Caseware UK (AP4) 2021.0.152 2021.0.152 2021-09-302021-09-302020-10-0114The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity14truetrue 02801355 2020-10-01 2021-09-30 02801355 2019-10-01 2020-09-30 02801355 2021-09-30 02801355 2020-09-30 02801355 c:CompanySecretary1 2020-10-01 2021-09-30 02801355 c:Director1 2020-10-01 2021-09-30 02801355 c:Director2 2020-10-01 2021-09-30 02801355 c:RegisteredOffice 2020-10-01 2021-09-30 02801355 d:Buildings d:LongLeaseholdAssets 2020-10-01 2021-09-30 02801355 d:Buildings d:LongLeaseholdAssets 2021-09-30 02801355 d:Buildings d:LongLeaseholdAssets 2020-09-30 02801355 d:PlantMachinery 2020-10-01 2021-09-30 02801355 d:PlantMachinery 2021-09-30 02801355 d:PlantMachinery 2020-09-30 02801355 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 02801355 d:MotorVehicles 2020-10-01 2021-09-30 02801355 d:MotorVehicles 2021-09-30 02801355 d:MotorVehicles 2020-09-30 02801355 d:MotorVehicles d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 02801355 d:ComputerEquipment 2020-10-01 2021-09-30 02801355 d:ComputerEquipment 2021-09-30 02801355 d:ComputerEquipment 2020-09-30 02801355 d:ComputerEquipment d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 02801355 d:OwnedOrFreeholdAssets 2020-10-01 2021-09-30 02801355 d:Goodwill 2020-10-01 2021-09-30 02801355 d:Goodwill 2021-09-30 02801355 d:Goodwill 2020-09-30 02801355 d:CurrentFinancialInstruments 2021-09-30 02801355 d:CurrentFinancialInstruments 2020-09-30 02801355 d:Non-currentFinancialInstruments 2021-09-30 02801355 d:Non-currentFinancialInstruments 2020-09-30 02801355 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 02801355 d:CurrentFinancialInstruments d:WithinOneYear 2020-09-30 02801355 d:Non-currentFinancialInstruments d:AfterOneYear 2021-09-30 02801355 d:Non-currentFinancialInstruments d:AfterOneYear 2020-09-30 02801355 d:ShareCapital 2021-09-30 02801355 d:ShareCapital 2020-09-30 02801355 d:RetainedEarningsAccumulatedLosses 2021-09-30 02801355 d:RetainedEarningsAccumulatedLosses 2020-09-30 02801355 c:OrdinaryShareClass1 2020-10-01 2021-09-30 02801355 c:OrdinaryShareClass1 2021-09-30 02801355 c:OrdinaryShareClass1 2020-09-30 02801355 c:FRS102 2020-10-01 2021-09-30 02801355 c:AuditExempt-NoAccountantsReport 2020-10-01 2021-09-30 02801355 c:FullAccounts 2020-10-01 2021-09-30 02801355 c:PrivateLimitedCompanyLtd 2020-10-01 2021-09-30 02801355 d:Goodwill d:OwnedIntangibleAssets 2020-10-01 2021-09-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02801355










AURORA SCIENTIFIC LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

 
AURORA SCIENTIFIC LIMITED
 

COMPANY INFORMATION


Directors
Mr B W T Hepburn 
Mrs C B Hepburn 




Company secretary
Mrs C B Hepburn



Registered number
02801355



Registered office
Unit 2 Gypsy Lane
Keynsham

Bristol

BS31 2ED




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
AURORA SCIENTIFIC LIMITED
REGISTERED NUMBER: 02801355

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2021

2021
2020
£
£

Fixed assets
  

Intangible assets
 4 
-
158,334

Tangible assets
 5 
74,649
96,321

  
74,649
254,655

Current assets
  

Stocks
  
230,000
230,000

Debtors
 6 
184,318
139,688

Cash at bank and in hand
  
636
3,468

  
414,954
373,156

Creditors: amounts falling due within one year
 7 
(715,644)
(556,918)

Net current liabilities
  
 
 
(300,690)
 
 
(183,762)

Total assets less current liabilities
  
(226,041)
70,893

Creditors: amounts falling due after more than one year
 8 
(172,981)
(256,507)

  

Net liabilities
  
(399,022)
(185,614)


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
(399,024)
(185,616)

  
(399,022)
(185,614)


Page 1

 
AURORA SCIENTIFIC LIMITED
REGISTERED NUMBER: 02801355

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr B W T Hepburn
Director

Date: 6 September 2022

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.


General information

Aurora Scientific Limited is a private company limited by shares and incorporated in England with registration number 02801355. The address of the registered office is Unit 2 Gypsy Lane, Keynsham, Bristol, England, BS31 2ED.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis, notwithstanding, the company has net current liabilities as at 30 September 2021 of £399,022 (2020 - £183,762). The directors have secured new equity participators in May 2022, who have agreed to provide working capital to the company. On that basis, the directors believe the company has sufficient working capital to continue trading for at least 12 months from the date the financial statements are approved.

Page 3

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
3
years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
25%
Plant and machinery
-
15%
Motor vehicles
-
20%
Computer equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2020 - 14).

Page 6

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

4.


Intangible assets




Goodwill

£



Cost


At 1 October 2020
475,000



At 30 September 2021

475,000



Amortisation


At 1 October 2020
316,666


Charge for the year on owned assets
158,334



At 30 September 2021

475,000



Net book value



At 30 September 2021
-



At 30 September 2020
158,334



Page 7

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

5.


Tangible fixed assets





Property imp'ments
Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2020
31,616
374,475
102,471
73,038
581,600


Additions
-
1,120
-
483
1,603


Disposals
-
(1,855)
-
-
(1,855)



At 30 September 2021

31,616
373,740
102,471
73,521
581,348



Depreciation


At 1 October 2020
29,635
308,131
90,297
57,216
485,279


Charge for the year on owned assets
991
14,098
4,058
3,312
22,459


Disposals
-
(1,039)
-
-
(1,039)



At 30 September 2021

30,626
321,190
94,355
60,528
506,699



Net book value



At 30 September 2021
990
52,550
8,116
12,993
74,649



At 30 September 2020
1,981
66,344
12,174
15,822
96,321

Page 8

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

6.


Debtors

2021
2020
£
£



Trade debtors
165,043
92,001

Other debtors
2,701
27,722

Prepayments and accrued income
16,574
19,965

184,318
139,688


Included within other debtors is a loan to a director of £1,413 (2020 - £3,914). No interest or repayment terms have been agreed.


7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
7,800
3,750

Other loans
109,343
120,071

Trade creditors
303,313
264,545

Other taxation and social security
143,327
80,271

Obligations under finance lease and hire purchase contracts
-
2,185

Other creditors
149,361
78,596

Accruals and deferred income
2,500
7,500

715,644
556,918


Other creditors of £148,055 (2020: £77,536) are secured by a fixed and floating charge over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
35,700
41,250

Other loans
137,281
215,257

172,981
256,507


Page 9

 
AURORA SCIENTIFIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



2 (2020 - 2) Ordinary shares of £1.00 each
2
2

On 17 May 2022 the 2 ordinary shares of £1.00 each were sub-divided into 200 ordinary shares of £0.01 each. On the same day, 208 ordinary shares of £0.01 each were issued at a premium of £480.75. 



Page 10