Company registration number: 06254134
Unaudited financial statements
for the year ended 31 May 2024
for
Argonaut Systems Ltd
Pages for filing with the Registrar
Company registration number: 06254134
Argonaut Systems Ltd
Balance sheet
as at 31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 632,500 600,000
Tangible assets 5 1,203 1,203
633,703 601,203
Current assets
Debtors 61,141 18,389
Cash at bank and in hand 9,712 66,824
70,853 85,213
Creditors: amounts falling due within one
year
(60,614) (64,945)
Net current assets 10,239 20,268
Total assets less current liabilities 643,942 621,471
Creditors: Amounts falling due after more
than one year
(68,229) (67,703)
NET ASSETS 575,713 553,768
Capital and reserves
Called up share capital 500 500
Share premium account 5,500 5,500
Revaluation reserve 585,000 585,000
Profit and loss account (15,287) (37,232)
TOTAL EQUITY 575,713 553,768
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 May 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 06254134
Argonaut Systems Ltd
Balance sheet - continued
as at 31 May 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 26 February 2025 and signed on its behalf by:
Mr S Coleman, Director
26 February 2025
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Argonaut Systems Ltd
Notes to the financial statements
for the year ended 31 May 2024
1 Company information
Argonaut Systems Ltd is a private company registered in England and Wales. Its registered number is 06254134. The company is limited by shares. Its registered office is Floor 2 Capital Tower, Greyfriars Road, Cardiff, South Glamorgan, CF10 3AG.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Goodwill -
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Fixtures & fittings -
Computer equipment -
3
Argonaut Systems Ltd
Notes to the financial statements - continued
for the year ended 31 May 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was (2023 - ).
4 Intangible assets
Goodwill
£
Cost
At 1 June 2023 600,000
Additions 32,500
At 31 May 2024 632,500
Amortisation
At 31 May 2024 -
Net book value
At 31 May 2024 632,500
At 31 May 2023 600,000
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Argonaut Systems Ltd
Notes to the financial statements - continued
for the year ended 31 May 2024
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 June 2023 22,241
At 31 May 2024 22,241
Depreciation
At 1 June 2023 21,038
At 31 May 2024 21,038
Net book value
At 31 May 2024 1,203
At 31 May 2023 1,203
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