Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31Laasti Ltd Optovue Ltdtruefalse2022-05-17Specialist medical practice activities3falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14111195 2022-05-16 14111195 2022-05-17 2023-05-31 14111195 2021-05-17 2022-05-16 14111195 2023-05-31 14111195 c:Director2 2022-05-17 2023-05-31 14111195 c:Director2 2023-05-31 14111195 d:OfficeEquipment 2022-05-17 2023-05-31 14111195 d:OfficeEquipment 2023-05-31 14111195 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-17 2023-05-31 14111195 d:CurrentFinancialInstruments 2023-05-31 14111195 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14111195 d:ShareCapital 2023-05-31 14111195 d:RetainedEarningsAccumulatedLosses 2023-05-31 14111195 c:FRS102 2022-05-17 2023-05-31 14111195 c:AuditExempt-NoAccountantsReport 2022-05-17 2023-05-31 14111195 c:FullAccounts 2022-05-17 2023-05-31 14111195 c:PrivateLimitedCompanyLtd 2022-05-17 2023-05-31 14111195 d:EntityControlledByKeyManagementPersonnel1 2022-05-17 2023-05-31 14111195 d:EntityControlledByKeyManagementPersonnel1 2023-05-31 14111195 2 2022-05-17 2023-05-31 14111195 6 2022-05-17 2023-05-31 14111195 e:PoundSterling 2022-05-17 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14111195










AUGA LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2023

 
AUGA LTD
REGISTERED NUMBER: 14111195

BALANCE SHEET
AS AT 31 MAY 2023

Period 17 May 2022 to 31 May 2023
Note
£

Fixed assets
  

Tangible assets
 5 
1,403

Investments
 6 
100,833

  
102,236

Current assets
  

Debtors: amounts falling due within one year
 7 
6,691

Cash at bank and in hand
  
3,802

  
10,493

Creditors: amounts falling due within one year
 8 
(138,857)

Net current (liabilities)/assets
  
 
 
(128,364)

Total assets less current liabilities
  
(26,128)

  

Net (liabilities)/assets
  
(26,128)


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
(26,228)

  
(26,128)


Page 1

 
AUGA LTD
REGISTERED NUMBER: 14111195
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 period 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: 




Afsar Jalil Jafree
Director

Date: 8 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AUGA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

AUGA Ltd is a private company, limited by shares, registered in England & Wales. The company's registered number and registered office address can be found on the Company Information page of these financial statements.
The company was incorporated on 17 May 2022, these financial statements cover a 13 months period to the listed period end date. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors make reference to the negative reserves, however due to this being the first year of trade and there being significant start up costs, have considered the resources available to the entity, and concluded that they can continue to adopt the going concern policy when preparing the accounts.

 
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:

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.

Page 3

 
AUGA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

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.

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:

Office equipment
-
20%
Straight line basis

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

 
2.8

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.

 
2.9

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 4

 
AUGA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the period was 3.

Page 5

 
AUGA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
2,104



At 31 May 2023

2,104



Depreciation


Charge for the period on owned assets
701



At 31 May 2023

701



Net book value



At 31 May 2023
1,403


6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
100,833



At 31 May 2023
100,833





7.


Debtors

Period 17 May 2022 to 31 May 2023
£


Other debtors
2,511

Prepayments and accrued income
4,180

6,691


Page 6

 
AUGA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

7.Debtors (continued)

Included within other debtors is £2,511, an amount owed by Laasti Ltd, a company under common control.


8.


Creditors: Amounts falling due within one year

Period 17 May 2022 to 31 May 2023
£

Other taxation and social security
90

Other creditors
135,767

Accruals and deferred income
3,000

138,857


Included within other creditors is £38,023 owed to a director, and £75,773 owed to Optovue Ltd, a company under common control.

 
Page 7