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Company Registration No. 13194322 (England and Wales)
Aqal Enterprise Ltd Unaudited accounts for the year ended 28 February 2023
Aqal Enterprise Ltd Unaudited accounts Contents
Page
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Aqal Enterprise Ltd Company Information for the year ended 28 February 2023
Directors
L Ahmad S Bashir S Nasir S Suraiya
Company Number
13194322 (England and Wales)
Registered Office
256 Farnham Road Slough SL1 4XL England
Accountants
Insight Accountex Ltd 18 Fuller Road Dagenham Essex RM8 2TT
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Aqal Enterprise Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
11,220 
- 
Cash at bank and in hand
5,542 
9,231 
16,762 
9,231 
Creditors: amounts falling due within one year
(28,011)
(13,011)
Net current liabilities
(11,249)
(3,780)
Net liabilities
(11,249)
(3,780)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(11,250)
(3,781)
Shareholders' funds
(11,249)
(3,780)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by
S Bashir Director Company Registration No. 13194322
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Aqal Enterprise Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Aqal Enterprise Ltd is a private company, limited by shares, registered in England and Wales, registration number 13194322. The registered office is 256 Farnham Road, Slough, SL1 4XL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Aqal Enterprise Ltd Notes to the Accounts for the year ended 28 February 2023
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
11,220 
- 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Other creditors
- 
10,500 
Loans from directors
28,011 
2,511 
28,011 
13,011 
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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