Registration number:
Annual Report and
for the Year Ended
Aronova Holdings Limited
(Registration number: 04685856)
Balance sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Share capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and loss account.
The financial statements of Aronova Holdings Limited were approved and authorised for issue by the
.........................................
Director
Aronova Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 December 2023
General information |
Aronova Holdings Limited ("the company") is a incorporated in England and Wales, the England and Wales under the Companies Act.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Exemption from preparing group accounts
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Intangible assets
Intellectual Property Rights are shown at historical cost.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intellectual Property Rights |
10% on straight line basis |
Aronova Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Borrowings are accounted on the basis of transaction value. Any repayment due over a period of 12 months is classified as long term borrowings.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Aronova Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 December 2023 (continued)
Intangible assets |
Intellectual Property Rights |
Total |
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Cost |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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Amortisation charge |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Intellectual property rights comprise of intellectual property rights, related to "Global Limits Manager", valued at £326,000, acquired in April 2015 from AIG Receivables Management Limited in exchange of 65% of the shares and 49% of the voting rights the company held in in AIG Receivables Management Limited. The associated legal charges of £1,080 have also been added to the value of the intellectual property rights.
The intellectual property rights are amortised over a ten year period.
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Aronova Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 December 2023 (continued)
5 |
Investments (continued) |
Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2023 |
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Provision |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade payables |
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- |
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Amounts due to related parties |
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Accruals |
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Share capital and reserves |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Aronova Holdings Limited
Notes to the Financial Statements
for the Year Ended 31 December 2023 (continued)
Dividends |
2023 |
2022 |
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£ |
£ |
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Interim dividend of £ |
250,000 |
500,000 |