Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 10711159 N A Clarke N M Davis Nicholas Clarke true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10711159 2023-04-30 10711159 2024-04-30 10711159 2023-05-01 2024-04-30 10711159 frs-core:CurrentFinancialInstruments 2024-04-30 10711159 frs-core:Non-currentFinancialInstruments 2024-04-30 10711159 frs-core:SharePremium 2024-04-30 10711159 frs-core:ShareCapital 2024-04-30 10711159 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 10711159 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10711159 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 10711159 frs-bus:SmallEntities 2023-05-01 2024-04-30 10711159 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10711159 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10711159 1 2023-05-01 2024-04-30 10711159 frs-core:CostValuation 2023-04-30 10711159 frs-core:CostValuation 2024-04-30 10711159 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 10711159 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 10711159 frs-bus:Director1 2023-05-01 2024-04-30 10711159 frs-bus:Director2 2023-05-01 2024-04-30 10711159 frs-countries:EnglandWales 2023-05-01 2024-04-30 10711159 2022-04-30 10711159 2023-04-30 10711159 2022-05-01 2023-04-30 10711159 frs-core:CurrentFinancialInstruments 2023-04-30 10711159 frs-core:Non-currentFinancialInstruments 2023-04-30 10711159 frs-core:SharePremium 2023-04-30 10711159 frs-core:ShareCapital 2023-04-30 10711159 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 10711159
Curzon African Holdings Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors N A Clarke
N M Davis
Company Number 10711159
Registered Office Marlborough House
298 Regents Park Road
London
N3 2SZ
Bankers Barclays Bank (Suisse) SA
18 - 20 Chemin de Grange-Canal
Geneva
Switzerland
Solicitors Mishcon de Reya
Africa House
70 Kingsway
London
WC2B 6AH
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Balance Sheet
Registered number: 10711159
2024 2023
Notes $ $ $ $
FIXED ASSETS
Investments 4 5,172,214 5,172,214
5,172,214 5,172,214
CURRENT ASSETS
Debtors 5 17,430,100 13,932,023
Cash at bank and in hand 25,417 382,226
17,455,517 14,314,249
Creditors: Amounts Falling Due Within One Year 6 (170 ) -
NET CURRENT ASSETS (LIABILITIES) 17,455,347 14,314,249
TOTAL ASSETS LESS CURRENT LIABILITIES 22,627,561 19,486,463
Creditors: Amounts Falling Due After More Than One Year 7 (28,328,844 ) (24,950,727 )
NET LIABILITIES (5,701,283 ) (5,464,264 )
CAPITAL AND RESERVES
Called up share capital 8 13 13
Share premium account 3,499,996 3,499,996
Profit and Loss Account (9,201,292 ) (8,964,273 )
SHAREHOLDERS' FUNDS (5,701,283) (5,464,264)
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N A Clarke
Director
27 January 2025
The notes on pages 4 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Curzon African Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10711159 . The registered office is Marlborough House, 298 Regents Park Road, London, N3 2SZ.
The company and its subsidiary undertakings comprise a small-sized group. The company therefore has taken advantage of the exemption provided by section 399 of the Companies Act, 2006 not to prepare group financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared in US$ which is the functional currency of Curzon African Holdings Limited (the 'Company'). The financial statements 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 and the requirements of the Companies Act 2006 as applied to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The principal accounting policies adopted are set out below.
2.2. Foreign Currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2.3. Investments
lnvestments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured al lat value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.4. 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.
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investments
Subsidiaries
$
Cost
As at 1 May 2023 5,172,214
As at 30 April 2024 5,172,214
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 5,172,214
As at 1 May 2023 5,172,214
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The company directly owns 61 .26% of Blackdown Resources (UK) Limited, 100% of Midus Holdings Limited and 100% of Serasolve Holdings Limited whose registered offices are at Marlborough House, 298 Regents Park Road, London, N3 2SZ and 50% of Tyacks Gold Limited, whose registered office is at 10 Chato Street, Regent Estate, Mikocheni, Dar es Salaam, Tanzania.
Through Blackdown Resources (UK) Limited the company indirectly owns 61.26% of Harmony Minerals Limited, whose registered office is at Marlborough House, 298 Regents Park Road, London, N3 2SZ and 61.26% of Dutwa Minerals Limited, Wheal Limited and Kernow Limited whose registered offices are at 10 Chato Street, Regent Estate, Mikocheni, Dar es Salaam, Tanzania.
Through Midus Holdings Limited the company indirectly owns 100% of Midus Global Mining Limited whose registered office is at Marlborough House, 298 Regents Park Road, London, N3 2SZ, 100% of Congo Mining Limited whose registered office is at Villa 100, Agostino Neto Quartier Plateau, Centre-ville, Point-Noire, Congo Republic and 46.05% of Midus Global Limited whose registered office is at Palm Grove House, Road Town, Tortola in the BVI.
5. Debtors
2024 2023
$ $
Due within one year
Other debtors 4,421 4,617
Amounts owed by subsidiaries 1,893,904 1,893,906
1,898,325 1,898,523
Due after more than one year
Other debtors 15,531,775 12,033,500
17,430,100 13,932,023
6. Creditors: Amounts Falling Due Within One Year
2024 2023
$ $
Amounts owed to group undertakings 170 -
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
$ $
Other creditors 28,328,844 24,950,727
8. Share Capital
2024 2023
$ $
Allotted, Called up and fully paid 13 13
9. Related Party Transactions
All purchases from related parties are made at normal market prices. With the exception of the transaction listed below, there have been no transactions with related parties who are not members of the group during the year ended 30 April 2024.
The company had intercompany transactions of $3,241,642 (2023: $382,121) with Curzon Resources Limited during the year, being owed $9,619,715 (2023: $6,378,073) at the year-end.
The company had intercompany transactions of $256,633 (2023: $1,760) with Salkeld Limited during the year, being owed $5,912,060 (2023: $5,655,427) at the year-end.
The company had intercompany transactions of $2,143,485 (2023: $455,486l) with Curzon International Investments Limited during the year, owing $2,598,971 (2023: $455,486) at the year-end.
10. Ultimate Controlling Party
The company's ultimate controlling party is Nicholas Clarke by virtue of his ownership of 100% of the issued share capital in the company.
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