Registered number
05257252
Aura Interiors Ltd
Filleted Accounts
31 October 2023
Aura Interiors Ltd
Registered number: 05257252
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,272 4,606
Current assets
Stocks 39,000 60,000
Debtors 4 168,417 153,506
Cash at bank and in hand 39,615 32,473
247,032 245,979
Creditors: amounts falling due within one year 5 (199,988) (167,493)
Net current assets 47,044 78,486
Total assets less current liabilities 49,316 83,092
Creditors: amounts falling due after more than one year 6 (47,500) (79,075)
Provisions for liabilities (431) (875)
Net assets 1,385 3,142
Capital and reserves
Share premium 1 1
Profit and loss account 1,384 3,141
Shareholder's funds 1,385 3,142
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Netra Sood
Director
Approved by the board on 12 August 2024
Aura Interiors Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line, 25% reducing balance, and 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 23,680
At 31 October 2023 23,680
Depreciation
At 1 November 2022 19,074
Charge for the year 2,334
At 31 October 2023 21,408
Net book value
At 31 October 2023 2,272
At 31 October 2022 4,606
4 Debtors 2023 2022
£ £
Trade debtors - 8,291
Other debtors 168,417 145,215
168,417 153,506
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 30,000 53,842
Trade creditors - 72,143
Taxation and social security costs 121,151 28,502
Other creditors 48,837 13,006
199,988 167,493
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 47,500 79,075
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Netra Sood
Directors Loan 142,541 - (17,741) 124,800
142,541 - (17,741) 124,800
8 Other information
Aura Interiors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 East Close
London
W5 3HE
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