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COMPANY REGISTRATION NUMBER: 14527339
AUBIN HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
AUBIN HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
31 Mar 24
Note
£
£
Fixed assets
Tangible assets
4
154,480
Investments
5
23,488,677
---------------
23,643,157
Current assets
Debtors
6
283,307
Cash at bank and in hand
100,826
----------
384,133
Creditors: amounts falling due within one year
7
424,695
----------
Net current liabilities
40,562
---------------
Total assets less current liabilities
23,602,595
Creditors: amounts falling due after more than one year
8
5,635,420
Provisions
9
697,721
---------------
Net assets
17,269,454
---------------
Capital and reserves
Called up share capital
11
2
Share premium account
406,148
Profit and loss account
16,863,304
---------------
Shareholders funds
17,269,454
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AUBIN HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
S. Reinton
Director
Company registration number: 14527339
AUBIN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 7th DECEMBER 2022 TO 31st MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Global House, 1 Ashley Avenue, Epsom, Surrey, KT18 5FL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the amounts receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
4. Tangible assets
Freehold investment property
£
Cost or valuation
At 7th December 2022
Additions
161,224
Revaluations
( 6,744)
----------
At 31st March 2024
154,480
----------
Carrying amount
At 31st March 2024
154,480
----------
The directors have revalued the investment property at the year end. The historic cost was £192,519.
5. Investments
Shares in group undertakings
Shares in participating interests
Other investments other than loans
Total
£
£
£
£
Cost
At 7th December 2022
Additions
406,150
150,000
26,540,248
27,096,398
Disposals
( 4,553,662)
( 4,553,662)
Revaluations
945,941
945,941
----------
----------
---------------
---------------
At 31st March 2024
406,150
150,000
22,932,527
23,488,677
----------
----------
---------------
---------------
Impairment
At 7th December 2022 and 31st March 2024
----------
----------
---------------
---------------
Carrying amount
At 31st March 2024
406,150
150,000
22,932,527
23,488,677
----------
----------
---------------
---------------
The company has a 100% interest in 2022 Aubin Ltd, whose assets were transferred to this company on a merger acquisition basis. The company also holds 37.50% interest in Allzones Limited.
6. Debtors
31 Mar 24
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
177,927
Other debtors
105,380
----------
283,307
----------
7. Creditors: amounts falling due within one year
31 Mar 24
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
406,150
Corporation tax
11,545
Other creditors
7,000
----------
424,695
----------
8. Creditors: amounts falling due after more than one year
31 Mar 24
£
Other creditors
5,635,420
-------------
9. Provisions
Deferred tax (note 10)
£
At 7th December 2022
Additions
697,721
----------
At 31st March 2024
697,721
----------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31 Mar 24
£
Included in provisions (note 9)
697,721
----------
The deferred tax account consists of the tax effect of timing differences in respect of:
31 Mar 24
£
Fair value adjustment of financial assets
717,885
Unused tax losses
( 20,164)
----------
697,721
----------
11. Called up share capital
Issued, called up and fully paid
31 Mar 24
No.
£
Ordinary shares of £ 1 each
2
2
----
----
Two ordinary shares were issued for cash during the year. The shares were issued at a premium in a share for share exchange for the shareholding in 2022 Aubin Limited.