| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| LYDIAN U.K. CORPORATION LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| LYDIAN U.K. CORPORATION LIMITED |
| LYDIAN U.K. CORPORATION LIMITED (REGISTERED NUMBER: 11541441) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| LYDIAN U.K. CORPORATION LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Director: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| First Floor, Templeback |
| 10 Temple back |
| Bristol |
| BS1 6FL |
| LYDIAN U.K. CORPORATION LIMITED (REGISTERED NUMBER: 11541441) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| LYDIAN U.K. CORPORATION LIMITED (REGISTERED NUMBER: 11541441) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Lydian U.K. Corporation Limited is a |
| The Company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Lydian U.K. Corporation 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. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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. |
| Classification of financial liabilities |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 September 2023 |
| and 31 August 2024 |
| Net book value |
| At 31 August 2024 |
| At 31 August 2023 |
| LYDIAN U.K. CORPORATION LIMITED (REGISTERED NUMBER: 11541441) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | ULTIMATE CONTROLLING PARTY |
| The company is a wholly owned subsidiary of Lydian Canada Ventures Corporation, a company incorporated in Canada. Their registered office address is Suite 1700, Park Place, 666 Burrand Street, Vancouver, BC V6C 2X8. |
| The smallest group in which the results of the company are consolidated is headed by Lydian Canada Ventures Corporation. |
| The ultimate controlling party is 11910728 Canada Inc, a company incorporated in Canada. |
| 7. | FLOATING CHARGE |
| Orion Co IV (ED) Limited holds a floating charge over the assets of the company in respect of the financing of the Amulsar gold project located in South Central Armenia. This charge was created on 15th October 2019. |