Company Registration No. 10126370 (England and Wales)
Aureum Advisory Ltd
Unaudited accounts
for the year ended 30 April 2024
Aureum Advisory Ltd
Unaudited accounts
Contents
Aureum Advisory Ltd
Company Information
for the year ended 30 April 2024
Directors
Mr R D de Laszlo
Mrs L M A de Laszlo
Secretary
Wellco Secretaries Ltd
Company Number
10126370 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Aureum Advisory Ltd for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Aureum Advisory Ltd for the year ended
30 April 2024 as set out on pages
5 -
10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Wellden Turnbull Limited
Chartered Accountants
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
17 July 2024
Aureum Advisory Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
11,793
4,819
Cash at bank and in hand
1,278,654
1,264,067
Creditors: amounts falling due within one year
(316,198)
(221,252)
Net current assets
1,152,572
1,236,584
Net assets
1,164,365
1,241,403
Called up share capital
100
100
Profit and loss account
1,164,265
1,241,303
Shareholders' funds
1,164,365
1,241,403
For the year ending 30 April 2024 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 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 of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by
Mr R D de Laszlo
Director
Company Registration No. 10126370
Aureum Advisory Ltd
Notes to the Accounts
for the year ended 30 April 2024
Aureum Advisory Ltd is a private company, limited by shares, registered in England and Wales, registration number 10126370. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
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.
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 of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Foreign currency translation
Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.
Aureum Advisory Ltd
Notes to the Accounts
for the year ended 30 April 2024
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Aureum Advisory Ltd
Notes to the Accounts
for the year ended 30 April 2024
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Aureum Advisory Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
8,863
27,247
36,110
Additions
555
11,046
11,601
At 30 April 2024
9,418
38,293
47,711
At 1 May 2023
8,569
22,722
31,291
Charge for the year
372
4,255
4,627
At 30 April 2024
8,941
26,977
35,918
At 30 April 2024
477
11,316
11,793
At 30 April 2023
294
4,525
4,819
Amounts falling due within one year
Accrued income and prepayments
180,982
179,909
Other debtors
9,134
13,860
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
310,683
217,691
Allotted, called up and fully paid:
76 A Ordinary shares of £1 each
76
76
24 B Ordinary shares of £1 each
24
24
8
Operating lease commitments
2024
2023
At 30 April 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
9,000
9,000
Aureum Advisory Ltd
Notes to the Accounts
for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).