ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false2022-10-01No description of principal activity65truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11451775 2022-10-01 2023-09-30 11451775 2021-10-01 2022-09-30 11451775 2023-09-30 11451775 2022-09-30 11451775 c:Director2 2022-10-01 2023-09-30 11451775 d:MotorVehicles 2022-10-01 2023-09-30 11451775 d:MotorVehicles 2023-09-30 11451775 d:MotorVehicles 2022-09-30 11451775 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 11451775 d:CurrentFinancialInstruments 2023-09-30 11451775 d:CurrentFinancialInstruments 2022-09-30 11451775 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11451775 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 11451775 d:ShareCapital 2023-09-30 11451775 d:ShareCapital 2022-09-30 11451775 d:RetainedEarningsAccumulatedLosses 2023-09-30 11451775 d:RetainedEarningsAccumulatedLosses 2022-09-30 11451775 c:OrdinaryShareClass1 2022-10-01 2023-09-30 11451775 c:OrdinaryShareClass1 2023-09-30 11451775 c:OrdinaryShareClass1 2022-09-30 11451775 c:FRS102 2022-10-01 2023-09-30 11451775 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 11451775 c:FullAccounts 2022-10-01 2023-09-30 11451775 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 11451775 2 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11451775

AQUILA PM LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

AQUILA PM LIMITED

REGISTERED NUMBER: 11451775

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

		2023		2022
Note		£		£

Fixed assets
Tangible assets	4		1,830		2,288
Current assets
Debtors		41,343		19,392
Cash at bank and in hand	5	263,217		566,993
		304,560		586,385
Creditors: amounts falling due within one year	6	(130,021)		(425,466)
Net current assets			174,539		160,919
Net assets			176,369		163,207

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		176,269	163,107
Total equity		176,369	163,207

The directors consider 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 directors acknowledge their 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:

D Chambers

Director

Date: 17 June 2024

The notes on pages 2 to 6 form part of these financial statements.

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AQUILA PM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.	General information

Aquila PM Limited is a private company limited by shares and registered in England and Wales. Its registered office address is 6a High Street, Chelmsford, CM1 1BE.
The financial statements are presented in Sterling (£), rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

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.

The following principal accounting policies have been applied:

2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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AQUILA PM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.7

Tangible fixed assets

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles

20%

Reducing 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.

2.8

Debtors

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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AQUILA PM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

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.

2.11

Financial instruments

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

2.12

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 5).

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AQUILA PM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.	Tangible fixed assets

		Motor vehicles
		£
	Cost or valuation
	At 1 October 2022	4,995
	At 30 September 2023	4,995
	Depreciation
	At 1 October 2022	2,707
	Charge for the year on owned assets	458
	At 30 September 2023	3,165
	Net book value
	At 30 September 2023	1,830
	At 30 September 2022	2,288

5.	Cash and cash equivalents
		2023	2022
		£	£

	Cash at bank and in hand	263,217	566,993

Included in cash at bank is £113,541 (2022 - £394,677) held in client accounts on trust for tenants.

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AQUILA PM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	768	1,212
Corporation tax	15,348	25,731
Other taxation and social security	12,776	10,258
Other creditors	98,379	385,515
Accruals and deferred income	2,750	2,750
	130,021	425,466

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

100 (2022 - 100) Ordinary shares of £1.00 each	100	100

8.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,423 (2022 - £1,141). All contributions payable had been made as at the balance sheet date.

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