ARGO FLARE SERVICES LIMITED

ARGO FLARE SERVICES LIMITED - Company Information

2022-04-012023-03-312023-03-31false00952260ARGO FLARE SERVICES LIMITED2023-06-20iso4217:GBPxbrli:pure009522602022-04-01009522602023-03-31009522602022-04-012023-03-31009522602021-04-01009522602022-03-31009522602021-04-012022-03-3100952260bus:SmallEntities2022-04-012023-03-3100952260bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3100952260bus:FullAccounts2022-04-012023-03-3100952260bus:PrivateLimitedCompanyLtd2022-04-012023-03-3100952260core:WithinOneYear2023-03-3100952260core:AfterOneYear2023-03-3100952260core:WithinOneYear2022-03-3100952260core:AfterOneYear2022-03-3100952260core:ShareCapital2023-03-3100952260core:SharePremium2023-03-3100952260core:RevaluationReserve2023-03-3100952260core:OtherReservesSubtotal2023-03-3100952260core:RetainedEarningsAccumulatedLosses2023-03-3100952260core:ShareCapital2022-03-3100952260core:SharePremium2022-03-3100952260core:RevaluationReserve2022-03-3100952260core:OtherReservesSubtotal2022-03-3100952260core:RetainedEarningsAccumulatedLosses2022-03-3100952260core:LandBuildings2023-03-3100952260core:PlantMachinery2023-03-3100952260core:Vehicles2023-03-3100952260core:FurnitureFittings2023-03-3100952260core:OfficeEquipment2023-03-3100952260core:NetGoodwill2023-03-3100952260core:IntangibleAssetsOtherThanGoodwill2023-03-3100952260core:ListedExchangeTraded2023-03-3100952260core:UnlistedNon-exchangeTraded2023-03-3100952260core: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:LandBuildings2022-04-012023-03-3100952260core:PlantMachinery2022-04-012023-03-3100952260core:Vehicles2022-04-012023-03-3100952260core:FurnitureFittings2022-04-012023-03-3100952260core:OfficeEquipment2022-04-012023-03-3100952260core:NetGoodwill2022-04-012023-03-3100952260core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3100952260core:ListedExchangeTraded2022-04-012023-03-3100952260core:UnlistedNon-exchangeTraded2022-04-012023-03-3100952260core:MoreThanFiveYears2022-04-012023-03-3100952260core:Non-currentFinancialInstruments2023-03-3100952260core:Non-currentFinancialInstruments2022-03-3100952260dpl:CostSales2022-04-012023-03-3100952260dpl:DistributionCosts2022-04-012023-03-3100952260dpl:AdministrativeExpenses2022-04-012023-03-3100952260core:LandBuildings2022-04-012023-03-3100952260core:PlantMachinery2022-04-012023-03-3100952260core:Vehicles2022-04-012023-03-3100952260core:FurnitureFittings2022-04-012023-03-3100952260core:OfficeEquipment2022-04-012023-03-3100952260core:NetGoodwill2022-04-012023-03-3100952260core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3100952260dpl:GroupUndertakings2022-04-012023-03-3100952260dpl:ParticipatingInterests2022-04-012023-03-3100952260dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3100952260core:ListedExchangeTraded2022-04-012023-03-3100952260dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3100952260core:UnlistedNon-exchangeTraded2022-04-012023-03-3100952260dpl: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-exchangeTraded2021-04-012022-03-3100952260core:NetGoodwill2023-03-3100952260core:IntangibleAssetsOtherThanGoodwill2023-03-3100952260core:LandBuildings2023-03-3100952260core:PlantMachinery2023-03-3100952260core:Vehicles2023-03-3100952260core:FurnitureFittings2023-03-3100952260core:OfficeEquipment2023-03-3100952260core:AfterOneYear2023-03-3100952260core:WithinOneYear2023-03-3100952260core:ListedExchangeTraded2023-03-3100952260core:UnlistedNon-exchangeTraded2023-03-3100952260core:ShareCapital2023-03-3100952260core:SharePremium2023-03-3100952260core:RevaluationReserve2023-03-3100952260core:OtherReservesSubtotal2023-03-3100952260core:RetainedEarningsAccumulatedLosses2023-03-3100952260core: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:ListedExch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Registered Number
00952260
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

ARGO FLARE SERVICES LIMITED

Company Information
for the year from 1 April 2022 to 31 March 2023


Directors	Alistair Duncan John Blest
	Raymond Leslie Seale
	Paul Colin George Sharman
	Andrew Gordon Tallentire


Registered Address	43 High Street
	Marlow
	SL7 1BA


Registered Number	00952260 (England and Wales)

ARGO FLARE SERVICES LIMITED

Balance Sheet as at
31 March 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	7		3,224		1,214
			3,224		1,214
Current assets
Stocks	10	903,148		133,128
Debtors	11	515,186		191,803
Cash at bank and on hand		764,695		538,081
		2,183,029		863,012
Creditors amounts falling due within one year	12	(1,967,692)		(580,748)
Net current assets (liabilities)			215,337		282,264
Total assets less current liabilities			218,561		283,478
Net assets			218,561		283,478
Capital and reserves
Called up share capital			1,000		1,000
Profit and loss account			217,561		282,478
Shareholders' funds			218,561		283,478

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 financial statements were approved and authorised for issue by the Board of Directors on 20 June 2023, and are signed on its behalf by:

Alistair Duncan John Blest
Director
Registered Company No. 00952260

ARGO FLARE SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 March 2023

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 12 May 2023.

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 activity of the company in the year under review was that of providing specialist flare services.

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)
	Office Equipment	5

	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.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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


		2023		2022
	Average number of employees during the year	3		3

7.	Property, plant and equipment

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 22	26,536	48,704	75,240
Additions	-	2,716	2,716
At 31 March 23	26,536	51,420	77,956
Depreciation and impairment
At 01 April 22	26,536	47,490	74,026
Charge for year	-	706	706
At 31 March 23	26,536	48,196	74,732
Net book value
At 31 March 23	-	3,224	3,224
At 31 March 22	-	1,214	1,214

8.	Fixed asset investments

9.	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.

10.	Stocks

	2023	2022
	£	£
Work in progress	903,148	133,128
Total	903,148	133,128

11.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	380,437	149,160
Amounts owed by group undertakings	999	-
Other debtors	52,166	5,127
Prepayments and accrued income	80,043	35,121
Deferred tax asset, debtors	1,541	2,395
Total	515,186	191,803


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

12.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	120,861	65,659
Amounts owed to related parties	-	90,000
Taxation and social security	113,115	108,636
Other creditors	999	-
Accrued liabilities and deferred income	1,732,717	316,453
Total	1,967,692	580,748


	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.