2023-09-012024-08-312024-08-31false12176670AURORA RISING DESIGN AND BUILD 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AURORA RISING DESIGN AND BUILD LTD

Registered Number
12176670
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

AURORA RISING DESIGN AND BUILD LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

K Jackson
O R Jackson

Registered Address

179 Park Lane
Poynton
SK12 1RH

Registered Number

12176670 (England and Wales)
AURORA RISING DESIGN AND BUILD LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,9133,845
1,9133,845
Current assets
Stocks4179,72892,896
Debtors51,876,5761,723,226
Cash at bank and on hand12,37737,507
2,068,6811,853,629
Creditors amounts falling due within one year6(2,646,210)(2,189,200)
Net current assets (liabilities)(577,529)(335,571)
Total assets less current liabilities(575,616)(331,726)
Creditors amounts falling due after one year7(82,602)(189,521)
Net assets(658,218)(521,247)
Capital and reserves
Called up share capital22
Profit and loss account(658,220)(521,249)
Shareholders' funds(658,218)(521,247)
The financial statements were approved and authorised for issue by the Board of Directors on 24 March 2025, and are signed on its behalf by:
O R Jackson
Director
Registered Company No. 12176670
AURORA RISING DESIGN AND BUILD LTD
Notes to the Financial Statements
for the year ended 31 August 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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.
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.
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.
Employee benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet.
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.
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)
Office Equipment3
Finance leases and hire purchase contracts
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases. Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
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.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 237,9997,999
At 31 August 247,9997,999
Depreciation and impairment
At 01 September 234,1544,154
Charge for year1,9321,932
At 31 August 246,0866,086
Net book value
At 31 August 241,9131,913
At 31 August 233,8453,845
4.Stocks

2024

2023

££
Work in progress179,72892,896
Total179,72892,896
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings1,865,1171,712,199
Amounts owed by associates and joint ventures / participating interests-400
Other debtors11,45910,627
Total1,876,5761,723,226
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.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-6,450
Bank borrowings and overdrafts12,99421,053
Amounts owed to related parties547,753574,260
Taxation and social security-23,164
Finance lease and HP contracts96,75796,757
Other creditors1,988,7061,467,516
Total2,646,2102,189,200
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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,23917,400
Other creditors75,363172,121
Total82,602189,521
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts75,363172,121
9.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.