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Registration number: 03279510

Argent of London Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Argent of London Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Argent of London Limited

Company Information

Directors

Mr Michael J. Goodrich

Mrs Jennifer Gail Terry Goodrich

Company secretary

Mrs Jennifer Gail Terry Goodrich

Registered office

37 Eglantine Road
Wandsworth
London
SW18 2DE

Accountants

Robert A Harris & Co Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

 

Chartered Management Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Argent of London Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Argent of London Limited for the year ended 30 April 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements. Details of these can be found at www.aicpa-cima.com

This report is made solely to the Board of Directors of Argent of London Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Argent of London Limited and state those matters that we have agreed to state to the Board of Directors of Argent of London Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Argent of London Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Argent of London Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Argent of London Limited. You consider that Argent of London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Argent of London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

24 January 2025

 

Argent of London Limited

(Registration number: 03279510)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

6,000

Current assets

 

Stocks

5

21,927

20,666

Debtors

6

5,126

11,575

Cash at bank and in hand

 

33,291

32,895

 

60,344

65,136

Creditors: Amounts falling due within one year

7

(5,131)

(3,517)

Net current assets

 

55,213

61,619

Net assets

 

55,213

67,619

Capital and reserves

 

Called up share capital

8

15,850

15,850

Share premium reserve

61,750

61,750

Revaluation reserve

-

2,099

Retained earnings

(22,387)

(12,080)

Shareholders' funds

 

55,213

67,619

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

 

Argent of London Limited

(Registration number: 03279510)
Balance Sheet as at 30 April 2024

.........................................
Mr Michael J. Goodrich
Director

.........................................
Mrs Jennifer Gail Terry Goodrich
Company secretary and director

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
37 Eglantine Road
Wandsworth
London
SW18 2DE

These financial statements were authorised for issue by the Board on 24 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

The directors consider the asset values at the start of the year reflect their fair value. As a result no revaluation was needed to be applied to reflect their fair value and no depreciation has been provided this year.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, Depreciation is charged as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% on reducing balance

Office equipment

25% on reducing balance

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

74,587

74,587

Revaluations

(2,099)

(2,099)

At 30 April 2024

72,488

72,488

Depreciation

At 1 May 2023

68,587

68,587

Charge for the year

3,901

3,901

At 30 April 2024

72,488

72,488

Carrying amount

At 30 April 2024

-

-

At 30 April 2023

6,000

6,000

5

Stocks

2024
£

2023
£

Other inventories

21,927

20,666

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,869

1,500

Other debtors

3,257

10,075

 

5,126

11,575

7

Creditors

Creditors: amounts falling due within one year

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Due within one year

Trade creditors

1,440

1,440

Taxation and social security

821

-

Accruals and deferred income

1,050

-

Other creditors

1,820

2,077

5,131

3,517

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

15,850

15,850

15,850

15,850

       

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(2,099)

(2,099)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

10

Related party transactions

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023

Transactions with directors

Loans to related parties

 

Argent of London Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

Key management
£

Total
£

At start of period

1,036

1,036

Repaid

(1,036)

(1,036)

At end of period

-

-

Terms of loans to related parties

The loans to the directors are made on the basis they are interest free and repayable on demond.
 

11

Parent and ultimate parent undertaking

The company is controled by Mr M J Goodrich and Mrs J G T Goodrich by virtue of their combined holding of 79.5% of the issued share capital.

 The ultimate controlling party is Mr M J Goodrich and Mrs J G T Goodrich.