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Registered number: 13938824









AULUK INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
AULUK INVESTMENTS LIMITED
REGISTERED NUMBER: 13938824

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,674
-

Investments
 6 
6,108,543
26,538,643

Investment property
 7 
28,782,335
28,296,712

  
34,893,552
54,835,355

Current assets
  

Debtors: amounts falling due after more than one year
 8 
-
1,055,000

Debtors: amounts falling due within one year
 8 
224,920
149,450

Cash at bank and in hand
  
12,219,665
1,006,022

  
12,444,585
2,210,472

Creditors: amounts falling due within one year
 9 
(39,924,882)
(48,776,903)

Net current liabilities
  
 
 
(27,480,297)
 
 
(46,566,431)

  

Net assets
  
7,413,255
8,268,924


Capital and reserves
  

Called up share capital 
 10 
40
40

Profit and loss account
  
7,413,215
8,268,884

  
7,413,255
8,268,924


Page 1

 
AULUK INVESTMENTS LIMITED
REGISTERED NUMBER: 13938824
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 June 2025.




J S Auluk
Director

Page 2

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Auluk Investments Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. The Company's registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the lease.

Page 3

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
2 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgements in applying accounting policies
(i) Valuation of investment properties
The valuation of investment properties have been made by the directors based on their personal expertise and knowledge of the market.
(ii) Valuation of listed investments
The valuation of listed investments have been made by the directors based on movements in funds around the period end. The actual market value of listed investments was not available but it is not expected to be materially different to the values stated in Note 6.
b) Critical accounting estimates and assumptions
The Company does not consider there to be any critical estimates and assumptions in applying accounting policies. 


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 3).

Page 6

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office equipment

£



Cost


Additions
3,553



At 31 March 2024

3,553



Depreciation


Charge for the year on owned assets
879



At 31 March 2024

879



Net book value



At 31 March 2024
2,674



At 31 March 2023
-


6.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2023
23,399,523
3,139,120
26,538,643


Additions
405,829,670
2,500,005
408,329,675


Disposals
(428,694,224)
-
(428,694,224)


Revaluations
(65,551)
-
(65,551)



At 31 March 2024

469,418
5,639,125
6,108,543






Net book value



At 31 March 2024
469,418
5,639,125
6,108,543

Page 7

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
28,296,712


Additions at cost
485,623



At 31 March 2024
28,782,335

The 2024 valuations were deemed by the directors to be representative of market value.







8.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
-
1,055,000


2024
2023
£
£

Due within one year

Trade debtors
78,569
143,450

Other debtors
136,276
-

Prepayments and accrued income
10,075
6,000

224,920
149,450


Page 8

 
AULUK INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
84,665
-

Corporation tax
-
1,549,674

Other taxation and social security
4,846
41,005

Other creditors
39,835,371
47,124,744

Accruals and deferred income
-
61,480

39,924,882
48,776,903



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary A shares of £1.00 each
2
2
2 (2023 - 2) Ordinary B shares of £1.00 each
2
2
6 (2023 - 6) Ordinary C shares of £1.00 each
6
6
6 (2023 - 6) Ordinary D shares of £1.00 each
6
6
6 (2023 - 6) Ordinary E shares of £1.00 each
6
6
9 (2023 - 9) Ordinary F shares of £1.00 each
9
9
9 (2023 - 9) Ordinary G shares of £1.00 each
9
9

40

40



11.


Related party transactions

At the balance sheet date amounts of £35,868,897 (2023 - £44,370,661) were due to the directors. Interest of £133,995 (2023 - £166,051) has been charged. 
Amounts of £3,966,475 (
2023 - £2,034,083) were due to close family members of key management personnel. Interest of £14,811 (2023 - £7,595) has been charged.


12.


Controlling party

Mr J S Auluk and Mrs N Auluk are deemed to be the controlling parties.

 
Page 9