Acorah Software Products - Accounts Production 15.0.500 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 11728456 Mr Stephen Riley Mr Timothy Palmer Mr Patrick Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11728456 2022-12-31 11728456 2023-12-31 11728456 2023-01-01 2023-12-31 11728456 frs-core:CurrentFinancialInstruments 2023-12-31 11728456 frs-core:Non-currentFinancialInstruments 2023-12-31 11728456 frs-core:BetweenOneFiveYears 2023-12-31 11728456 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11728456 frs-core:MotorVehicles 2023-12-31 11728456 frs-core:MotorVehicles 2023-01-01 2023-12-31 11728456 frs-core:MotorVehicles 2022-12-31 11728456 frs-core:OtherResidualIntangibleAssets 2023-12-31 11728456 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 11728456 frs-core:OtherResidualIntangibleAssets 2022-12-31 11728456 frs-core:PlantMachinery 2023-12-31 11728456 frs-core:PlantMachinery 2023-01-01 2023-12-31 11728456 frs-core:PlantMachinery 2022-12-31 11728456 frs-core:WithinOneYear 2023-12-31 11728456 frs-core:ShareCapital 2023-12-31 11728456 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11728456 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11728456 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11728456 frs-bus:SmallEntities 2023-01-01 2023-12-31 11728456 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11728456 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11728456 frs-bus:Director1 2023-01-01 2023-12-31 11728456 frs-bus:Director1 2022-12-31 11728456 frs-bus:Director1 2023-12-31 11728456 frs-bus:Director2 2023-01-01 2023-12-31 11728456 frs-bus:Director3 2023-01-01 2023-12-31 11728456 frs-countries:EnglandWales 2023-01-01 2023-12-31 11728456 2021-12-31 11728456 2022-12-31 11728456 2022-01-01 2022-12-31 11728456 frs-core:CurrentFinancialInstruments 2022-12-31 11728456 frs-core:Non-currentFinancialInstruments 2022-12-31 11728456 frs-core:BetweenOneFiveYears 2022-12-31 11728456 frs-core:WithinOneYear 2022-12-31 11728456 frs-core:ShareCapital 2022-12-31 11728456 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11728456
Aura Works Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Mouktaris & Co Ltd
Chartered Accountants & Registered Auditors
156a Burnt Oak Broadway
Edgware
Middlesex
HA8 0AX
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11728456
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,853 4,414
Tangible Assets 5 30,543 24,181
39,396 28,595
CURRENT ASSETS
Debtors 6 122,973 103,409
Cash at bank and in hand 4,022 7,565
126,995 110,974
Creditors: Amounts Falling Due Within One Year 7 (48,907 ) (49,857 )
NET CURRENT ASSETS (LIABILITIES) 78,088 61,117
TOTAL ASSETS LESS CURRENT LIABILITIES 117,484 89,712
Creditors: Amounts Falling Due After More Than One Year 8 (34,030 ) (28,484 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (3,800 ) (3,000 )
NET ASSETS 79,654 58,228
CAPITAL AND RESERVES
Called up share capital 10 150 150
Income Statement 79,504 58,078
SHAREHOLDERS' FUNDS 79,654 58,228
Page 1
Page 2
For the year ending 31 December 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Patrick Williams
Director
10 May 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Aura Works Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11728456 . The registered office is Unit 12 Madeley Road, North Moons Moat, Redditch, B98 9NB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprise a software license used by the company for blueprints and workshop production. It is amortised to income statement over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
Page 3
Page 4
2.6. Taxation
The tax expense represents the sum of the corporation tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Intangible Assets
Software
£
Cost
As at 1 January 2023 5,518
Additions 7,391
As at 31 December 2023 12,909
Amortisation
As at 1 January 2023 1,104
Provided during the period 2,952
As at 31 December 2023 4,056
Net Book Value
As at 31 December 2023 8,853
As at 1 January 2023 4,414
Page 4
Page 5
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 January 2023 20,593 19,761 40,354
Additions 14,739 - 14,739
As at 31 December 2023 35,332 19,761 55,093
Depreciation
As at 1 January 2023 8,269 7,904 16,173
Provided during the period 5,413 2,964 8,377
As at 31 December 2023 13,682 10,868 24,550
Net Book Value
As at 31 December 2023 21,650 8,893 30,543
As at 1 January 2023 12,324 11,857 24,181
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 76,269 66,345
Prepayments and accrued income 14,768 10,880
Other debtors 19,180 22,423
Corporation tax recoverable assets - 3,761
VAT 6,355 -
Directors' loan accounts 6,401 -
122,973 103,409
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 2,211 -
Trade creditors 20,001 18,776
Bank loans and overdrafts 13,808 10,648
Corporation tax 2,887 -
VAT - 19,933
Other creditors 10,000 -
Directors' loan accounts - 500
48,907 49,857
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,242 -
Bank loans 29,788 28,484
34,030 28,484
Page 5
Page 6
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,211 -
Later than one year and not later than five years 4,242 -
6,453 -
6,453 -
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 150 150
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Patrick Williams (500 ) 6,901 - - 6,401
The above loan is unsecured, interest free and repayable on demand. The above loan was repaid to the company on 08 May 2024.
Page 6