REGISTERED NUMBER: |
Financial Statements For The Year Ended 30 November 2024 |
for |
Argyle Consulting Limited |
REGISTERED NUMBER: |
Financial Statements For The Year Ended 30 November 2024 |
for |
Argyle Consulting Limited |
Argyle Consulting Limited (Registered number: SC179496) |
Contents of the Financial Statements |
For The Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Argyle Consulting Limited |
Company Information |
For The Year Ended 30 November 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants & Statutory Auditors |
Regent Court |
70 West Regent Street |
Glasgow |
G2 2QZ |
Argyle Consulting Limited (Registered number: SC179496) |
Statement of Financial Position |
30 November 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
Argyle Consulting Limited (Registered number: SC179496) |
Statement of Financial Position - continued |
30 November 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements |
For The Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
Argyle Consulting Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Argyle Consulting Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Tangible fixed assets |
Improvements to property | - |
Fixed plant and equipment | - |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Fair value measurement of financial instruments |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Employee benefits |
The costs of short-term employee benefits are recognised as a liability and an expense. |
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
Fixed asset investments |
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixed |
to | plant and |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2023 |
Additions |
At 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
5. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 December 2023 | 776,085 |
Additions | 508,682 |
Disposals | ( |
) | (139,097 | ) |
Revaluations | 143,486 |
At 30 November 2024 | 1,289,156 |
NET BOOK VALUE |
At 30 November 2024 | 1,289,156 |
At 30 November 2023 | 776,085 |
Cost or valuation at 30 November 2024 is represented by: |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2024 | 1,286,299 | 2,857 | 1,289,156 |
Name of undertaking | Registered office | Class of shares held | % Held Direct |
ACL Trustees Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Consulting Group Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Financial Services Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Consultants Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Financial Group Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Wealth Management Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Investments Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
Argyle Private Office Limited | 239 St Vincent Street, Glasgow | Ordinary | 100.00 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts |
Deferred tax asset | - | 5,169 |
Prepayments and accrued income |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Argyle Consulting Limited (Registered number: SC179496) |
Notes to the Financial Statements - continued |
For The Year Ended 30 November 2024 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The company extended a loan to one of its directors at an amount of £150,000 during the year. Interest is charged at the rate of 2.25% under the terms of the loan. The outstanding balance at the year end is £77,209. |
12. | RELATED PARTY DISCLOSURES |
During the year dividends of £329,656 (2023: £nil) were paid to four (2023: nil) shareholders, who are also directors, respectively. |
During the year dividends of £70,344 (2023: £nil) were paid to two (2023: nil) shareholders who are related parties of the company as they are family members of shareholders who are also directors. |
The company incurred expenditure of £110,000 (2023: £110,000) in relation to office rent paid to the pension fund of which two directors, are also members. The rent is charged at market value. |
The company incurred expenditure of £12,000 (2023: £12,000) in relation to car park rent paid to the pension fund of which two directors, are also members. The rent is charged at market value. |
13. | NON-AUDIT SERVICES PROVIDED BY AUDITOR |
In common with other companies of our size we use our auditor to assist with the preparation of the financial |
statements. |
14. | ULTIMATE CONTROLLING PARTY |
15. | SHARE PREMIUM ACCOUNT |
This reserve records the amount above the nominal value received for shares sold, less transaction costs. |
16. | CAPITAL REDEMPTION RESERVE |
The capital redemption reserve relates to the equity component of shares bought back by the company in the current year and in prior years. |
17. | PROFIT AND LOSS RESERVES |
The Profit and Loss account includes all current and prior year retained profits or losses less dividends paid. |