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Company Registration No. 07820867 (England and Wales)
Aura Salon Limited Unaudited accounts for the year ended 31 October 2023
Aura Salon Limited Unaudited accounts Contents
Page
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Aura Salon Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,318 
12,912 
Current assets
Inventories
3,010 
3,541 
Debtors
105 
- 
Cash at bank and in hand
73,491 
85,779 
76,606 
89,320 
Creditors: amounts falling due within one year
(58,928)
(50,441)
Net current assets
17,678 
38,879 
Total assets less current liabilities
33,996 
51,791 
Creditors: amounts falling due after more than one year
(16,667)
(26,667)
Provisions for liabilities
Deferred tax
(3,100)
(2,453)
Net assets
14,229 
22,671 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
14,129 
22,571 
Shareholders' funds
14,229 
22,671 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 July 2024 and were signed on its behalf by
S. Vaizgelaite Director Company Registration No. 07820867
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Aura Salon Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Aura Salon Limited is a private company, limited by shares, registered in England and Wales, registration number 07820867. The registered office is 26 The Square, Market Harborough, Leicestershire, LE16 7PA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Aura Salon Limited Notes to the Accounts for the year ended 31 October 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 November 2022
43,254 
Additions
6,978 
At 31 October 2023
50,232 
Depreciation
At 1 November 2022
30,342 
Charge for the year
3,572 
At 31 October 2023
33,914 
Net book value
At 31 October 2023
16,318 
At 31 October 2022
12,912 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
105 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
12,350 
15,727 
Trade creditors
16,000 
7,672 
Taxes and social security
6,902 
4,651 
Other creditors
12,536 
11,251 
Accruals
1,140 
1,140 
58,928 
50,441 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,667 
26,667 
The bank loan is secured by a fixed and floating charge over the company assets.
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Aura Salon Limited Notes to the Accounts for the year ended 31 October 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).
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