AQUILEX LIMITED Registered Number
07915775
BALANCE SHEET
AS AT 31 DECEMBER 2022
Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 3 3,375 2,357
CURRENT ASSETS
Debtors 4 72,742 48,678
Cash at bank and in hand 28,012 57,697
100,754 106,375
CREDITORS: amounts falling due within one year 5 (51,868) (48,368)
NET CURRENT ASSETS 48,886 58,007
NET ASSETS 52,261 60,364
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 52,161 60,264
SHAREHOLDERS' FUNDS 52,261 60,364
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit 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 accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Warren Baker
Director
Approved by the board and authorised for issue on 30 September 2023
AQUILEX LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the transaction. The stage of completion of a transaction is measured either by comparing the costs incurred for work performed to date to the estimated total costs or on a straight-line basis over the relevant period unless there is evidence that some other method better represents the stage of completion.

Deferred and accrued income thus arising are included in creditors and debtors respectively and released to the profit and loss account in accordance with the revenue recognition policy stated above.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33.33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 EMPLOYEES 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 TANGIBLE FIXED ASSETS
Plant and machinery etc
£
COST:
At 1 January 2022 5,382
Additions 2,194
At 31 December 2022 7,576
DEPRECIATION:
At 1 January 2022 3,025
Charge for the year 1,176
At 31 December 2022 4,201
NET BOOK VALUE:
At 31 December 2022 3,375
At 31 December 2021 2,357
4 DEBTORS 2022 2021
£ £
Trade debtors 70,879 47,625
Other debtors 1,863 1,053
72,742 48,678
5 CREDITORS: amounts falling due within one year 2022 2021
£ £
Trade creditors 487 558
Taxation and social security 24,301 27,786
Other creditors 27,080 20,024
51,868 48,368
6 RELATED PARTY TRANSACTIONS
During the year ended 31 December 2022, the director received dividends of £44,217 (2021: £40,800).
7 OTHER INFORMATION
Aquilex Limited is a private company limited by shares and incorporated in England. Its registered office is at 3 Arundel Court, Raymond Road, London, SW19 4AF.
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