2023-08-012024-07-312024-07-31false12763263AURORA RISING DEVELOPMENTS 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AURORA RISING DEVELOPMENTS LTD

Registered Number
12763263
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

AURORA RISING DEVELOPMENTS LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

K Jackson
O R Jackson

Registered Address

179 Park Lane
Poynton
Stockport
SK12 1RH

Registered Number

12763263 (England and Wales)
AURORA RISING DEVELOPMENTS LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property311,182,96211,190,887
11,182,96211,190,887
Current assets
Debtors7,46314,629
Cash at bank and on hand16,92918,698
24,39233,327
Creditors amounts falling due within one year4(1,644,745)(1,648,240)
Net current assets (liabilities)(1,620,353)(1,614,913)
Total assets less current liabilities9,562,6099,575,974
Creditors amounts falling due after one year5(7,484,719)(7,425,285)
Provisions for liabilities6(307,083)(331,664)
Net assets1,770,8071,819,025
Capital and reserves
Called up share capital22
Profit and loss account1,770,8051,819,023
Shareholders' funds1,770,8071,819,025
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2025, and are signed on its behalf by:
K Jackson
Director
O R Jackson
Director

Registered Company No. 12763263
AURORA RISING DEVELOPMENTS LTD
Notes to the Financial Statements
for the year ended 31 July 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Turnover policy
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 from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current 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 profit and loss account because of items of income or expense that are taxable or deductible in other years 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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Investment property

£
Fair value at 01 August 2311,190,887
Disposals(7,925)
At 31 July 2411,182,962
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables8207,117
Bank borrowings and overdrafts17,395-
Amounts owed to related parties1,572,5551,477,467
Other creditors48,775152,055
Accrued liabilities and deferred income5,20011,601
Total1,644,7451,648,240
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,484,7197,425,285
Total7,484,7197,425,285
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.

2024

2023

££
Net deferred tax liability (asset)307,083331,664
Total307,083331,664