Argentix Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC221143 (Scotland)

Argentix Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C R Harris

SECRETARY:

Dr K D R Winton

REGISTERED OFFICE:

Wallace Building

Roslin Biocentre

Edinburgh

Midlothian

EH25 9PP

REGISTERED NUMBER:

SC221143 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Bank of Scotland

110 Queen Street

Glasgow

G1 3BY

SOLICITORS:

Shield & Kyd

15 Rutland Street

Edinburgh

EH1 2AE

FIXED ASSETS

Tangible assets

2

-

1,139

CURRENT ASSETS

Debtors

2,518

1,405

Cash at bank

41,268

56,723

43,786

58,128

CREDITORS

Amounts falling due within one year

34,069

27,682

NET CURRENT ASSETS

9,717

30,446

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,717

31,585

PROVISIONS FOR LIABILITIES

-

228

NET ASSETS

9,717

31,357

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

9,716

31,356

SHAREHOLDERS' FUNDS

9,717

31,357

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 May 2017 and were signed by:

C R Harris - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover and revenue recognition

Turnover represents grants received and net invoiced sales of consultancy services, excluding value

added tax. Revenue is recognised when a sales invoice is raised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more

likely than not that there will be suitable taxable profits from which the future reversal of the

underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling

at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate

of exchange ruling at the date of transaction. Exchange differences are taken into account in

arriving at the operating result.

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 the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

5,034

DEPRECIATION

At 1 August 2015

3,895

Charge for year

1,139

At 31 July 2016

5,034

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

1,139

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary Shares

£1

1

4.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mr Christopher Harris throughout the current and previous

years. Mr Harris is the managing director and sole shareholder.