Company registration number 04753174 (England and Wales)
AURA SECURITY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
AURA SECURITY GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
AURA SECURITY GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
429,914
551,844
Current assets
Stocks
85,000
80,000
Debtors
5
319,845
222,346
Cash at bank and in hand
296,787
356,775
701,632
659,121
Creditors: amounts falling due within one year
6
(414,584)
(372,185)
Net current assets
287,048
286,936
Total assets less current liabilities
716,962
838,780
Creditors: amounts falling due after more than one year
7
(179,134)
(277,901)
Provisions for liabilities
(99,567)
(128,714)
Net assets
438,261
432,165
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
437,261
431,165
Total equity
438,261
432,165
AURA SECURITY GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 8 August 2024 and are signed on its behalf by:
Mr R M Evans
Mr T E Guest
Director
Director
Company registration number 04753174 (England and Wales)
AURA SECURITY GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2022
1,000
389,731
390,731
Year ended 31 March 2023:
Profit and total comprehensive income
-
241,434
241,434
Dividends
-
(200,000)
(200,000)
Balance at 31 March 2023
1,000
431,165
432,165
Year ended 31 March 2024:
Profit and total comprehensive income
-
306,096
306,096
Dividends
-
(300,000)
(300,000)
Balance at 31 March 2024
1,000
437,261
438,261
AURA SECURITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Aura Security Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Bridgegate Business Park, Gatehouse Way, Aylesbury, Buckinghamshire, HP19 8XN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has being amortised evenly over its estimated useful life of three years.
Goodwill
33% straight line
1.4
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements
20% on cost
Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Motor vehicles
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
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. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
AURA SECURITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period which they relate.
1.8
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts of finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
16
13
AURA SECURITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
145,950
Amortisation and impairment
At 1 April 2023 and 31 March 2024
145,950
Carrying amount
At 31 March 2024
At 31 March 2023
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
96,550
1,116,232
1,212,782
Additions
34,870
34,870
Disposals
(16,915)
(16,915)
At 31 March 2024
96,550
1,134,187
1,230,737
Depreciation and impairment
At 1 April 2023
88,182
572,756
660,938
Depreciation charged in the year
2,092
154,707
156,799
Eliminated in respect of disposals
(16,914)
(16,914)
At 31 March 2024
90,274
710,549
800,823
Carrying amount
At 31 March 2024
6,276
423,638
429,914
At 31 March 2023
8,368
543,476
551,844
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
286,867
204,750
Amounts owed by group undertakings
5,304
Other debtors
27,674
17,596
319,845
222,346
AURA SECURITY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
54,475
101,440
Amounts owed to group undertakings
12,696
Corporation tax
141,849
8,295
Other taxation and social security
99,250
47,552
Other creditors
119,010
202,202
414,584
372,185
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
179,134
277,901
8
Related party transactions
During the year, total dividends of £300,000 (2023 - £200,000) were paid to the directors.
The company rents commercial premises owned by R M Evans and T E Guest, both of whom are directors of the company. The rent paid in the year amounted to £30,300 (2023 - £31,200).
During the year the company traded with Aura Online Limited, a company controlled by R M Evans and T E Guest. Sales made to this company during the year amounted to £90,273 (2023 - £84,600), whilst purchases from this company amounted to £80,148 (2023 - £47,379).
Trade debts due from Aura Online Limited at the year end were £3,238 (2023 - £6,632) whilst trade debts due to Aura Online Limited were £7,279 (2023 - £11,964).
All goods and services were provided on normal commercial rates.
9
Parent company
The company is controlled by R M Evans by virtue of his controlling interest in the issued share capital of the company.