Registration number:
Arete Exploration Limited
for the
Year Ended 30 September 2024
Arete Exploration Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Arete Exploration Limited
Company Information
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Director |
Mr H Durham |
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Company secretary |
Mrs N L Durham |
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Registered office |
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Accountants |
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Bankers |
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Arete Exploration Limited
(Registration number: 10862351)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(38,275) |
(57,142) |
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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:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Arete Exploration Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Debtors |
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Current |
2024 |
2023 |
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Other debtors |
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- |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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