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Registration number: 09436751

Aon2 Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Aon2 Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Aon2 Ltd.

Company Information

Directors

Mr A V V Amarra

Ms W Amarra

Registered office

Future Space Future Space
Uwe Frenchay Campus (North Entrance
Bristol
Bristol
BS34 8RB

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

Aon2 Ltd.

(Registration number: 09436751)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

167

Tangible assets

5

113,386

73,605

 

113,386

73,772

Current assets

 

Stocks

6

32,134

40,148

Debtors

7

13,206

38,391

Cash at bank and in hand

 

40,152

4,250

 

85,492

82,789

Creditors: Amounts falling due within one year

8

(99,671)

(130,534)

Net current liabilities

 

(14,179)

(47,745)

Total assets less current liabilities

 

99,207

26,027

Creditors: Amounts falling due after more than one year

8

(27,750)

(20,250)

Net assets

 

71,457

5,777

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

71,456

5,776

Shareholders' funds

 

71,457

5,777

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Aon2 Ltd.

(Registration number: 09436751)
Balance Sheet as at 29 February 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

.........................................
Mr A V V Amarra
Director

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Future Space Future Space
Uwe Frenchay Campus (North Entrance
Bristol
Bristol
BS34 8RB
United Kingdom

These financial statements were authorised for issue by the Board on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings, tools and equipment

20% / 33% Straight line dependent on expected useful life

Office equipment

25% Straight line

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

Web Site

Straight line over 5 years

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 merchandise sold or 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 1).

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Web Site
 £

Total
£

Cost or valuation

At 1 March 2023

10,000

10,000

At 29 February 2024

10,000

10,000

Amortisation

At 1 March 2023

9,833

9,833

Amortisation charge

167

167

At 29 February 2024

10,000

10,000

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

167

167

5

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

7,432

123,659

131,091

Additions

1,073

59,152

60,225

At 29 February 2024

8,505

182,811

191,316

Depreciation

At 1 March 2023

1,462

56,025

57,487

Charge for the year

1,973

18,470

20,443

At 29 February 2024

3,435

74,495

77,930

Carrying amount

At 29 February 2024

5,070

108,316

113,386

At 28 February 2023

5,970

67,635

73,605

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

32,134

40,148

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

610

-

Other debtors

 

4,679

20,425

Prepayments

 

1,365

514

Deferred tax assets

1,214

5,200

Income tax asset

5,338

12,252

 

13,206

38,391

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

14,173

4,500

Trade creditors

 

-

9,679

Amounts due to related parties

52,322

92,811

Social security and other taxes

 

254

182

Outstanding defined contribution pension costs

 

184

-

Accruals

 

32,738

23,362

 

99,671

130,534

Due after one year

 

Loans and borrowings

27,750

20,250

 

Aon2 Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.001 each

1,000

1.00

1,000

1.00