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AUB Enterprises Limited
 
 
Company Registration Number
04669879
 
 
Report of the Directors and
Audited Financial Statements
 
 
Period of accounts
 
Start date 01/08/2023
 
End date 31/07/2024
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 1
AUB Enterprises Limited
 
Contents of the Financial Statements
for the Period Ended 31 July 2024
 
 
Page
Company Information 3
 
Report of the Directors 4
 
Report of the Auditors 5
 
Profit and Loss Account 6
 
Balance Sheet 7 - 8
 
Notes to the Financial Statements 9 - 14
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 2
AUB Enterprises Limited
Company Information
for the Period Ended 31 July 2024
 
Directors Professor Paul Gough
Dorothy Mackenzie
 
Company secretary Jon Renyard
 
Registered office Fern Barrow
Wallisdown
Poole
Dorset BH12 5HH
 
Company Registration Number 04669879
 
Auditors Name Sedulo Audit Limited
Address Office 605
Albert House
256-260 Old Street
London
EC1V 9DD
 
Bankers Name Lloyds Banking Group PLC
Address 45/47 Old Christchurch Road
Bournemouth
Dorset
BH1 1ED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 3
AUB Enterprises Limited
Directors Report
for the Period Ended 31 July 2024
The directors present their report with the financial statements of the company for the
period ended 31 July 2024
Principal activities
The principal activity of the company in the period under review was
to provide accommodation for University staff and third parties associated with the creative industries.
Directors
The director(s) shown below have held office during the whole of the period
Professor Paul Gough
Dorothy Mackenzie
 
Disclosure of information to auditors
To the knowledge and belief of the director(s), there is no relevant information that the company's auditors are not aware of, and the director(s) have taken all the steps necessary to ensure the director is aware of any relevant information, and to establish that the company's auditors are aware of the information.
Small Company Provisions
These accounts have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
 
This report was approved by the board of directors on 2024-11-28
and signed on behalf of the board by
Name Professor Paul Gough
Status Director
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 4
AUB Enterprises Limited
Auditors' Report
for the Period Ended 31 July 2024
 
Independent auditors' report
We have audited the financial statements of AUB Enterprises Limited for the year ended 31 July 2024
which comprise the Profit and Loss Account, the Balance Sheet and the related notes. These financial
statements have been prepared under the accounting policies set out therein.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
 
Respective responsibilities of directors and auditors
The directors' responsibilities for preparing the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice) are set out in the Statement of Directors' Responsibilities. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 2006. We also report to you whether in our opinion the information given in the Directors' Report is consistent with the financial statements. In addition we report to you if, in our opinion, the company has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and other transactions is not disclosed. We read the Directors' Report and consider the implications for our report if we become aware of any apparent misstatements within it.
 
Basis of audit opinion
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the
Auditing Practices Board An audit includes examination, on a test basis, of evidence relevant to the amounts
and disclosures in the financial statements. It also includes an assessment of the significant estimates and
judgments made by the directors in the preparation of the financial statements, and of whether the accounting
policies are appropriate to the company's circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered
necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial
statements are free from material misstatement, whether caused by fraud or other irregularity or error. In
forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial
statements.
 
Opinion
In our opinion the financial statements give a true and fair view, in accordance with UK Generally Accepted Accounting Practice, of the state of the company's affairs as at 31 July 2024 and of its profit for the period then ended, the financial statements have been properly prepared in accordance with the Companies Act 2006, and the information given in the Directors' Report is consistent with the financial statements.
 
Diccon Thornely
Sedulo Audit Limited
Registered Auditor
London EC1V 9DD
Date 2024-12-05 Page 5
AUB Enterprises Limited
 
Profit and Loss Account
for the Period Ended 31 July 2024
2024 2,023
Notes £ £
 
Turnover 2 275,083 275,093
______ ______
Gross Profit/(Loss) 275,083 275,093
 
Administrative expenses 311,774 289,584
______ ______
Operating costs 311,774 289,584
 
______ ______
Operating Profit/(Loss) 3 (36,691) (14,491)
______ ______
Interest receivable and similar 592
______ ______
Net Finance income/(Loss) 592 0
______ ______
Profit/(Loss) on ordinary activities before taxation (36,099) (14,491)
 
Tax on profit on ordinary activities 4 19,405 26,389
______ ______
Profit/(Loss) for the financial period after taxation (55,504) (40,880)
There were no recognised gains or losses other than the profit/(loss) shown attributable to the
shareholders for the period ended 31 July 2024
 
The notes form part of these financial statements
 
 
 
 
 
 
 
