ARGO FLARE SERVICES LIMITED

ARGO FLARE SERVICES LIMITED - Company Information

2021-04-012022-03-312022-03-31false00952260ARGO FLARE SERVICES LIMITED2022-11-08iso4217:GBPxbrli:pure009522602021-04-01009522602022-03-31009522602021-04-012022-03-31009522602020-04-01009522602021-03-31009522602020-04-012021-03-3100952260bus:SmallEntities2021-04-012022-03-3100952260bus:AuditExempt-NoAccountantsReport2021-04-012022-03-3100952260bus:AbridgedAccounts2021-04-012022-03-3100952260bus:PrivateLimitedCompanyLtd2021-04-012022-03-3100952260core:WithinOneYear2022-03-3100952260core:AfterOneYear2022-03-3100952260core:WithinOneYear2021-03-3100952260core:AfterOneYear2021-03-3100952260core:ShareCapital2022-03-3100952260core:SharePremium2022-03-3100952260core:RevaluationReserve2022-03-3100952260core:OtherReservesSubtotal2022-03-3100952260core:RetainedEarningsAccumulatedLosses2022-03-3100952260core:ShareCapital2021-03-3100952260core:SharePremium2021-03-3100952260core:RevaluationReserve2021-03-3100952260core:OtherReservesSubtotal2021-03-3100952260core:RetainedEarningsAccumulatedLosses2021-03-3100952260core:LandBuildings2022-03-3100952260core:PlantMachinery2022-03-3100952260core:Vehicles2022-03-3100952260core:FurnitureFittings2022-03-3100952260core:OfficeEquipment2022-03-3100952260core:NetGoodwill2022-03-3100952260core:IntangibleAssetsOtherThanGoodwill2022-03-3100952260core:ListedExchangeTraded2022-03-3100952260core:UnlistedNon-exchangeTraded2022-03-3100952260core:LandBuildings2021-03-3100952260core:PlantMachinery2021-03-3100952260core:Vehicles2021-03-3100952260core:FurnitureFittings2021-03-3100952260core:OfficeEquipment2021-03-3100952260core:NetGoodwill2021-03-3100952260core:IntangibleAssetsOtherThanGoodwill2021-03-3100952260core:ListedExchangeTraded2021-03-3100952260core:UnlistedNon-exchangeTraded2021-03-3100952260core:LandBuildings2021-04-012022-03-3100952260core:PlantMachinery2021-04-012022-03-3100952260core:Vehicles2021-04-012022-03-3100952260core:FurnitureFittings2021-04-012022-03-3100952260core:OfficeEquipment2021-04-012022-03-3100952260core:NetGoodwill2021-04-012022-03-3100952260core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3100952260core:ListedExchangeTraded2021-04-012022-03-3100952260core:UnlistedNon-exchangeTraded2021-04-012022-03-3100952260core:MoreThanFiveYears2021-04-012022-03-3100952260core:Non-currentFinancialInstruments2022-03-3100952260core:Non-currentFinancialInstruments2021-03-3100952260dpl:CostSales2021-04-012022-03-3100952260dpl:DistributionCosts2021-04-012022-03-3100952260dpl:AdministrativeExpenses2021-04-012022-03-3100952260core:LandBuildings2021-04-012022-03-3100952260core:PlantMachinery2021-04-012022-03-3100952260core:Vehicles2021-04-012022-03-3100952260core:FurnitureFittings2021-04-012022-03-3100952260core:OfficeEquipment2021-04-012022-03-3100952260core:NetGoodwill2021-04-012022-03-3100952260core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3100952260dpl:GroupUndertakings2021-04-012022-03-3100952260dpl:ParticipatingInterests2021-04-012022-03-3100952260dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3100952260core:ListedExchangeTraded2021-04-012022-03-3100952260dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3100952260core:UnlistedNon-exchangeTraded2021-04-012022-03-3100952260dpl:CostSales2020-04-012021-03-3100952260dpl:DistributionCosts2020-04-012021-03-3100952260dpl:AdministrativeExpenses2020-04-012021-03-3100952260core:LandBuildings2020-04-012021-03-3100952260core:PlantMachinery2020-04-012021-03-3100952260core:Vehicles2020-04-012021-03-3100952260core:FurnitureFittings2020-04-012021-03-3100952260core:OfficeEquipment2020-04-012021-03-3100952260core:NetGoodwill2020-04-012021-03-3100952260core:IntangibleAssetsOtherThanGoodwill2020-04-012021-03-3100952260dpl:GroupUndertakings2020-04-012021-03-3100952260dpl:ParticipatingInterests2020-04-012021-03-3100952260dpl:GroupUndertakingscore:ListedExchangeTraded2020-04-012021-03-3100952260core:ListedExchangeTraded2020-04-012021-03-3100952260dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-04-012021-03-3100952260core:UnlistedNon-exchangeTraded2020-04-012021-03-3100952260core:NetGoodwill2022-03-3100952260core:IntangibleAssetsOtherThanGoodwill2022-03-3100952260core:LandBuildings2022-03-3100952260core:PlantMachinery2022-03-3100952260core:Vehicles2022-03-3100952260core:FurnitureFittings2022-03-3100952260core:OfficeEquipment2022-03-3100952260core:AfterOneYear2022-03-3100952260core:WithinOneYear2022-03-3100952260core:ListedExchangeTraded2022-03-3100952260core:UnlistedNon-exchangeTraded2022-03-3100952260core:ShareCapital2022-03-3100952260core:SharePremium2022-03-3100952260core:RevaluationReserve2022-03-3100952260core:OtherReservesSubtotal2022-03-3100952260core:RetainedEarningsAccumulatedLosses2022-03-3100952260core:NetGoodwill2021-03-3100952260core:IntangibleAssetsOtherThanGoodwill2021-03-3100952260core:LandBuildings2021-03-3100952260core:PlantMachinery2021-03-3100952260core:Vehicles2021-03-3100952260core:FurnitureFittings2021-03-3100952260core:OfficeEquipment2021-03-3100952260core:AfterOneYear2021-03-3100952260core:WithinOneYear2021-03-3100952260core:Listed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Registered Number
00952260
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2022

