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Registered number: 06303983
AUJLA (UK) LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
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AUJLA (UK) LIMITED
REGISTERED NUMBER: 06303983
STATEMENT OF FINANCIAL POSITION
AS AT 30 JULY 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Investment property reserve
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AUJLA (UK) LIMITED
REGISTERED NUMBER: 06303983
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JULY 2019
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 period 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 comprehensive income 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 by:
................................................
Mr A M Fox
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The notes on pages 5 to 9 form part of these financial statements.
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AUJLA (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JULY 2019
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Investment property revaluation reserve
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At 1 August 2018 (as previously stated)
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At 1 August 2018 (as restated)
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Comprehensive income for the period
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Total comprehensive income for the period
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Dividends: Equity capital
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The notes on pages 5 to 9 form part of these financial statements.
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AUJLA (UK) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2018
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Investment property revaluation reserve
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Comprehensive income for the year
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Transfer of non-distributable revaluation loss (net of deferred tax)
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Transfer from retained earnings
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Total comprehensive income for the year
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Dividends: Equity capital
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The notes on pages 5 to 9 form part of these financial statements.
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AUJLA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
Aujla (UK) Limited is a private limited company incorporated in England.
Registered Office:
Unit 20 Merlin Way
Quarry Hill Industrial Park
Ilkeston
Derby
DE7 4RA
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Finance costs are charged to the Statement of comprehensive income 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.
All borrowing costs are recognised in the Statement of comprehensive income in the period in which they are incurred.
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AUJLA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
2.Accounting policies (continued)
Tax is recognised in the Statement of comprehensive income, 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 reporting date in the countries where the Company operates and generates income.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
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 the Statement of comprehensive income.
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.
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Cash and cash equivalents
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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.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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.
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AUJLA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
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The average monthly number of employees, including directors, during the period was 2 (2018 - 2).
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Freehold investment property
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The 2019 valuations were made by the director, on an open market value for existing use basis.
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AUJLA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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AUJLA (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2019
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Creditors: Amounts falling due after more than one year
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The bank loans are secured by a legal charge over the investment property in the company and by a fixed charge over the assets belonging to the company, including goodwill.
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The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
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Investment property revaluation reserve
This reserve records non-distributable losses arising on revaluation of investment properties, net of deferred tax.
Profit & loss account
This reserve represents all current and prior period retained profits and loses. A transfer has been made to the investment property revaluation reserve which represents the non-distributable losses arising on investment properties.
During the year a prior year adjustment has been made for £10,000 of dividends not included in last years accounts.
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Related party transactions
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At the balance sheet date the company owed the director £57,326 (2018 as restated - £49,326). This is an interest free loan.
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