2022-12-012023-11-302023-11-30false09858924AAIQ ASSOCIATES 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AAIQ ASSOCIATES LTD

Registered Number
09858924
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

AAIQ ASSOCIATES LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

MORGAN-EVANS, Edward Grainger

Registered Address

13 George Edwards Road
Fakenham
NR21 8NL

Registered Number

09858924 (England and Wales)
AAIQ ASSOCIATES LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3730,861731,941
730,861731,941
Current assets
Debtors65,80155,276
Cash at bank and on hand1,6921,768
67,49357,044
Creditors amounts falling due within one year4(45,914)(44,330)
Net current assets (liabilities)21,57912,714
Total assets less current liabilities752,440744,655
Creditors amounts falling due after one year5(876,625)(880,536)
Net assets(124,185)(135,881)
Capital and reserves
Called up share capital22
Profit and loss account(124,187)(135,883)
Shareholders' funds(124,185)(135,881)
The financial statements were approved and authorised for issue by the Director on 19 August 2024, and are signed on its behalf by:
MORGAN-EVANS, Edward Grainger
Director
Registered Company No. 09858924
AAIQ ASSOCIATES LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 December 22793,1747,677800,851
Additions-18,40118,401
At 30 November 23793,17426,078819,252
Depreciation and impairment
At 01 December 2264,5724,33868,910
Charge for year13,2126,26919,481
At 30 November 2377,78410,60788,391
Net book value
At 30 November 23715,39015,471730,861
At 30 November 22728,6023,339731,941
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,8751,896
Bank borrowings and overdrafts33,27429,996
Taxation and social security8,11310,260
Accrued liabilities and deferred income2,6522,178
Total45,91444,330
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts876,625880,536
Total876,625880,536
Included within creditors are amounts falling due after more than one year is an amount of £825,230 (2022:£825,517) in respect of liabilities payable which fall due for payment after more than five years. The bank loan is secured against the property owned by the company.
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
MORGAN-EVANS, Edward Grainger29,87801,93927,939
29,87801,93927,939
At the Balance Sheet date the Director Edward Morgan-Evans owed the company £27,939 (2022:£29,878). A market rate of interest has been applied to the loan balance and the Director has repaid £1,939 during the financial year.
7.Related party transactions
Included in Other Debtors are monies owed by Saracens Sales Ltd £12,800 (2022:£12,800) and Saracens Automotive Ltd £15,938 (2022:£1,322). These are interest free loans to those companies in which Edward Morgan-Evans is a Director.