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ARETE FINANCIAL LTD - Company Information

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Registered number: 10548876

Arete Financial Ltd

Unaudited Financial Statements

for the year ended 31 January 2020

Statement of Financial Position

as at 31 January 2020

2020

2019

Called up share capital not paid

Fixed assets

13,534

13,475

Current assets

26,633

22,904

Prepayments and accrued income

Creditors: amounts falling due within one year

( 8,738 )

( 8,634 )

Net current assets (liabilities)

17,895

14,270

Total assets less current liabilities

31,429

27,745

Creditors: amounts falling due after more than one year

Provisions for liabilities

Accruals and deferred income

Net assets

31,429

27,745

Capital and reserves

31,429

27,745

10548876 2019-02-01 2020-01-31 10548876 2018-02-01 2019-01-31 10548876 2020-01-31 10548876 2019-01-31 10548876 2019-02-01 10548876 uk-frs102:WithinOneYear 2020-01-31 10548876 uk-frs102:AfterOneYear 2020-01-31 10548876 uk-frs102:WithinOneYear 2019-01-31 10548876 uk-frs102:AfterOneYear 2019-01-31 10548876 uk-bus:AuditExempt-NoAccountantsReport 2019-02-01 2020-01-31 10548876 uk-bus:AbbreviatedAccounts 2019-02-01 2020-01-31 10548876 uk-bus:Director1 1 2019-02-01 2020-01-31 10548876 uk-bus:Director1 2019-02-01 2020-01-31 10548876 uk-bus:Director1 1 2019-02-01 10548876 uk-bus:Director1 1 2020-01-31 10548876 uk-bus:Micro-entities 2019-02-01 2020-01-31 10548876 uk-bus:PrivateLimitedCompanyLtd 2019-02-01 2020-01-31 iso4217:GBP 10548876 countries:EnglandWales 2019-02-01 2020-01-31 10548876 uk-bus:RegisteredOffice 2019-02-01 2020-01-31

Footnotes to the Statement of Financial Position

1. Arrangements not included in Statement of Financial Position

The company has not entered into any arrangements not shown on the Statement of Financial Position.

2. Average number of employees

The average number of employees in the period was 1.

3. Directors’ benefits: advances, credit and guarantees

Claire Risby

Included in creditors is an amount due to be paid by the company to one of its directors. The amount is an advance made to the company of £3,448 by Claire Risby, a director of the company, on 01/02/2019.

During the accounting year the maximum amount repayable to Claire Risby was £6,969

The following conditions are attached to amount payable to Claire Risby:

There is no interest due to be paid on any outstanding amount
No fixed date has been set for the amount to be repaid by the company.

Opening balance 01/02/2019	Additional advance	Amount repaid	Amount written off	Amounts waived	Interest payable	Closing balance 31/01/2020
£	£	£	£	£	£	£
3,544	( 6,925 ) ( 6,925 )	6,829 6,829	0	0	0	3,448

4. Guarantees, contingencies and other financial commitments

There are no guarantees, contingencies or other commitments not included in the financial statements.

Statutory Statements

In accordance with section 414(3) of the Companies Act 2006, these accounts have been prepared in accordance with the FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime for periods commencing on or after 1 January 2016. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

For the year ending 31/01/2020 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 Companies Act 2006 with respect to accounting records and the preparation of accounts