0 0 Arete Exploration Limited 10862351 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is seismic exploration logistics. Digita Accounts Production Advanced 6.30.9574.0 true true 10862351 2023-10-01 2024-09-30 10862351 2024-09-30 10862351 core:CurrentFinancialInstruments 2024-09-30 10862351 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 10862351 bus:SmallEntities 2023-10-01 2024-09-30 10862351 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10862351 bus:FilletedAccounts 2023-10-01 2024-09-30 10862351 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 10862351 bus:RegisteredOffice 2023-10-01 2024-09-30 10862351 bus:CompanySecretary1 2023-10-01 2024-09-30 10862351 bus:Director1 2023-10-01 2024-09-30 10862351 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10862351 bus:Agent1 2023-10-01 2024-09-30 10862351 countries:EnglandWales 2023-10-01 2024-09-30 10862351 2022-10-01 2023-09-30 10862351 2023-09-30 10862351 core:CurrentFinancialInstruments 2023-09-30 10862351 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 xbrli:pure iso4217:GBP

Registration number: 10862351

Arete Exploration Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Arete Exploration Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Arete Exploration Limited

Company Information

Director

Mr H Durham

Company secretary

Mrs N L Durham

Registered office

10 Beech Drive
Llanigon
Hay on Wye
Powys
HR3 5TQ

 

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG


 

Bankers

Lloyds Bank Plc
38 High Street
Brecon
Powys
LD3 7AR

 

Arete Exploration Limited

(Registration number: 10862351)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

529

-

Cash at bank and in hand

 

522

3,664

 

1,051

3,664

Creditors: Amounts falling due within one year

5

(39,226)

(60,706)

Net liabilities

 

(38,175)

(57,042)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(38,275)

(57,142)

Shareholders' deficit

 

(38,175)

(57,042)

For the financial year ending 30 September 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 30 April 2025
 

.........................................
Mr H Durham
Director

 

Arete Exploration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
10 Beech Drive
Llanigon
Hay on Wye
Powys
HR3 5TQ

These financial statements were authorised for issue by the director on 30 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded up to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The company has net current liabilities at the balance sheet date. The director is committed to supporting the company and his loan account will not be repaid until the company has funds available to do so.

Revenue recognition

Turnover represents the value of services supplied. Turnover is recognised once the service has been provided and there is a right to receive payment.

Where a service is incomplete at the year end, turnover represents the value of the service provided to that date, based on an appropriate proportion of the total expected consideration at completion.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business., and are recognised at the transaction price.

 

Arete Exploration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities.

Trade creditors are recognised at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Debtors

Current

2024
£

2023
£

Other debtors

529

-

 

529

-

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,096

576

Other creditors

38,130

60,130

39,226

60,706