 
Page 6
AUB Enterprises Limited
Balance Sheet
for the Period Ended 31 July 2024
Company registration number 04669879
2024 2,023
Notes £ £
Fixed assets
Tangible fixed assets 5 3,503,166 3,677,532
_______ _______
Total fixed assets 3,503,166 3,677,532
Current assets
Cash at bank and in hand 17,233 8,950
_______ _______
Total current assets/(liabilities) 17,233 8,950
Creditors
Creditors - amounts falling
due within one year 6 2,165,670 2,254,904
_______ _______
Net current assets (2,148,437) (2,245,954)
_______ _______
Total assets less current liabilities 1,354,729 1,431,578
_______ _______
Creditors - amounts falling
due after more than one year 7 1,603,580 1,624,925
_______ _______
Long term creditors 1,603,580 1,624,925
_______ _______
Net assets/(liabilities) (248,851) (193,347)
Capital and reserves
Called up share capital 8 2 2
Profit and loss account 9 (862,974) (845,559)
Revaluation reserve 9 614,121 652,210
_______ _______
Total funds (248,851) (193,347)
 
 
 
 
 
 
 
 
Page 7
AUB Enterprises Limited
 
Balance Sheet
for the Period Ended 31 July 2024
 
 
 
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
 
The financial statements were approved by the Board of Directors on 2024-11-28
 
SIGNED ON BEHALF OF THE BOARD BY
 
 
 
 
 
 
 
Name Professor Paul Gough
 
The notes form part of these financial statements
 
Average number of employees during period 0
 
 
 
 
 
 
 
 
 
 
 
Page 8
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime.
Going Concern
The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors,which has been confirmed for a period of at least twelve months from the approval of the financial statements.Accordingly the directors have prepared the financial statements on the going concern basis.
Turnover
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.
Tangible fixed assets Depreciation
Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings useful economic life as determined by the valuers, the average being 90 years
Fixtures and fittings 10 years
Office equipment 3 to 10 years
Plant and machinery 15 years
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 9
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
2. Turnover 2024 2,023
£ £
United Kingdom 275,083 275,093
______ ______
Total 275,083 275,093
3. Operating profit/(loss) 2024 2,023
Profit before tax as stated after charging the following £ £
Depreciation - owned assets 174,366 174,366
Accountants and audit fees 2,268 2,772
4. Taxation
The tax charge on the profit on ordinary activities 2024 2,023
for the period was as follows £ £
UK Corporation Tax net of reliefs 21,291 23,395
Deferred Tax (1,886) 2,994
_____ _____
Tax on profit on ordinary activities 19,405 26,389
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 10
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
5. Tangible fixed assets
Land and Office Total
buildings equipment
Cost £ £ £
At 1 August 2023 5,072,626 205,192 5,277,818
_______ ______ _______
At 31 July 2024 5,072,626 205,192 5,277,818
Depreciation
At 1 August 2023 1,395,094 205,192 1,600,286
Charge for year 174,366 174,366
_______ ______ _______
At 31 July 2024 1,569,460 205,192 1,774,652
Net book value
At 31 July 2024 3,503,166 0 3,503,166
At 31 July 2023 3,677,532 0 3,677,532
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 11
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
6. Creditors amounts falling due within one year 2024 2,023
Amounts owed to group undertakings 2,108,412 2,198,239
Corporation tax 21,291 23,395
Other taxation and social security 889 979
Accruals and deferred income 15,620 12,833
Other creditors 19,458 19,458
_______ _______
Total 2,165,670 2,254,904
7. Creditors amounts falling due after more than one year 2024 2,023
Other creditors 1,603,580 1,624,925
_______ _______
Total 1,603,580 1,624,925
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 12
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
8. Share capital 2024 2,023
Authorised type Par value £ £
Ordinary Shares 1.00 100 100
___ ___
Total 100 100
Allotted, called up and paid £ £
Ordinary Shares 2 2
_ _
Total 2 2
9. Reserves/Retained profit
Retained profit reconciliation £
Reserves at 1 August 2023 (845,559)
Profit/(Loss) for year (55,504)
Other adjustments 38,089
Dividends paid
_______
Retained Profit/(Loss) at 31 July 2024 (862,974)
Revaluation reserve £
At 1 August 2023 652,210
Surplus or deficit arising from revaluation (38,089)
______
Reserve at 31 July 2024 614,121
 
 
 
 
 
 
 
 
Page 13
AUB Enterprises Limited
Notes to the Financial Statements
for the Period Ended 31 July 2024
 
10. Related party transactions
 
The Arts University Bournemouth prepares group financial statements which are available fromArts University Bournemouth, WallisdownPoole, Dorset BH12 5HHThe company has taken advantage of the exemption conferred by FRS 102 not to disclose transactions with members of thegroup headed by the Arts University Bournemouth on the grounds that it is a wholly owned subsidiary within the group and thecompany is included in consolidated financial statements. The company has entered into no other related party transactions in
the year ended 31 July 2024.
 
11. Capital commitments
£
At 1 August 2023
 
At 31 July 2024
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Page 14