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REGISTERED NUMBER: 09268609 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

AURA DESIGNS LTD

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


AURA DESIGNS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: Mrs N A Patel
Mr R A Patel





REGISTERED OFFICE: Unit 27, Cobden House
Cobden Street
Leicester
LE1 2LB





REGISTERED NUMBER: 09268609 (England and Wales)





ACCOUNTANTS: Watergates Ltd
109 Coleman Road
Leicester
LE5 4LE

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2021

31/12/21 31/12/20
Notes £    £   
FIXED ASSETS
Tangible assets 4 101,864 122,734

CURRENT ASSETS
Stocks 20,471 25,978
Debtors 5 520,733 981,537
Cash at bank and in hand 125,210 57,021
666,414 1,064,536
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

(313,986

)

(731,641

)
NET CURRENT ASSETS 352,428 332,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,292

455,629

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(250,000

)

-

PROVISIONS FOR LIABILITIES (3,100 ) (5,220 )
NET ASSETS 201,192 450,409

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 201,092 450,309
SHAREHOLDERS' FUNDS 201,192 450,409

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

STATEMENT OF FINANCIAL POSITION - continued
31ST DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th September 2022 and were signed on its behalf by:





Mr R A Patel - Director


AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021


1. STATUTORY INFORMATION

Aura Designs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 15% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2020 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st January 2021
and 31st December 2021 90,130 12,837 70,485 173,452
DEPRECIATION
At 1st January 2021 26,277 3,070 21,371 50,718
Charge for year 9,013 1,284 10,573 20,870
At 31st December 2021 35,290 4,354 31,944 71,588
NET BOOK VALUE
At 31st December 2021 54,840 8,483 38,541 101,864
At 31st December 2020 63,853 9,767 49,114 122,734

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st January 2021
and 31st December 2021 70,485
DEPRECIATION
At 1st January 2021 21,371
Charge for year 10,573
At 31st December 2021 31,944
NET BOOK VALUE
At 31st December 2021 38,541
At 31st December 2020 49,114

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 127,930 62,305
Amounts owed by group undertakings 390,900 649,000
Other debtors 1,903 270,232
520,733 981,537

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Hire purchase contracts - 37,864
Trade creditors 257,669 515,288
Taxation and social security 40,104 147,225
Other creditors 16,213 31,264
313,986 731,641

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/21 31/12/20
£    £   
Bank loans 250,000 -

AURA DESIGNS LTD (REGISTERED NUMBER: 09268609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/21 31/12/20
value: £    £   
100 Ordinary £1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2021 and 31st December 2020:

31/12/21 31/12/20
£    £   
Mrs N A Patel and Mr R A Patel
Balance outstanding at start of year 128,208 (38,226 )
Amounts advanced - 166,434
Amounts repaid (134,120 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,912 ) 128,208

At 31 December 2021 amounts due to the director is £5,912 (2020: £128,208 due from directors).