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REGISTERED NUMBER: 11541441 (England and Wales)















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: Mr J E Couch





Secretary: Vistra Cosec Limited





Registered office: Suite 1, 7th Floor
50 Broadway
London
SW1H 0BL





Registered number: 11541441 (England and Wales)





Accountants: Vistra Trust Company Limited
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 96,225,300 96,225,300

CURRENT ASSETS
Debtors 5 2 2
Cash at bank 317 413
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,225,619

96,225,715

CAPITAL AND RESERVES
Called up share capital 96,225,302 96,225,302
Retained earnings 317 413
SHAREHOLDERS' FUNDS 96,225,619 96,225,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2025 and were signed by:





Mr J E Couch - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
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 historical cost convention.

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 96,225,300
Net book value
At 31 August 2024 96,225,300
At 31 August 2023 96,225,300

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 2 2

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.