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Registration number: 07314729

Aros Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Aros Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Aros Holdings Limited

Company Information

Directors

N S Howard

P K Smith

R M Shand

R J Clark

Company secretary

R J Clark

Registered office

63/66 Hatton Garden
Fifth Floor Suite 23
London
EC1N 8LE

 

Aros Holdings Limited

(Registration number: 07314729)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,908,044

1,908,044

Current assets

 

Debtors

5

67,406

53,769

Creditors: Amounts falling due within one year

6

(1,711,118)

(1,696,493)

Net current liabilities

 

(1,643,712)

(1,642,724)

Net assets

 

264,332

265,320

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

99,750

99,750

Retained earnings

163,582

164,570

Shareholders' funds

 

264,332

265,320

For the financial 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.

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
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for each financial year in accordancce with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

 

Aros Holdings Limited

(Registration number: 07314729)
Balance Sheet as at 31 March 2024 (continued)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
R J Clark
Company secretary and director

 

Aros Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
63/66 Hatton Garden
Fifth Floor Suite 23
London
EC1N 8LE

These financial statements were authorised for issue by the Board on 20 March 2025.

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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The exemptions under section 1A regarding cashflow statement and under s414B of the Companies Act regarding the strategic report have been taken this year.

The accounts have been prepared on a going concern basis.
 

Exemption from preparing group accounts

The financial statements contain information about Aros Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Aros Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,908,044

1,908,044

 

Aros Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 April 2023

1,908,044

Carrying amount

At 31 March 2024

1,908,044

At 31 March 2023

1,908,044

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

67,406

53,769

   

67,406

53,769

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

1,516,117

1,696,492

Accruals and deferred income

 

195,000

-

Other creditors

 

1

1

 

1,711,118

1,696,493

7

Related party transactions

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

Aros Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

51,032

51,139

Loans to related parties

2024

Key management
£

Total
£

At start of period

53,769

53,769

Advanced

57,409

57,409

Repaid

(53,769)

(53,769)

At end of period

57,409

57,409

2023

Key management
£

Total
£

Advanced

53,769

53,769

At end of period

53,769

53,769

Terms of loans to related parties

The loans to directors bear interest at 2.25% per annum and are repayable on demand