ARGO FLARE SERVICES LIMITED

Company Information
for the year from 1 April 2021 to 31 March 2022


Directors	BLEST, Alistair Duncan John
	SEALE, Raymond Leslie
	SHARMAN, Paul Colin George
	TALLENTIRE, Andrew Gordon


Registered Address	43 High Street
	Marlow
	SL7 1BA


Registered Number	00952260 (England and Wales)

ARGO FLARE SERVICES LIMITED

Balance Sheet as at
31 March 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	7		1,214		-
			1,214		-
Current assets
Stocks	9	133,128		340,614
Debtors	10	190,972		186,088
Cash at bank and on hand		538,081		757,342
		862,181		1,284,044
Creditors amounts falling due within one year	11	(579,917)		(671,433)
Net current assets (liabilities)			282,264		612,611
Total assets less current liabilities			283,478		612,611
Net assets			283,478		612,611
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			282,478		611,611
Shareholders' funds			283,478		612,611

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 8 November 2022, and are signed on its behalf by:

BLEST, Alistair Duncan John
Director
Registered Company No. 00952260

ARGO FLARE SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 March 2022

1.	Statutory information
	The company is a private company limited by share capital, incorporated in England & Wales. The address of its registered office is: 43 High Street Marlow Buckinghamshire SL7 1BA These financial statements were authorised for issue by the Board on 13 October 2022.

2.	Compliance with applicable reporting framework
	These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3.	Principal activities
	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.

4.	Basis of measurement used in financial statements
	These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

5.	Accounting policies

	Property, plant and equipment policy
	Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Property, plant and equipment policy

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:


		Straight line (years)
	Fixtures and fittings	3

	Stocks policy
	Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Stocks policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

	Revenue recognition policy
	Revenue comprises the fair value of the sale of goods and services, net of value added tax, rebates and discounts. Revenue is recognised at the point of delivery of the goods or service and when the transfer of economic benefit to the company is highly probable.

	Taxation policy
	The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Taxation policy

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

	Leases policy
	Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

	Employee benefits policy
	A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits policy

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

6.	Employee information


		2022		2021
	Average number of employees during the year	3		3

7.	Property, plant and equipment

		Total
		£
	Cost or valuation
	At 01 April 21	73,866
	Additions	1,374
	At 31 March 22	75,240
	Depreciation and impairment
	At 01 April 21	73,866
	Charge for year	160
	At 31 March 22	74,026
	Net book value
	At 31 March 22	1,214
	At 31 March 21	-

8.	Dividends proposed and payable
	Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

9.	Stocks

	2022	2021
	£	£
Work in progress	133,128	340,614
Total	133,128	340,614

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	149,160	100,027
Other debtors	4,296	51,004
Prepayments and accrued income	35,121	31,854
Deferred tax asset, debtors	2,395	3,203
Total	190,972	186,088


	Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	65,659	118,557
Amounts owed to related parties	90,000	-
Taxation and social security	107,805	50,535
Other creditors	-	3,200
Accrued liabilities and deferred income	316,453	499,141
Total	579,917	671,433


	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 if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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 if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.