Aura-Soma Products Limited Filleted accounts for Companies House (small and micro)
Aura-Soma Products Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
02097549
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FOR THE YEAR ENDED |
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STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
9 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Share premium account |
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Revaluation reserve |
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Capital redemption reserve |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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STATEMENT OF FINANCIAL POSITION (continued) |
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2024
, and are signed on behalf of the board by:
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Chairman |
Company registration number:
02097549
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 MAY 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is South Road, Tetford, Horncastle, Lincs, LN9 6QB.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Consolidation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property |
- |
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Improvements to Leasehold Property |
- |
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Plant & Machinery |
- |
15-25% straight line
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Fixtures & Fittings |
- |
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Motor Vehicles |
- |
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An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is subsequently revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in the subsidiary company is held at cost less accumulated impairment losses.
Stocks
Finance leases and hire purchase contracts
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
39
(2022:
38
).
5.
Tangible assets
Freehold property |
Long leasehold property |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 Jun 2022 |
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Additions |
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Disposals |
(
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– |
– |
(
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(
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(
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At 31 May 2023 |
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Depreciation |
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At 1 Jun 2022 |
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Charge for the year |
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– |
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Disposals |
– |
– |
– |
(
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(
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(
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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Included in Freehold Land and Buildings is land at a value of £3,338,341 (2022 - £2,718,991) which is not depreciated.
Tangible assets held at valuation
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery |
Motor vehicles |
Total |
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£ |
£ |
£ |
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At 31 May 2023 |
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At 31 May 2022 |
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6.
Investments
Shares in group undertakings |
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£ |
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Cost |
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At 1 June 2022 and 31 May 2023 |
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---------- |
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Impairment |
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At 1 June 2022 and 31 May 2023 |
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---------- |
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Carrying amount |
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At 31 May 2023 |
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---------- |
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At 31 May 2022 |
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Subsidiaries, associates and other investments
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Ordinary |
100 |
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Ordinary |
100 |
7.
Debtors
2023 |
2022 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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The debtors above include the following amounts falling due after more than one year:
2023 |
2022 |
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£ |
£ |
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Other debtors |
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Debts without any formal agreement are deemed to be repayable on demand and as a consequence are included within current assets.
8.
Creditors:
amounts falling due within one year
2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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The bank debt is secured by charges over the Freehold Land & Buildings owned by the company. There is also a personal guarantee in place from the Directors.
Other creditors includes hire purchase liabilities of £69,139 (2022 - £56,260) which are secured on the relevant assets.
9.
Creditors:
amounts falling due after more than one year
2023 |
2022 |
|
£ |
£ |
|
Bank loans and overdrafts |
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Other creditors |
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---------- |
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The bank debt is secured by charges over the Freehold Land & Buildings owned by the company. There is also a personal guarantee in place from the Directors.
Other creditors represents hire purchase liabilities which are secured on the relevant assets.
10.
Directors' advances, credits and guarantees
Included within other debtors (see note 8) are loans to the directors as follows: Amounts outstanding
2023 | 2022 | ||
£ | £ | ||
C G F Booth | 232,815 | 292,815 | |
J M Booth | 357,171 | 552,205 | |
---------- | ---------- | ||
Total | 589,986 | 845,020 | |
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2023 | 2022 | ||
£ | £ | ||
C G F Booth | 355,508 | 355,508 | |
J M Booth | 985,503 | 566,449 | |
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Total | 1,341,011 | 921,957 | |
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Included within trade debtors are the following amounts owed by the directors: Amounts outstanding
2023 | 2022 | ||
£ | £ | ||
J M Booth | 879 | 879 | |
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11.
Related party transactions
12.
Ultimate controlling party
The company is considered to be under the control of the Directors J M Booth and C G F Booth.