| Aura Agency Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration receivedxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Equipment |
25% reducing balance basis |
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is only recognised in respect of any material timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. |
|
| 2 |
Employees |
2017 |
|
2016 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Equipment |
| £ |
|
Cost |
|
At 1 April 2016 |
1,421 |
|
Additions |
627 |
|
At 31 March 2017 |
2,048 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2016 |
470 |
|
Charge for the year |
395 |
|
At 31 March 2017 |
865 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
1,183 |
|
At 31 March 2016 |
951 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Accrued income |
8,435 |
|
- |
|
Trade debtors |
- |
|
6,678 |
|
Other debtors |
4,066 |
|
1,540 |
|
|
|
|
|
|
12,501 |
|
8,218 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Corporation tax |
6,191 |
|
6,842 |
|
Other creditors |
7,980 |
|
2,603 |
|
|
|
|
|
|
14,171 |
|
9,445 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Aura Agency Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
68 Ship Street |
|
Brighton |
|
BN1 1AE |
