Azura Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03227144 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

AZURA LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R J White

REGISTERED OFFICE:

TBAC Business Centre

Avenue 4

Station Lane

Witney

Oxfordshire

OX28 4BN

REGISTERED NUMBER:

03227144 (England and Wales)

ACCOUNTANTS:

Haines Watts Cirencester Limited

Old Station House

Station Approach

Newport Street

Swindon

Wiltshire

SN1 3DU

FIXED ASSETS

Tangible assets

4

38,385

19,451

CURRENT ASSETS

Stocks

5,000

5,000

Debtors

397,191

478,820

Cash at bank and in hand

166,511

13,896

568,702

497,716

CREDITORS

Amounts falling due within one year

521,741

447,476

NET CURRENT ASSETS

46,961

50,240

TOTAL ASSETS LESS CURRENT LIABILITIES

85,346

69,691

CREDITORS

Amounts falling due after more than one year

(60,347

)

(53,140

)

PROVISIONS FOR LIABILITIES

(7,293

)

(3,696

)

NET ASSETS

17,706

12,855

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

17,696

12,845

17,706

12,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 30 November 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2022 and were signed by:

Mr R J White - Director

1.	STATUTORY INFORMATION

Azura Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks & work in progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs include all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2020

126,581

Additions

29,292

At 30 November 2021

155,873

DEPRECIATION

At 1 December 2020

107,130

Charge for year

10,358

At 30 November 2021

117,488

NET BOOK VALUE

At 30 November 2021

38,385

At 30 November 2020

19,451

5.	SECURED DEBTS

The following secured debts are included within creditors:

30/11/21

30/11/20

£

£

HSBC Invoice Finance

80,286

165,986

Hire Purchase Contracts

25,574

8,828

105,860

174,814

The HSBC invoice finance agreement is secured by a fixed charge over debtors and a floating charge over all assets.

Hire purchase contracts are secured against the assets to which it relates.