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REGISTERED NUMBER: 07408138 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021

FOR

AQUMEN BUSINESS SOLUTIONS LTD

AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AQUMEN BUSINESS SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2021







DIRECTOR: Andrew Murray Taylor





REGISTERED OFFICE: 7 Wellington Road East
Dewsbury
West Yorkshire
WF13 1HF





REGISTERED NUMBER: 07408138 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
7 Wellington Road East
Dewsbury
West Yorkshire
WF13 1HF

AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

BALANCE SHEET
31 OCTOBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,471 3,888
Tangible assets 5 52,343 8,849
55,814 12,737

CURRENT ASSETS
Debtors 6 916,822 1,196,213
Cash at bank 13,449 13,798
930,271 1,210,011
CREDITORS
Amounts falling due within one year 7 750,352 1,037,190
NET CURRENT ASSETS 179,919 172,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,733

185,558

CREDITORS
Amounts falling due after more than
one year

8

(36,667

)

-

PROVISIONS FOR LIABILITIES (9,048 ) (672 )
NET ASSETS 190,018 184,886

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 99,970 99,970
Profit and loss account 89,948 84,816
190,018 184,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

BALANCE SHEET - continued
31 OCTOBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 July 2022 and were signed by:





Andrew Murray Taylor - Director


AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2021

1. STATUTORY INFORMATION

Aqumen Business Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill has been capitalised and is amortised on a straight line basis over the estimated useful economic life of ten years, which was chosen because the directors are of the opinion that this is the period over which the company will receive economic benefits from these assets.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are included in the accounts at cost less depreciation.

GOVERNMENT GRANTS
Grants receivable in relation to profit and loss expenditure are credited to the profit and loss in the year for which they relate.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

FINANCE COSTS OF DEBT
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 106 (2020 - 221 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2020
and 31 October 2021 8,333
AMORTISATION
At 1 November 2020 4,445
Amortisation for year 417
At 31 October 2021 4,862
NET BOOK VALUE
At 31 October 2021 3,471
At 31 October 2020 3,888

AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Office and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2020 5,900 12,012 4,179 1,700 23,791
Additions - 41,200 - 18,000 59,200
At 31 October 2021 5,900 53,212 4,179 19,700 82,991
DEPRECIATION
At 1 November 2020 590 8,752 3,900 1,700 14,942
Charge for year 590 10,523 93 4,500 15,706
At 31 October 2021 1,180 19,275 3,993 6,200 30,648
NET BOOK VALUE
At 31 October 2021 4,720 33,937 186 13,500 52,343
At 31 October 2020 5,310 3,260 279 - 8,849

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 704,557 962,143
Other debtors 212,265 234,070
916,822 1,196,213

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 50,000
Debt factoring advances 472,156 564,055
Trade creditors 50,965 21,885
Taxation and social security 210,518 393,342
Other creditors 6,713 7,908
750,352 1,037,190

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 36,667 -

AQUMEN BUSINESS SOLUTIONS LTD (REGISTERED NUMBER: 07408138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Debt factoring advances 472,156 564,055

The bank overdraft is secured on the assets of the company. The debt factoring advances are secured on the trade book debts of the company.

The bank loan is unsecured as this is backed by a government guarantee.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2021 and 31 October 2020:

2021 2020
£    £   
Andrew Murray Taylor
Balance outstanding at start of year 106,002 131,439
Amounts advanced 121,651 51,563
Amounts repaid (121,775 ) (77,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,878 106,002

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £34,223 (2020 - £26,531 ). Contributions totalling £1,667 (2020 - £3,817) were payable to the fund at the year end and are included in creditors.