2023-08-012024-07-312024-07-31false12085377AURORA RISING 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AURORA RISING LTD

Registered Number
12085377
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

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

Directors

K Jackson
O Jackson

Registered Address

179 Park Lane
Poynton
SK12 1RH

Registered Number

12085377 (England and Wales)
AURORA RISING LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4192,430136,425
Investments6-1,350,190
Investment property59,668,2309,406,493
9,860,66010,893,108
Current assets
Stocks7174,281-
Debtors81,505,57883,350
Cash at bank and on hand81,21731,690
1,761,076115,040
Creditors amounts falling due within one year9(4,707,654)(2,964,052)
Net current assets (liabilities)(2,946,578)(2,849,012)
Total assets less current liabilities6,914,0828,044,096
Creditors amounts falling due after one year10(5,605,441)(6,444,177)
Provisions for liabilities11(365,692)(333,045)
Net assets942,9491,266,874
Capital and reserves
Called up share capital22
Profit and loss account942,9471,266,872
Shareholders' funds942,9491,266,874
The financial statements were approved and authorised for issue by the Board of Directors on 25 March 2025, and are signed on its behalf by:
O Jackson
Director
Registered Company No. 12085377
AURORA RISING 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 directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
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
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Vehicles3
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 August 23152,50010,137162,637
Additions125,000-125,000
At 31 July 24277,50010,137287,637
Depreciation and impairment
At 01 August 2316,9439,26926,212
Charge for year68,18880768,995
At 31 July 2485,13110,07695,207
Net book value
At 31 July 24192,36961192,430
At 31 July 23135,557868136,425
5.Investment property

£
Fair value at 01 August 239,406,493
Additions261,737
At 31 July 249,668,230
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 August 231,350,1901,350,190
Disposals(1,350,190)(1,350,190)
Net book value
At 31 July 24--
At 31 July 231,350,1901,350,190

Notes

1Other investments other than loans
7.Stocks
Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises direct materials, and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

2024

2023

££
Work in progress174,281-
Total174,281-
8.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,02310,115
Amounts owed by group undertakings40,286-
Other debtors1,451,26969,089
Prepayments and accrued income-4,146
Total1,505,57883,350
Short term trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
9.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-22,210
Bank borrowings and overdrafts1,463,77429,182
Amounts owed to related parties383,892168,402
Other creditors2,859,9882,744,258
Total4,707,6542,964,052
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.
10.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,325,2016,315,208
Other creditors280,240128,969
Total5,605,4416,444,177
11.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)365,692333,045
Total365,692333,045