REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Aurum And Aurum Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Aurum And Aurum Limited |
Aurum And Aurum Limited (Registered number: 08612859) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Aurum And Aurum Limited |
Company Information |
for the Year Ended 31 July 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
120 New Cavendish Street, |
London |
W1W 6XX |
Aurum And Aurum Limited (Registered number: 08612859) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ |
Fixed assets |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Non-distributable fair value | 11 |
Retained earnings | 11 |
Shareholders' funds |
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. |
Aurum And Aurum Limited (Registered number: 08612859) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Aurum And Aurum Limited (Registered number: 08612859) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | Statutory information |
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Old Gloucester Street, London, United Kingdom, WC1N 3AX. |
The principal activity of the company during the year was letting of leasehold property. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the entity. |
Turnover |
The turnover shown in the profit and loss account represents rents receivable during the year, and is measured at fair value. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Going concern |
After making enquiries the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason he adopts the going concern basis in preparing the financial statements. |
Aurum And Aurum Limited (Registered number: 08612859) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | Employees and directors |
The average number of employees during the year was |
5. | Investment property |
Total |
£ |
Fair value |
At 1 August 2022 |
and 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
The investment properties were valued on a fair value basis by the Director H. Karaki as at 31 July 2023. |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2017 | 517 |
Valuation in 2021 | 97,893 |
Valuation in 2022 | 131,282 |
Cost | 1,225,308 |
1,455,000 |
6. | Debtors: amounts falling due within one year |
31.7.23 | 31.7.22 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
31.7.23 | 31.7.22 |
£ | £ |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
31.7.23 | 31.7.22 |
£ | £ |
Other creditors |
Aurum And Aurum Limited (Registered number: 08612859) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | Creditors: amounts falling due after more than one year - continued |
The company has the following interest only loans: |
£243,579 with Shawbrook Bank Limited. This is an interest only mortgage and it has a maturity date of 4th May 2028. This loan is secured over the company's investment property situated at Flat 5, Albert Court, Edgware, London, W2 1BU. |
£305,757 with The Mortgage Works (UK) plc. This is an interest only mortgage with a fixed rate of 3.59% until 31st May 2024. This loan is secured over the company's investment property situated at Flat 1, Broadoak House, Mortimer Crescent, London, NW6 5PA and is for a term of 20 years. |
£345,500 with The Mortgage Works (UK) plc. This is an interest only mortgage with a fixed rate of 3.29%. This loan is secured over the company's investment property situated at 12 Kington House, Mortimer Crescent, NW6 5NU and is for a term of 15 years. |
9. | Provisions for liabilities |
31.7.23 | 31.7.22 |
£ | £ |
Deferred tax |
Other timing differences | 59,707 | 59,707 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Balance at 31 July 2023 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
Ordinary £1 shares | 1 | 100 | 100 |
Called-up share capital represents the nominal value of shares that have been issued. |
11. | Reserves |
Non-distributable |
Retained | fair |
earnings | value | Totals |
£ | £ | £ |
At 1 August 2022 | 187,637 |
Profit for the year |
At 31 July 2023 | 206,015 |
The retained earnings reserve records retained earnings and accumulated losses. |
The non-distributable fair value reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. |
Aurum And Aurum Limited (Registered number: 08612859) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
12. | Director's advances, credits and guarantees |
During the year the company had the following transactions with the director, H.Karaki: |
31.7.23 | 31.7.22 |
£ | £ |
Balance brought forward | (324,259 | ) | (342,295 | ) |
Monies repaid during the period | - | 18,036 |
Balance carried forward | (324,259 | ) | (324,259 | ) |
The above loan is unsecured, interest free and repayable on demand. |
Aurum And Aurum Limited (Registered number: 08612859) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
13. | Related party disclosures |
H.K Resources and Developments Limited |
During the year the company had the following transactions with H.K Resources and Developments Limited, a company controlled by H.Karaki : |
31.7.23 | 31.7.22 |
£ | £ |
Balance brought forward | (11,113 | ) | (11,113 | ) |
Balance carried forward | (11,113 | ) | (11,113 | ) |
Aurum & Aurum 62 Limited |
During the year the company had the following transactions with Aurum & Aurum 62 Limited, a company controlled by H.Karaki: |
31.7.23 | 31.7.22 |
£ | £ |
Balance brought forward | (7,521 | ) | (7,521 | ) |
Balance carried forward | (7,521 | ) | (7,521 | ) |
EWS UK Services Limited |
During the year the company had the following transactions with EWS UK Services Limited, a company controlled by H.Karaki until 22 March 2022: |
31.7.23 | 31.7.22 |
£ | £ |
Loan received from EWS UK Services Limited | (60,000 | ) | - |
Monies repaid to EWS UK Services Limited | 40,496 | - |
Balance carried forward | (19,504 | ) | - |
During the year the company recevied rental income amounting to £50,000 covering the period 1st November 2021 to 7th June 2024 from EWS UK Services Limited. |
The above loans are unsecured, interest free and repayable on demand. |
14. | Ultimate controlling party |