Acorah Software Products - Accounts Production 16.2.850 false true 31 October 2023 27 October 2022 false 1 November 2023 31 December 2024 31 December 2024 14447017 Mr Luis da Silva Mr Kieran Daly Ms Pekka Nurmi Ms Eeva Ruokonen Mr Owen Ryan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14447017 2023-10-31 14447017 2024-12-31 14447017 2023-11-01 2024-12-31 14447017 frs-core:CurrentFinancialInstruments 2024-12-31 14447017 frs-core:Non-currentFinancialInstruments 2024-12-31 14447017 frs-core:SharePremium 2024-12-31 14447017 frs-core:ShareCapital 2024-12-31 14447017 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 14447017 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-12-31 14447017 frs-bus:FilletedAccounts 2023-11-01 2024-12-31 14447017 frs-bus:SmallEntities 2023-11-01 2024-12-31 14447017 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-12-31 14447017 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-12-31 14447017 frs-bus:Director1 2023-11-01 2024-12-31 14447017 frs-bus:Director2 2023-11-01 2024-12-31 14447017 frs-bus:Director3 2023-11-01 2024-12-31 14447017 frs-bus:Director4 2023-11-01 2024-12-31 14447017 frs-bus:Director5 2023-11-01 2024-12-31 14447017 frs-countries:EnglandWales 2023-11-01 2024-12-31 14447017 2022-10-26 14447017 2023-10-31 14447017 2022-10-27 2023-10-31 14447017 frs-core:CurrentFinancialInstruments 2023-10-31 14447017 frs-core:Non-currentFinancialInstruments 2023-10-31 14447017 frs-core:SharePremium 2023-10-31 14447017 frs-core:ShareCapital 2023-10-31 14447017 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 14447017
Arvo Lithium Ltd
Unaudited Financial Statements
For the Period 1 November 2023 to 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14447017
31 December 2024 31 October 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 1,840,261 1,771,453
Cash at bank and in hand 151,944 -
1,992,205 1,771,453
Creditors: Amounts Falling Due Within One Year 5 (9,191 ) (374 )
NET CURRENT ASSETS (LIABILITIES) 1,983,014 1,771,079
TOTAL ASSETS LESS CURRENT LIABILITIES 1,983,014 1,771,079
Creditors: Amounts Falling Due After More Than One Year 6 (520,313 ) (520,313 )
NET ASSETS 1,462,701 1,250,766
CAPITAL AND RESERVES
Called up share capital 7 13,845 13,659
Share premium account 1,448,583 1,245,092
Profit and Loss Account 273 (7,985 )
SHAREHOLDERS' FUNDS 1,462,701 1,250,766
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luis da Silva
Director
30/07/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Arvo Lithium Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14447017 . The registered office is Unit A Farriers Courtyard, Spelmonden Farm Spelmonden Road, Goudhurst, Cranbrook, England, TN17 1HE.
Arvo Lithium Ltd owns 100% of Arvo Metals Oy, an exploration company that has multiple licences in the Kaustinen lithium province in Finland. 
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1 (2023: 1)
1 1
4. Debtors
31 December 2024 31 October 2023
£ £
Due within one year
Escrow / Designated Escrow Account - 980,032
Due after more than one year
Loan to Arvo Metal OY 1,831,775 782,935
Investment in Subsidiary 8,486 8,486
1,840,261 791,421
1,840,261 1,771,453
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Page 3
5. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 October 2023
£ £
Corporation tax 152 -
Accruals and deferred income 9,039 374
9,191 374
6. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 October 2023
£ £
Intercompany payable to Arvo Metals Oy 520,313 520,313
On 28 December 2022, Lithium Royalty Corp. (LRC) acquired 36,585 shares in the Company for £124,875.  Concurrently, LRC entered into a gross revenue royalty agreement with Arvo Metals Oy, the wholly owned subsidiary of the Company, covering the Kaustinen and Ilmajoki reservation areas in Finland licenced to Arvo Metals Oy.  The consideration for the royalty agreement amounted to £520,313 was paid to the Company and recorded as an intercompany payable to Arvo Metals Oy.  The comparative balance as at 31 October 2023 has been reclassified under non-current liabilities to reflect the revised expectation that the account will be settled beyond twelve months from the reporting date.
7. Share Capital
31 December 2024 31 October 2023
£ £
Allotted, Called up and fully paid 13,845 13,659
During the period ended 31 December 2024, the company issued 18,670 ordinary shares for a cash consideration of GBP 203,678 with allocation of GBP 187 to share capital value and GBP 203,491 to share premium.
8. Related Party Transactions
a) At the year end, the subsidiary company ARVO Metal OY owe GBP 1,831,775 to ARVO Lithium Ltd in respect of a 2% interest bearing loan (2023 : 782,935).
b) The business has earned interest of GBP 31,178 on loan given to ARVO Metal OY.
c) ARVO Lithium's investment in Arvo Metals OY (the share capital in Arvo Metals FS) is EUR10,000 i.e. GBP 8,486. 

d) Arvo Lithium Ltd has an intercompany payable to Arvo Metals Oy of £520,313 as discussed in Note 6.
9. Escrow Account
This account represents cash in bank held on behalf of the Company that is used only for the purpose of financing the Company’s subsidiary via loans and settlement of Company’s suppliers. The balance at year end date 31/12/2024 is nil (2023
: GBP 980,032).
Page 3