AUB Enterprises Limited |
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Directors Report |
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for the Period Ended 31 July 2024 |
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The directors present their report with the financial statements of the company for the |
period ended 31 July 2024 |
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Principal activities |
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The principal activity of the company in the period under review was |
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to provide accommodation for University staff and third parties associated with the creative industries. |
Directors |
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The director(s) shown below have held office during the whole of the period |
Professor Paul Gough |
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Dorothy Mackenzie |
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Disclosure of information to auditors |
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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 |
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These accounts have been prepared in accordance with the provisions applicable to |
companies subject to the small companies regime. |
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This report was approved by the board of directors on |
2024-11-28 |
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and signed on behalf of the board by |
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Name |
Professor Paul Gough |
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Status |
Director |
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Page 4 |
AUB Enterprises Limited |
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Auditors' Report |
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for the Period Ended 31 July 2024 |
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Independent auditors' report |
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We have audited the financial statements of AUB Enterprises Limited for the year ended 31 July 2024 |
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which comprise the Profit and Loss Account, the Balance Sheet and the related notes. These financial |
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statements have been prepared under the accounting policies set out therein. |
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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. |
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Respective responsibilities of directors and auditors |
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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. |
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Basis of audit opinion |
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We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the |
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Auditing Practices Board An audit includes examination, on a test basis, of evidence relevant to the amounts |
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and disclosures in the financial statements. It also includes an assessment of the significant estimates and |
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judgments made by the directors in the preparation of the financial statements, and of whether the accounting |
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policies are appropriate to the company's circumstances, consistently applied and adequately disclosed. |
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We planned and performed our audit so as to obtain all the information and explanations which we considered |
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necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial |
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statements are free from material misstatement, whether caused by fraud or other irregularity or error. In |
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forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial |
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statements. |
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Opinion |
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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. |
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Diccon Thornely |
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Sedulo Audit Limited |
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Registered Auditor |
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London EC1V 9DD |
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Date |
2024-12-05 |
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Page 5 |
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AUB Enterprises Limited |
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Profit and Loss Account |
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for the Period Ended 31 July 2024 |
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2024 |
2,023 |
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Notes |
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Turnover |
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2 |
275,083 |
275,093 |
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______ |
______ |
Gross Profit/(Loss) |
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275,083 |
275,093 |
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Administrative expenses |
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311,774 |
289,584 |
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______ |
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Operating costs |
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311,774 |
289,584 |
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Operating Profit/(Loss) |
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3 |
(36,691) |
(14,491) |
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______ |
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Interest receivable and similar |
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592 |
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Net Finance income/(Loss) |
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592 |
0 |
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Profit/(Loss) on ordinary activities before taxation |
(36,099) |
(14,491) |
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Tax on profit on ordinary activities |
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4 |
19,405 |
26,389 |
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______ |
Profit/(Loss) for the financial period after taxation |
(55,504) |
(40,880) |
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There were no recognised gains or losses other than the profit/(loss) shown attributable to the |
shareholders for the period ended 31 July 2024 |
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The notes form part of these financial statements |
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Page 6 |
AUB Enterprises Limited |
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Notes to the Financial Statements |
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for the Period Ended 31 July 2024 |
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1. Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with the small companies regime. |
Going Concern |
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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 |
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The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT. |
Tangible fixed assets Depreciation |
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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 |
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useful economic life as determined by the valuers, the average being 90 years |
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Fixtures and fittings |
10 years |
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Office equipment |
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3 to 10 years |
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Plant and machinery |
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15 years |
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Deferred taxation |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Page 9 |
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AUB Enterprises Limited |
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Notes to the Financial Statements |
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for the Period Ended 31 July 2024 |
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2. Turnover |
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2024 |
2,023 |
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United Kingdom |
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275,083 |
275,093 |
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Total |
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275,083 |
275,093 |
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3. Operating profit/(loss) |
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2024 |
2,023 |
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Profit before tax as stated after charging the following |
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£ |
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Depreciation - owned assets |
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174,366 |
174,366 |
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Accountants and audit fees |
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2,268 |
2,772 |
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4. Taxation |
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The tax charge on the profit on ordinary activities |
2024 |
2,023 |
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for the period was as follows |
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UK Corporation Tax net of reliefs |
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21,291 |
23,395 |
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Deferred Tax |
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(1,886) |
2,994 |
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_____ |
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Tax on profit on ordinary activities |
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19,405 |
26,389 |
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Page 10 |
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