Registered number
08481874
AUM EMPIRE LIMITED
Filleted Accounts
30 April 2024
AUM EMPIRE LIMITED
Registered number: 08481874
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,357,859 1,367,789
Current assets
Debtors 4 (16,571) (18,333)
Cash at bank and in hand 423,790 389,582
407,219 371,249
Creditors: amounts falling due within one year 5 (44,283) (40,864)
Net current assets 362,936 330,385
Total assets less current liabilities 1,720,795 1,698,174
Creditors: amounts falling due after more than one year 6 (931,729) (930,223)
Net assets 789,066 767,951
Capital and reserves
Called up share capital 150 150
Revaluation reserve 7 620,000 620,000
Profit and loss account 168,916 147,801
Shareholders' funds 789,066 767,951
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr A Patel
Director
Approved by the board on 14 August 2024
AUM EMPIRE LIMITED
Notes to the Accounts
for the year ended 30 April 2024
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:
Freehold buildings 1% Straight line
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2023 1,425,840
At 30 April 2024 1,425,840
Depreciation
At 1 May 2023 58,051
Charge for the year 5,590
Surplus on revaluation 4,340
At 30 April 2024 67,981
Net book value
At 30 April 2024 1,357,859
At 30 April 2023 1,367,789
Freehold land and buildings: 2024 2023
£ £
Historical cost 580,183 580,183
Cumulative depreciation based on historical cost 30,380 26,040
549,803 554,143
4 Debtors 2024 2023
£ £
Trade debtors (17,563) (18,333)
Other debtors 992 -
(16,571) (18,333)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 13,886 12,702
Taxation and social security costs 9,407 10,856
Other creditors 20,990 17,306
44,283 40,864
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 585,000 585,000
Other creditors 346,729 345,223
931,729 930,223
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 620,000 620,000
At 30 April 2024 620,000 620,000
8 Other information
AUM EMPIRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
7 Windrush Close
Downhead Park
Milton Keynes
MK15 9BN
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