Registered number:
06580691
AUGUR INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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AUGUR INVESTMENTS LIMITED
REGISTERED NUMBER:
06580691
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2022
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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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AUGUR INVESTMENTS LIMITED
REGISTERED NUMBER:
06580691
STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
31 MARCH 2022
The director considers 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 director acknowledges his 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
:
The notes on pages 4 to 9 form part of these financial statements.
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AUGUR INVESTMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 MARCH 2022
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Comprehensive income for the year
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Comprehensive income for the year
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Augur Investments Limited is a private company limited by shares incorporated in England and Wales. Its registered office and principal place of business is Unit 13, Breasy Place, Burroughs Gardens, Hendon, London, NW4 4AT.
The financial statements are presented in Sterling (£).
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
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The following principal accounting policies have been applied:
The Company is looking to dispose of its remaining property investments in an orderly manner. To date the Company has received the continuing support of its lenders to assist it to achieve this and the directors anticipate that this support will continue until the assets are sold. On the assumption that this support continues, the accounts have been prepared on a going concern basis.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
Interest income is recognised in profit or loss using the effective interest method.
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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.
Accounting policies (continued)
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:
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.
Investments in subsidiaries are measured at cost less accumulated impairment
Income arising from the Company's interest in its subsidiary and associated undertakings is recognised when the Company becomes unconditionally entitled to the income.
The Company recognises its share of profit arising from its interests in Limited Liability Partnerships (LLPs) as and when the LLPs declare distributions. The LLPs are tax transparent vehicles and the Company accounts for its tax liability in respect of its interests in LLPs on the basis of liabilities arising at the balance sheet date. Deferred tax is recognised on tax liabilities arising on profits that have not been distributed by the LLPs except where the Company does not believe it is likely that such profits will be distributed in the foreseeable future.
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Associates and joint ventures
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Associates and Joint Ventures are held at cost less impairment.
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.
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.
Accounting policies (continued)
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 ordinary shares.
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The average monthly number of employees, including directors, during the year was 1
(2021 -
1
)
.
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Charge for the year on owned assets
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Investments in subsidiary companies
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Investments in associates
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Amounts owed by group undertakings
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Amounts owed by joint ventures and associated undertakings
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Cash and cash equivalents
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Creditors: Amounts falling due within one year
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Amounts owed to associates
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Creditors: Amounts falling due after more than one year
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AUGUR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Other loans relates to a loan which is secured by a fixed and floating charge over the assets of the Company and interest is charged based on the three month London Inter Bank Offer Rate, plus a margin of 4.5%. The loan principal and accumulated interest falls due for repayment on 31 October 2021. On 8 June 2021, the loan was extended to 30 April 2022.
The bank loan, received on 9 June 2020, relates to the Bounce Back Loan Scheme. The loan term is 6 years with no interest to payable for the first 12 months and thereafter the interest rate is fixed at 2.5%. The government pays the first 12 months interest direct to the bank and therefore £211 has been recognised as a government grant based on 3 months' interest.
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The Company is a wholly owned subsidiary of Augur Group Limited, a company incorporated in England and Wales, the registered office of which is Unit 13, Breasy Place, Burroughs Gardens, Hendon, London, England, NW4 4AT.
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