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Registered number: 02467614










AQUABOULEVARD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 OCTOBER 2023

 
AQUABOULEVARD LIMITED
REGISTERED NUMBER: 02467614

BALANCE SHEET
AS AT 29 OCTOBER 2023

29 October
30 October
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,699
-

  
17,699
-

Current assets
  

Debtors: amounts falling due within one year
 5 
54,905
211,677

Cash at bank and in hand
  
272
1,451

  
55,177
213,128

Creditors: amounts falling due within one year
 6 
(63,515)
(63,691)

Creditors: amounts falling due after more than one year
 7 
(17,500)
(27,500)

  

Net (liabilities)/assets
  
(8,139)
121,937


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(8,239)
121,837

  
(8,139)
121,937


Page 1

 
AQUABOULEVARD LIMITED
REGISTERED NUMBER: 02467614
    
BALANCE SHEET (CONTINUED)
AS AT 29 OCTOBER 2023

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 period 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 on 25 July 2024.




C J Gosling
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
AQUABOULEVARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

1.


General information

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in Sterling (£). All amounts in the financial statements have been rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

Having reviewed the financial statements and cash flows of the business, the directors have formed a judgement that there is a reasonable expectation that the Company has the necessary profitability, working capital inflow and funding capacity to continue operations for at least 12 months from the date of approval of these financial statements. Therefore, they are prepared on a going concern basis.

 
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

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
AQUABOULEVARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

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.

 
2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%

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.

 
2.10

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.

 
2.11

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.

Page 4

 
AQUABOULEVARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

2.Accounting policies (continued)

 
2.12

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.


3.


Employees




The average monthly number of employees, including directors, during the period was 3 (2022 - 4).


4.


Tangible fixed assets







Long-term leasehold property

£



Cost or valuation


Additions
18,468



At 29 October 2023

18,468



Depreciation


Charge for the period on owned assets
769



At 29 October 2023

769



Net book value



At 29 October 2023
17,699



At 30 October 2022
-

Page 5

 
AQUABOULEVARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

5.


Debtors

29 October
30 October
2023
2022
£
£


Amounts owed by related parties
21,305
176,126

Prepayments and accrued income
33,600
35,551

54,905
211,677



6.


Creditors: Amounts falling due within one year

29 October
30 October
2023
2022
£
£

Bank loan
10,000
10,000

Trade creditors
1,858
3,619

Corporation tax
5,218
3,040

Other taxation and social security
879
872

Other creditors
2,100
3,150

Accruals and deferred income
43,460
43,010

63,515
63,691



7.


Creditors: Amounts falling due after more than one year

29 October
30 October
2023
2022
£
£

Bank loans
17,500
27,500

17,500
27,500


The bank loan is supported by the Bounce Back Loan Scheme (BBLS) recevied in 2020. In relation to the first 12 months from the date on which the loan is drawn the interest rate applicable during the period is, in effect, 0%. After this date, the bank loan incurs interest at 2.5% annually. The loan is repayable in June 2026 with repayments of £833 per month required.

Page 6

 
AQUABOULEVARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

8.


Commitments under operating leases

At 29 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 October
30 October
2023
2022
£
£


Not later than 1 year
219,000
219,000

Later than 1 year and not later than 5 years
876,000
876,000

Later than 5 years
237,250
456,250

1,332,250
1,551,250


9.


Related party transactions

At the year end, the Company was owed £21,306 (2022: £1,126) by St. John Restaurant Company Limited, a company under common control. 
At the year end, the Company was owed £nil (2022: £175,00) by St. John Marylebone Limited, a company under common control. 


10.


Controlling party

The ultimate controlling party is Trevor Gulliver.

Page 7