AIMU Tech Ltd - Accounts

AIMU Tech Ltd - Accounts

AIMU TECH LTD - Company Information

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Registered Number: 09494878
England and Wales

 

 

 

AIMU TECH LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

AIMU Tech Ltd
Contents Page
For the year ended 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of AIMU Tech Ltd for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AIMU Tech Ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of AIMU Tech Ltd, as a body, in accordance with the terms of our engagement letter dated 18 July 2023 Our work has been undertaken solely to prepare for your approval the accounts of AIMU Tech Ltd and state those matters that we have agreed to state to the Board of Directors of AIMU Tech Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AIMU Tech Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that AIMU Tech Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AIMU Tech Ltd. You consider that AIMU Tech Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of AIMU Tech Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023



....................................................
Oasis Accountants Limited
Office Gold, Building 3, Chiswick Park,
566 Chiswick High Road
London
W4 5YA
18 July 2023
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 82,790    73,861 
82,790    73,861 
Current assets      
Debtors: amounts falling due within one year 417    417 
Cash at bank and in hand 22,498    500 
22,915    917 
Creditors: amount falling due within one year (369,153)   (224,881)
Net current liabilities (346,238)   (223,964)
 
Total assets less current liabilities (263,448)   (150,103)
Creditors: amount falling due after more than one year (108,478)   (188,640)
Net liabilities (371,926)   (338,743)
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account (372,026)   (338,843)
Shareholder's funds (371,926)   (338,743)
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 18 July 2023 and were signed on its behalf by:


-------------------------------
MR SHIVENDER DHILLON
Director
2
General Information
AIMU Tech Ltd is a private company, limited by shares, registered in England and Wales, registration number 09494878, registration address 7A, Wolsey Road, Northwood, HA6 2HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government Grants has been received by the company with respect to "Coronavirus Job Retention Scheme".
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:  
Fixtures and Fittings 18 Reducing Balance
Computer Equipment 18 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2022 72,081    11,792    83,873 
Additions 26,405    -    26,405 
Disposals -    -    - 
At 31 March 2023 98,486    11,792    110,278 
Depreciation
At 01 April 2022 5,267    4,745    10,012 
Charge for year 16,173    1,303    17,476 
On disposals -    -    - 
At 31 March 2023 21,440    6,048    27,488 
Net book values
Closing balance as at 31 March 2023 77,046    5,744    82,790 
Opening balance as at 01 April 2022 66,814    7,047    73,861 


4.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2023
£		   2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

5.

Ultimate Control

Mr Shivender Dhillon is a Director and 70% shareholder of the company having significant control in the company.
3