2023-02-012024-01-312024-01-31false13871433AUCTUS HOLDINGS 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AUCTUS HOLDINGS LTD

Registered Number
13871433
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

AUCTUS HOLDINGS LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Bikaramjit Dosanjh

Registered Address

272-276 Grove Green Rd,
London
E11 4EN

Registered Number

13871433 (England and Wales)
AUCTUS HOLDINGS LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks31,161,6811,161,681
Debtors30,0997,416
Cash at bank and on hand798
1,191,8591,169,105
Creditors amounts falling due within one year4(601,467)(516,603)
Net current assets (liabilities)590,392652,502
Total assets less current liabilities590,392652,502
Creditors amounts falling due after one year5(776,422)(682,000)
Net assets(186,030)(29,498)
Capital and reserves
Called up share capital9999
Profit and loss account(186,129)(29,597)
Shareholders' funds(186,030)(29,498)
The financial statements were approved and authorised for issue by the Director on 14 October 2024, and are signed on its behalf by:
Bikaramjit Dosanjh
Director
Registered Company No. 13871433
AUCTUS HOLDINGS LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.
Revenue from sale of goods
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year11
3.Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises direct materials, and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2024

2023

££
Work in progress1,161,6811,161,681
Total1,161,6811,161,681
4.Creditors: amounts due within one year

2024

2023

££
Other creditors601,467516,603
Total601,467516,603
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.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts776,422682,000
Total776,422682,000
There is a fixed and floating charge over the property by the loan provider.
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of going the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.