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Registered number: 09079159
Arona Enterprises Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Cairns Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09079159
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,061 538
1,061 538
CURRENT ASSETS
Debtors 5 15,699 33,704
Cash at bank and in hand 44,317 40,649
60,016 74,353
Creditors: Amounts Falling Due Within One Year 6 (65,072 ) (59,862 )
NET CURRENT ASSETS (LIABILITIES) (5,056 ) 14,491
TOTAL ASSETS LESS CURRENT LIABILITIES (3,995 ) 15,029
Creditors: Amounts Falling Due After More Than One Year 7 (8,305 ) (18,560 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (201 ) (102 )
NET LIABILITIES (12,501 ) (3,633 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (12,502 ) (3,634 )
SHAREHOLDERS' FUNDS (12,501) (3,633)
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Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Clive Perrozzi
Director
20/02/2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Arona Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09079159 . The registered office is Suite 27, Lion Works, Kelham Island, Sheffield, S3 8DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 3)
1 3
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 496 384 903 1,783
Additions - 762 - 762
As at 30 June 2024 496 1,146 903 2,545
Depreciation
As at 1 July 2023 407 199 639 1,245
Provided during the period 22 151 66 239
As at 30 June 2024 429 350 705 1,484
Net Book Value
As at 30 June 2024 67 796 198 1,061
As at 1 July 2023 89 185 264 538
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,427 32,710
Prepayments and accrued income 1,272 994
15,699 33,704
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,857 10,604
Other taxes and social security - 1,000
VAT 7,965 13,823
Accruals and deferred income 1,050 1,875
Director's loan account 45,200 32,560
65,072 59,862
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,305 18,560
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.000 each 1 1
9. Ultimate Controlling Party
The company's ultimate controlling party is Clive Perrozzi by virtue of his ownership of 100% of the issued share capital in the company.
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