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Registration number: 14231987

African Lithium Resources Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

African Lithium Resources Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

African Lithium Resources Limited

Company Information

Director

Mr A R M Bell

Registered office

Aldwych House
71-91 Aldwych
London
WC2B 4HN

 

African Lithium Resources Limited

(Registration number: 14231987)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

201,760

8,117

Tangible Assets

5

165,196

165,196

 

366,956

173,313

Current assets

 

Debtors

6

732

731

Creditors: Amounts falling due within one year

7

(224,278)

(158,800)

Net current liabilities

 

(223,546)

(158,069)

Total assets less current liabilities

 

143,410

15,244

Creditors: Amounts falling due after more than one year

7

(294,785)

(87,153)

Net liabilities

 

(151,375)

(71,909)

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

632

632

Retained earnings

(152,107)

(72,641)

Shareholders' deficit

 

(151,375)

(71,909)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 April 2025
 

.........................................
Mr A R M Bell
Director

 

African Lithium Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Aldwych House
71-91 Aldwych
London
WC2B 4HN

These financial statements were authorised for issue by the director on 19 April 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.

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

African Lithium Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2023

8,117

8,117

Additions acquired separately

193,643

193,643

At 31 July 2024

201,760

201,760

Amortisation

Carrying amount

At 31 July 2024

201,760

201,760

At 31 July 2023

8,117

8,117

5

Tangible Assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2023

165,196

165,196

At 31 July 2024

165,196

165,196

Depreciation

Carrying amount

At 31 July 2024

165,196

165,196

At 31 July 2023

165,196

165,196

Included within the net book value of land and buildings above is £165,196 (2023 - £165,196) in respect of long leasehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Other debtors

732

731

 

732

731

 

African Lithium Resources Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

224,278

158,800

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other financial liabilities

294,785

87,153

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

224,278

158,800

10

Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is Red Rock Resources Plc, incorporated in the United Kingdom.

The address of Red Rock Resources Plc is:
Salisbury House, London Wall, London, EC2M 5PS