Company registration number 07834166 (England and Wales)
AURA ONLINE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
AURA ONLINE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
AURA ONLINE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
51,317
74,277
Current assets
Stocks
25,000
20,000
Debtors
5
99,363
85,274
Cash at bank and in hand
97,971
100,288
222,334
205,562
Creditors: amounts falling due within one year
6
(181,355)
(151,109)
Net current assets
40,979
54,453
Total assets less current liabilities
92,296
128,730
Creditors: amounts falling due after more than one year
7
(38,251)
(52,710)
Provisions for liabilities
(12,829)
(18,569)
Net assets
41,216
57,451
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
41,116
57,351
Total equity
41,216
57,451
AURA ONLINE 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 2 August 2024 and are signed on its behalf by:
Mr R M Evans
Director
Company registration number 07834166 (England and Wales)
AURA ONLINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Aura Online 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 other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
Over 2 years
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on cost
Fixtures and fittings
20% on cost
Computers
33% 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.
AURA ONLINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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.
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
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. This is 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis
AURA ONLINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
8
3
Intangible fixed assets
Software
£
Cost
At 1 April 2023 and 31 March 2024
19,500
Amortisation and impairment
At 1 April 2023 and 31 March 2024
19,500
Carrying amount
At 31 March 2024
At 31 March 2023
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
174,258
2,091
24,412
62,384
263,145
Additions
933
933
At 31 March 2024
174,258
2,091
25,345
62,384
264,078
Depreciation and impairment
At 1 April 2023
150,478
1,730
22,103
14,557
188,868
Depreciation charged in the year
9,530
120
1,766
12,477
23,893
At 31 March 2024
160,008
1,850
23,869
27,034
212,761
Carrying amount
At 31 March 2024
14,250
241
1,476
35,350
51,317
At 31 March 2023
23,780
361
2,309
47,827
74,277
AURA ONLINE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
87,648
60,433
Amounts owed by group undertakings
12,696
Other debtors
11,715
12,145
99,363
85,274
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
62,965
65,929
Amounts owed to group undertakings
5,304
Corporation tax
62,284
30,772
Other taxation and social security
25,914
27,501
Other creditors
24,888
26,907
181,355
151,109
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
38,251
52,710
8
Related party transactions
During the year, total dividends of £172,000 (2023 - £164,000) were paid to the directors.
During the year the company traded with Aura Security Group Limited, a company controlled by R M Evans. Purchases of goods and services made from this company during the year amounted to £90,273(2023 - £84,600), whilst sales made to this company amounted to £80,148 (2023 - £47,379).
Trade debts due to Aura Security Group Limited at the year end were £3,238 (2023 - £6,632) whilst trade debts due from Aura Security Group Limited were £7,279 (2022 - £11,964).
All goods and services were provided on normal commercial rates.
The company paid £35,400 in rent to R.M. Evans and T.E. Guest, both of whom are directors of the company.