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REGISTERED NUMBER: 05862362 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AQUESTA LIMITED

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


AQUESTA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: H S Atkar





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 05862362 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AQUESTA LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aquesta Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Aquesta Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aquesta Limited and state those matters that we have agreed to state to the director of Aquesta Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aquesta Limited and its director for our work or for this report.

It is your duty to ensure that Aquesta Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aquesta Limited. You consider that Aquesta Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aquesta Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


26 September 2024

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31/12/23 31/12/22
Notes £ £ £ £
FIXED ASSETS
Property, plant and equipment 4 8,055,989 8,122,874

CURRENT ASSETS
Debtors 5 2,255,493 2,009,259
Cash at bank and in hand 37,599 32,359
2,293,092 2,041,618
CREDITORS
Amounts falling due within one year 6 290,506 388,050
NET CURRENT ASSETS 2,002,586 1,653,568
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,058,575

9,776,442

CREDITORS
Amounts falling due after more than one year 7 (7,697,993 ) (7,708,705 )

PROVISIONS FOR LIABILITIES 9 (162,628 ) (380,818 )
NET ASSETS 2,197,954 1,686,919

CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 3,582,697 3,582,697
Retained earnings 11 (1,385,043 ) (1,896,078 )
SHAREHOLDERS' FUNDS 2,197,954 1,686,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





H S Atkar - Director


AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Aquesta Limited 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 the provision os Section 1A" Small Entities"of Financial Reporting Standard 102" The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006, The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents fees receivable from hire of banqueting centre and conference hall,excluding value added tax. Revenue from the services is recognised at the time of service is rendered.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Tangible fixed assets
Property,plant and equipment are stated at fair value which is cost or revaluation amount less accumulated depreciation and impairment losses

Freehold property includes land and building which are carried at their revalued amounts, being fair value at the date of valuation less subsequent depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity. Revaluation reserve is disclosed net of deferred tax.

Depreciation is provided an all property,plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each assets on a systematic basis over its expected useful life as follows:

Freehold building - 2% on the cost
Plant and Machinery - 25% on reducing balance
Computer Equipment - 33.33% on reducing balance

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Computer
property machinery equipment Totals
£ £ £ £
COST OR VALUATION
At 1 January 2023 8,569,650 524,468 16,219 9,110,337
Additions - 19,682 - 19,682
At 31 December 2023 8,569,650 544,150 16,219 9,130,019
DEPRECIATION
At 1 January 2023 512,065 461,148 14,250 987,463
Charge for year 65,166 20,751 650 86,567
At 31 December 2023 577,231 481,899 14,900 1,074,030
NET BOOK VALUE
At 31 December 2023 7,992,419 62,251 1,319 8,055,989
At 31 December 2022 8,057,585 63,320 1,969 8,122,874

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and Computer
property machinery equipment Totals
£ £ £ £
Valuation in 2014 1,230,000 13,300 - 1,243,300
Valuation in 2016 993,256 - - 993,256
Valuation in 2017 1,500,000 - - 1,500,000
Valuation in 2017 500,000 - - 500,000
Cost 4,346,394 530,850 16,219 4,893,463
8,569,650 544,150 16,219 9,130,019

Freehold Property was valued on an open market basis by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£ £
Amounts owed by connected companies 2,249,064 1,998,007
Prepayments 6,429 11,252
2,255,493 2,009,259

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£ £
Trade creditors 22,891 41,539
Social security and other taxes 5,069 3,997
VAT 35,694 29,025
Other creditors 158,254 186,990
Accrued expenses 68,598 126,499
290,506 388,050

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£ £
Bank loans 4,850,000 4,850,000
Other loans - 2-5 years 300,000 300,000
Directors' loan accounts 2,547,993 2,558,705
7,697,993 7,708,705

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 4,850,000 4,850,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£ £
Bank loans 4,850,000 4,850,000
Other Loans 2-5 years 300,000 300,000
5,150,000 5,150,000

The loan is secured by way of a debenture over the assets of Aquesta Limited, together with a personal guarantee from the director. The loan is fully repayable within 6 years from the first drawdown with interest charged at 3.71% above the Bank of England base rate.

Other Loans 2-5 year is loan made by Mr Kulwant Gill to Aquesta Limited. The loan is repayable when demanded by the lender. Interest charged on the loan is 10% per annum payable when loan is repaid.

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£ £
Deferred tax 162,628 380,818

Deferred tax
£
Balance at 1 January 2023 380,818
Utilised during year (218,190 )
Balance at 31 December 2023 162,628

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £ £
300 Ordinary 1 300 300

11. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 January 2023 (1,896,078 ) 3,582,697 1,686,619
Profit for the year 511,035 511,035
At 31 December 2023 (1,385,043 ) 3,582,697 2,197,654

AQUESTA LIMITED (REGISTERED NUMBER: 05862362)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. RELATED PARTY DISCLOSURES

At the Balance Sheet date, the following balances were outstanding in respect of companies where the directors have beneficial interest :-

December 2023 December 2022
£ £
Debtors:
Newbury Park Hotels 1,141,529 1,141,529
Longprime Limited 467,709 447,778
A-Z Services Limited 363,700 408,700
Silantro Limited 276,125

2,249,063 1,998,007






As at period ended 31 December 2023, £2,249,063 (December 2022 : £1,998,007) was owed to H S Atkar, a controlling director of the company.

13. ULTIMATE CONTROLLING PARTY

The director, H S Atkar, is the ultimate controller of the company as he holds all of the issued share capital of the company.