Aqua Financial Solutions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04239921

Aqua Financial Solutions Limited

Abbreviated Unaudited Accounts for the Year Ended 30th June 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

F Meachem

SECRETARY:

B C Soulby

REGISTERED OFFICE:

4 High Street

Alton

Hampshire

GU34 1BU

REGISTERED NUMBER:

04239921

ACCOUNTANTS:

Sheen Stickland LLP

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

FIXED ASSETS

Tangible assets

2

-

5,496

CURRENT ASSETS

Debtors

-

63,749

Cash at bank

-

30,523

-

94,272

CREDITORS

Amounts falling due within one year

3

-

56,572

NET CURRENT ASSETS

-

37,700

TOTAL ASSETS LESS CURRENT LIABILITIES

-

43,196

CREDITORS

Amounts falling due after more than one year

1,165,620

1,478,077

NET LIABILITIES

(1,165,620

)

(1,434,881

)

CAPITAL AND RESERVES

Called up share capital

4

61,001

61,001

Share premium

200

200

Profit and loss account

(1,226,821

)

(1,496,082

)

SHAREHOLDERS' FUNDS

(1,165,620

)

(1,434,881

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25th March 2015 and were signed by:

F Meachem - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents commission and fees invoiced, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st July 2013

71,698

Additions

1,032

Disposals

(72,730

)

At 30th June 2014

-

DEPRECIATION

At 1st July 2013

66,202

Charge for year

1,885

Eliminated on disposal

(68,087

)

At 30th June 2014

-

NET BOOK VALUE

At 30th June 2014

-

At 30th June 2013

5,496

3.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 859 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

61,001

Ordinary

£1

61,001

61,001

5.	ULTIMATE PARENT COMPANY

Aqua Financial Limited is regarded by the director as being the company's ultimate parent company.

6.	RELATED PARTY DISCLOSURES

C J Bennett

The ultimate controlling party.

Included in creditors falling due after more than one year are subordinated loans from C J Bennett, a

former director of the company and the ultimate controlling party. These loans are interest free and

at the balance sheet date £1,165,620 (2013: £1,334,077) was owed to C J Bennett in respect of

these loans.

At the previous year end, the company owed £4,184 to C J Bennett in respect of shareholder loans

made to the company. The balance on this loan, which was interest free and not subordinated, was

hived up to Aqua Financial Limited.

Aqua Financial Limited

The ultimate parent company

Included in creditors falling due within one year is an amount of £nil (2013: £27,036) being a loan

from Aqua Financial Limited.

During the year purchases were made on behalf of Aqua Financial Limited totalling £19,954 and

repayments were made by Aqua Financial Limited totalling £12,667.

The remainder of the non subordinated loan, totalling £34,323, was transfered to Aqua Financial

Limited during the hive up.

Included in creditors falling due after more than one year are subordinated loans from Aqua

Financial Limited. These loans are interest free and at the balance sheet date no liability (2013:

£144,000) was owed to Aqua Financial Limited in respect of these loans.

During the year under review, subordinated loan due after more than one year and totalling

£144,000 were hived up into Aqua Financial Limited.

Silva Financial Limited

C J Bennett is the ultimate controlling party.

During the year commission of £nil (2013: £5,400) was paid or became payable by Silva Financial

Limited.

Included in debtors falling due within one year is an amount of £nil (2013: £3,831).

Kerridge Insurance Services Limited

C J Bennett is the ultimate controlling party.

During the year commission of £nil (2013: £12,000) became payable by Kerridge Insurance Services

Limited.

Included in debtors falling due within one year is an amount of £nil (2013: £12,000).

Orchard Property Investments Limited

A Company under common control

2014

2013

£

£

Amount due from related party at the balance sheet date

-

4,491