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Registered Number: 11637491
England and Wales

 

 

 

AURUM ENTERPRISE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 11,235    1,419 
11,235    1,419 
Current assets      
Stocks 190,204    180,103 
Debtors 42,492    42,130 
Cash at bank and in hand 43,196    55,238 
275,892    277,471 
Creditors: amount falling due within one year (202,944)   (214,305)
Net current assets 72,948    63,166 
 
Total assets less current liabilities 84,183    64,585 
Creditors: amount falling due after more than one year (19,805)   (26,997)
Net assets 64,378    37,588 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 64,278    37,488 
Shareholders' funds 64,378    37,588 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 July 2024 and were signed by:


-------------------------------
Muhammad Sabir
Director
1
General Information
AURUM ENTERPRISE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11637491, registration address C/O Goodmen Ltd, Iveco House Station Road, Watford, England, WD17 1ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the Profit& Loss Account on a straight line basis. 
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 November 2022   1,800    5,293    7,093 
Additions 14,980        14,980 
Disposals      
At 31 October 2023 14,980    1,800    5,293    22,073 
Depreciation
At 01 November 2022 3,745    1,440    4,234    9,419 
Charge for year   360    1,059    1,419 
On disposals      
At 31 October 2023 3,745    1,800    5,293    10,838 
Net book values
Closing balance as at 31 October 2023 11,235        11,235 
Opening balance as at 01 November 2022   360    1,059    1,419 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2