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Company No: 14776245 (England and Wales)

AURA PICO 1 LIMITED

Unaudited Financial Statements
For the financial period from 03 April 2023 to 30 April 2024
Pages for filing with the registrar

AURA PICO 1 LIMITED

Unaudited Financial Statements

For the financial period from 03 April 2023 to 30 April 2024

Contents

AURA PICO 1 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
AURA PICO 1 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 30.04.2024
£
Fixed assets
Investments 3 2,028,151
2,028,151
Current assets
Debtors 4 300,977
Cash at bank and in hand 966,173
1,267,150
Creditors: amounts falling due within one year 5 ( 1,335)
Net current assets 1,265,815
Total assets less current liabilities 3,293,966
Net assets 3,293,966
Capital and reserves
Called-up share capital 6 17
Profit and loss account 8 3,293,949
Total shareholder's funds 3,293,966

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Aura Pico 1 Limited (registered number: 14776245) were approved and authorised for issue by the Director on 18 October 2024. They were signed on its behalf by:

Martyn Tuffs
Director
AURA PICO 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 April 2023 to 30 April 2024
AURA PICO 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 03 April 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Aura Pico 1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is 6 Merchants Row, Caledonian Road, Bristol, BS1 6JN.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length covered is 13 months from 3 April 2023 to 30 April 2024.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
03.04.2023 to
30.04.2024
Number
Monthly average number of persons employed by the Company during the period 0

3. Fixed asset investments

Listed investments Other investments Total
£ £ £
Cost or valuation before impairment
At 03 April 2023 0 0 0
Additions 691,760 7,160 698,920
Disposals ( 1,322) 0 ( 1,322)
Movement in fair value ( 2,290) 1,332,843 1,330,553
At 30 April 2024 688,148 1,340,003 2,028,151
Carrying value at 30 April 2024 688,148 1,340,003 2,028,151

4. Debtors

30.04.2024
£
Other debtors 300,977

5. Creditors: amounts falling due within one year

30.04.2024
£
Accruals 1,199
Taxation and social security 136
1,335

6. Called-up share capital

30.04.2024
£
Allotted, called-up and fully-paid
1,680 Ordinary shares of £ 0.01 each 17

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

30.04.2024
£
Dividends received 1,964,138

During the year the company received dividend income from Aura Power Limited in which it has a 33.33% ownership.

8. Profit and loss account

Within the profit and loss account balance of £3,293,949 at 30 April 2024 £1,330,567 represents non distributable reserves as a result of the fair value gains on fixed asset investments.