Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-01falseNo description of principal activity1212falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04080776 2022-04-01 2023-03-31 04080776 2021-04-01 2022-03-31 04080776 2023-03-31 04080776 2022-03-31 04080776 c:Director2 2022-04-01 2023-03-31 04080776 d:PlantMachinery 2022-04-01 2023-03-31 04080776 d:PlantMachinery 2023-03-31 04080776 d:PlantMachinery 2022-03-31 04080776 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04080776 d:MotorVehicles 2022-04-01 2023-03-31 04080776 d:MotorVehicles 2023-03-31 04080776 d:MotorVehicles 2022-03-31 04080776 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04080776 d:OfficeEquipment 2022-04-01 2023-03-31 04080776 d:OfficeEquipment 2023-03-31 04080776 d:OfficeEquipment 2022-03-31 04080776 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04080776 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04080776 d:CurrentFinancialInstruments 2023-03-31 04080776 d:CurrentFinancialInstruments 2022-03-31 04080776 d:Non-currentFinancialInstruments 2023-03-31 04080776 d:Non-currentFinancialInstruments 2022-03-31 04080776 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04080776 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04080776 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04080776 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04080776 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04080776 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 04080776 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04080776 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 04080776 d:ShareCapital 2023-03-31 04080776 d:ShareCapital 2022-03-31 04080776 d:CapitalRedemptionReserve 2023-03-31 04080776 d:CapitalRedemptionReserve 2022-03-31 04080776 d:RetainedEarningsAccumulatedLosses 2023-03-31 04080776 d:RetainedEarningsAccumulatedLosses 2022-03-31 04080776 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04080776 c:OrdinaryShareClass1 2023-03-31 04080776 c:OrdinaryShareClass1 2022-03-31 04080776 c:OrdinaryShareClass2 2022-04-01 2023-03-31 04080776 c:OrdinaryShareClass2 2023-03-31 04080776 c:OrdinaryShareClass2 2022-03-31 04080776 c:OrdinaryShareClass4 2022-04-01 2023-03-31 04080776 c:OrdinaryShareClass4 2023-03-31 04080776 c:OrdinaryShareClass4 2022-03-31 04080776 c:FRS102 2022-04-01 2023-03-31 04080776 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04080776 c:FullAccounts 2022-04-01 2023-03-31 04080776 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04080776 d:WithinOneYear 2023-03-31 04080776 d:WithinOneYear 2022-03-31 04080776 2 2022-04-01 2023-03-31 04080776 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04080776










Aura Custom Solutions Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
Aura Custom Solutions Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Aura Custom Solutions Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aura Custom Solutions Limited for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Aura Custom Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Aura Custom Solutions Limited  and state those matters that we have agreed to state to the Board of Directors of Aura Custom Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aura Custom Solutions Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Aura Custom Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aura Custom Solutions Limited. You consider that Aura Custom Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Aura Custom Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
24 November 2023
Page 1

 
Aura Custom Solutions Limited
Registered number: 04080776

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
92,460
121,194

Investments
 5 
1
-

  
92,461
121,194

Current assets
  

Stocks
 6 
53,672
72,381

Debtors: amounts falling due within one year
 7 
193,725
242,268

Cash at bank and in hand
 8 
684,330
728,680

  
931,727
1,043,329

Creditors: amounts falling due within one year
 9 
(331,862)
(663,534)

Net current assets
  
 
 
599,865
 
 
379,795

Total assets less current liabilities
  
692,326
500,989

Creditors: amounts falling due after more than one year
 10 
(36,142)
(33,333)

Provisions for liabilities
  

Deferred tax
  
(23,115)
(30,299)

  
 
 
(23,115)
 
 
(30,299)

Net assets
  
633,069
437,357


Capital and reserves
  

Called up share capital 
  
180
180

Capital redemption reserve
  
20
20

Profit and loss account
  
632,869
437,157

  
633,069
437,357


Page 2

 
Aura Custom Solutions Limited
Registered number: 04080776

Balance Sheet (continued)
As at 31 March 2023

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: 




J J Santy
Director

Date: 24 November 2023

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

The Company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Unit 3.3 Central Point
Kirpal Road 
Portsmouth 
Hampshire
United Kingdom 
PO3 6FH

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

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

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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 6

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

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 balance sheet 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.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.16

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.17

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.

Page 8

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 12).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
20,494
171,528
9,794
201,816


Additions
-
-
569
569


Disposals
-
(26,755)
-
(26,755)



At 31 March 2023

20,494
144,773
10,363
175,630



Depreciation


At 1 April 2022
12,844
63,747
4,031
80,622


Charge for the year
1,913
21,147
1,512
24,572


Disposals
-
(22,024)
-
(22,024)



At 31 March 2023

14,757
62,870
5,543
83,170



Net book value



At 31 March 2023
5,737
81,903
4,820
92,460



At 31 March 2022
7,650
107,781
5,763
121,194


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
1



At 31 March 2023
1




Page 9

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

6.


Stocks

2023
2022
£
£

Raw materials and consumables
14,438
10,789

Work in progress
39,234
61,592

53,672
72,381



7.


Debtors

2023
2022
£
£


Trade debtors
144,266
183,736

Other debtors
17,971
37,046

Prepayments and accrued income
31,488
21,486

193,725
242,268



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
684,330
728,680

684,330
728,680



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
57,143
139,178

Corporation tax
89,908
61,174

Other taxation and social security
18,900
81,289

Obligations under finance lease and hire purchase contracts
11,198
-

Other creditors
3,472
9,330

Accruals and deferred income
141,241
362,563

331,862
663,534


Page 10

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,333
33,333

Net obligations under finance leases and hire purchase contracts
12,809
-

36,142
33,333



11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
13,333
23,333


13,333
23,333


33,333
43,333



12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



120 (2022 - 120) Ordinary A shares of £1.00 each
120
120
40 (2022 - 40) Ordinary B shares of £1.00 each
40
40
20 (2022 - 20) Ordinary D shares of £1.00 each
20
20

180

180


Page 11

 
Aura Custom Solutions Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

13.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Operating leases
22,493
37,173

22,493
37,173


Page 12