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REGISTERED NUMBER: 12267646 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ARGENTI MOTORSPORT LTD

ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ARGENTI MOTORSPORT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: M R Meadows





REGISTERED OFFICE: 9d Grants Hill Way
Woodford Halse
Daventry
NN11 3UB





REGISTERED NUMBER: 12267646 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 256,505 289,000

CURRENT ASSETS
Stocks 35,000 35,000
Debtors 5 279,455 626,093
Cash at bank 91,456 154,782
405,911 815,875
CREDITORS
Amounts falling due within one year 6 481,688 564,160
NET CURRENT (LIABILITIES)/ASSETS (75,777 ) 251,715
TOTAL ASSETS LESS CURRENT LIABILITIES 180,728 540,715

CREDITORS
Amounts falling due after more than one
year

7

(66,212

)

(121,831

)

PROVISIONS FOR LIABILITIES (42,449 ) (47,115 )
NET ASSETS 72,067 371,769

CAPITAL AND RESERVES
Called up share capital 10 12 12
Share premium 44,998 44,998
Retained earnings 27,057 326,759
SHAREHOLDERS' FUNDS 72,067 371,769

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

BALANCE SHEET - continued
31 OCTOBER 2024


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 12 June 2025 and were signed by:





M R Meadows - Director


ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Argenti Motorsport Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis even though the company has net current liabilities at 31 October 2024 of £75,777 (2023 - net current assets of £251,715).

The validity of the going concern principle is dependent upon the company returning to trade at a profit and on the continued support of its creditors.

If the company was unable to continue trading adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, provide for further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 419,191
Additions 91,950
Disposals (56,569 )
At 31 October 2024 454,572
DEPRECIATION
At 1 November 2023 130,191
Charge for year 96,157
Eliminated on disposal (28,281 )
At 31 October 2024 198,067
NET BOOK VALUE
At 31 October 2024 256,505
At 31 October 2023 289,000

ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 27,757 544,634
Other debtors 251,698 81,459
279,455 626,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts (see note 8) 92,985 105,516
Trade creditors 121,732 282,398
Taxation and social security 2,394 362
Other creditors 253,929 165,236
481,688 564,160

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,969 13,618
Hire purchase contracts (see note 8) 63,243 108,213
66,212 121,831

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 92,985 105,516
Between one and five years 63,243 108,213
156,228 213,729

Non-cancellable operating leases
2024 2023
£    £   
Within one year 24,375 32,500
Between one and five years - 24,375
24,375 56,875

ARGENTI MOTORSPORT LTD (REGISTERED NUMBER: 12267646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase 92,563 123,382

Arkle Finance Limited hold fixed charges over Tattus race cars dated 5 April 2022, 17 May 2022, 9 January 2023 and 5 February 2024.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
177 Ordinary 1p 1p 2 2
600 A Ordinary. 1p 6 6
300 B Ordinary. 1p 3 3
100 C Ordinary. 1p 1 1
12 12