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Registered number: 13187776
Aurora Refinishing Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Shaw Austin
Chartered Accountants
45 City Road
Chester
CH1 3AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13187776
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,628 12,952
12,628 12,952
CURRENT ASSETS
Stocks 5 4,400 1,300
Debtors 6 185 3,860
Cash at bank and in hand 11,093 17,406
15,678 22,566
Creditors: Amounts Falling Due Within One Year 7 (22,957 ) (17,867 )
NET CURRENT ASSETS (LIABILITIES) (7,279 ) 4,699
TOTAL ASSETS LESS CURRENT LIABILITIES 5,349 17,651
NET ASSETS 5,349 17,651
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 5,348 17,650
SHAREHOLDERS' FUNDS 5,349 17,651
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
R L Jones
Director
2 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Aurora Refinishing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13187776 . The registered office is Unit 16 Spencer Industrial Estate, Standard Road, Buckley, CH7 3LY.
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 presentational currency is £ Sterling and all amounts are rounded to the nearest £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of automotive painting and body repair. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. 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% on cost
Motor Vehicles 25% on net book value
Office Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
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 years 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.
Current tax for the year is recognised in profit or loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current 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: 1 (2023: 1)
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4. Tangible Assets
Plant & Machinery Motor Vehicles Office Equipment Total
£ £ £ £
Cost
As at 1 March 2023 14,942 4,950 650 20,542
Additions 4,404 - - 4,404
As at 29 February 2024 19,346 4,950 650 24,946
Depreciation
As at 1 March 2023 5,099 2,166 325 7,590
Provided during the period 3,869 696 163 4,728
As at 29 February 2024 8,968 2,862 488 12,318
Net Book Value
As at 29 February 2024 10,378 2,088 162 12,628
As at 1 March 2023 9,843 2,784 325 12,952
5. Stocks
2024 2023
£ £
Stock 4,400 1,300
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 185 3,860
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,113 -
Trade creditors 1,618 137
Other creditors 18,144 14,446
Taxation and social security 2,082 3,284
22,957 17,867
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,113 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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10. Related Party Transactions
The director has made an interest free loan available to the company of £17,033 (2023 - £13,307) which is repayable on demand.
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