319 -
Other creditors & accruals 1,640 1,640
7,317 29,693
6 Other information
The Argentine Trading Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
101 Bartholomew Road
London
NW5 2AR
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