Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Tristan Paul Cutler 01/11/2013 Ian Patrick Roche 01/05/2024 11/06/2008 11 April 2025 The principal activity of the Company continued to be that of the development of oil and gas opportunities in the UK. SC335749 2024-12-31 SC335749 bus:Director1 2024-12-31 SC335749 bus:Director2 2024-12-31 SC335749 core:CurrentFinancialInstruments 2024-12-31 SC335749 core:CurrentFinancialInstruments 2023-12-31 SC335749 2023-12-31 SC335749 core:ShareCapital 2024-12-31 SC335749 core:ShareCapital 2023-12-31 SC335749 core:SharePremium 2024-12-31 SC335749 core:SharePremium 2023-12-31 SC335749 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC335749 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC335749 bus:OrdinaryShareClass1 2024-12-31 SC335749 bus:OrdinaryShareClass2 2024-12-31 SC335749 2024-01-01 2024-12-31 SC335749 bus:FilletedAccounts 2024-01-01 2024-12-31 SC335749 bus:SmallEntities 2024-01-01 2024-12-31 SC335749 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC335749 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC335749 bus:Director1 2024-01-01 2024-12-31 SC335749 bus:Director2 2024-01-01 2024-12-31 SC335749 2023-01-01 2023-12-31 SC335749 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 SC335749 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC335749 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC335749 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 SC335749 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC335749 (Scotland)

AURORA ENERGY RESOURCES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

AURORA ENERGY RESOURCES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

AURORA ENERGY RESOURCES LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
AURORA ENERGY RESOURCES LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Current assets
Debtors 3 18,887 7,861
Cash at bank and in hand 1,168,554 1,580,198
1,187,441 1,588,059
Creditors: amounts falling due within one year 4 ( 13,931) ( 1,174,403)
Net current assets 1,173,510 413,656
Total assets less current liabilities 1,173,510 413,656
Net assets 1,173,510 413,656
Capital and reserves
Called-up share capital 5 6,824 6,724
Share premium account 10,145,294 9,294,314
Profit and loss account ( 8,978,608 ) ( 8,887,382 )
Total shareholders' funds 1,173,510 413,656

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Aurora Energy Resources Limited (registered number: SC335749) were approved and authorised for issue by the Director on 11 April 2025. They were signed on its behalf by:

Tristan Paul Cutler
Director
AURORA ENERGY RESOURCES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
AURORA ENERGY RESOURCES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aurora Energy Resources Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 28 Albyn Place, Aberdeen, AB10 1YL, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. While a loss has been incurred in the year, the Company has a strong balance sheet position with net assets of £1,173,510 (2023 - £413,656) and cash of £1,168,554 (2023 - £1,580,198). The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents income from recharging project management costs, excluding value added tax, and is recognised when the Company has earned the right to consideration and the costs to be recharged have been incurred.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company, including directors who served, during the year 2 3

3. Debtors

2024 2023
£ £
Other debtors 18,887 7,861

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 9,247 13,975
Other creditors 4,684 1,160,428
13,931 1,174,403

There are no amounts included above in respect of which any security has been given by the small entity.

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
672,412 Ordinary shares of £ 0.01 each 6,724 6,724
100 A ordinary shares of £ 1.00 each (2023: nil shares) 100 0
6,824 6,724

In the financial year 2024 class A shares were allotted with an aggregate nominal value of £100, and consideration of £851,080 was received.