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COMPANY REGISTRATION NUMBER: SC246318
Aurora Private Equity Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 March 2024
Aurora Private Equity Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Aurora Private Equity Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Debtors
5
84
279
Cash at bank and in hand
1,404
2,699
-------
-------
1,488
2,978
Creditors: amounts falling due within one year
6
1,996
2,057
-------
-------
Net current (liabilities)/assets
( 508)
921
----
----
Total assets less current liabilities
( 508)
921
----
----
Net (liabilities)/assets
( 508)
921
----
----
Capital and reserves
Profit and loss account
( 508)
921
----
----
Members (deficit)/funds
( 508)
921
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
Aurora Private Equity Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 February 2025 , and are signed on behalf of the board by:
Mr W Henderson
Director
Company registration number: SC246318
Aurora Private Equity Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is 28 Albyn Place, Aberdeen, AB10 1YL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. 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 Going concern The Board of Directors confirms that, after making appropriate enquiries, it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing these Financial Statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents fees received and receivable from members in the financial year. Other operating income represents levies charged to members in relation to investments made by members following introduction by the company.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Company limited by guarantee
The company is limited by guarantee and has no share capital. The liability of the members is limited to £5 each.
5. Debtors
2024
2023
£
£
Trade debtors
84
279
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,996
2,057
-------
-------
7. Directors' advances, credits and guarantees
The company was under the control of the directors throughout the current and previous year. At the year end, certain of the directors were due to receive £1,000 from the company (2023 - £1,000) which is included in Creditors; Amounts falling due within one year. These loans have no set repayment terms and do not attract interest.
8. Controlling party
The directors consider there to be no ultimate controlling party.