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Registered number: 11685189










AQUARIUS REAL ESTATE MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
REGISTERED NUMBER: 11685189

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
140,998
8,644

Current assets
  

Debtors
 5 
1,253,338
927,276

Cash at bank and in hand
  
3,745
4,497

  
1,257,083
931,773

Creditors: amounts falling due within one year
 6 
(469,272)
(344,565)

Net current assets
  
 
 
787,811
 
 
587,208

Creditors: amounts falling due after more than one year
 7 
(116,104)
(26,667)

Provisions for liabilities
  

Deferred tax
 9 
(2,356)
(2,162)

  
 
 
(2,356)
 
 
(2,162)

Net assets
  
810,349
567,023


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
810,348
567,022

  
810,349
567,023


Page 1

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
REGISTERED NUMBER: 11685189
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers 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 year in question 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 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 income and retained earnings 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 27 November 2024.




Samuel Clark
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Aquarius Real Estate Management Limited (the company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is Maddox House, 117 Edmund Street, Birmingham, West Midlands, B3 2HJ, which is also the address of its principal place of business.

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 following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

Page 3

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

Page 4

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
12%
straight line
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
33%
straight line

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.

 
2.8

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.

 
2.9

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.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 5

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 7).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
-
6,744
18,235
24,979


Additions
139,975
467
12,055
152,497



At 30 November 2023

139,975
7,211
30,290
177,476



Depreciation


At 1 December 2022
-
4,193
12,141
16,334


Charge for the year on owned assets
-
725
7,819
8,544


Charge for the year on financed assets
11,600
-
-
11,600



At 30 November 2023

11,600
4,918
19,960
36,478



Net book value



At 30 November 2023
128,375
2,293
10,330
140,998



At 30 November 2022
-
2,550
6,094
8,644

Page 6

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
128,375
-


5.


Debtors

2023
2022
£
£


Trade debtors
52,656
215,576

Amounts owed by group undertakings
1,108,826
530,419

Other debtors
1,276
5,059

Prepayments and accrued income
90,580
176,222

1,253,338
927,276


Page 7

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
10,000
10,000

Trade creditors
159,985
18,814

Amounts owed to group undertakings
150,039
72,618

Corporation tax
12,367
116,377

Other taxation and social security
82,897
45,921

Obligations under finance lease and hire purchase contracts
12,972
-

Other creditors
7,012
3,041

Accruals and deferred income
34,000
77,794

469,272
344,565


The following liabilities were secured:

2023
2022
£
£


Bank loan
10,000
10,000

Details of security provided:

The bank loan is secured by government guarantee.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,667
26,667

Net obligations under finance leases and hire purchase contracts
99,437
-

116,104
26,667


The following liabilities were secured:

2023
2022
£
£



Bank loan
16,667
26,667

Details of security provided:

The bank loan is secured by government guarantee.

Page 8

 
AQUARIUS REAL ESTATE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
12,972
-

Between 1-5 years
99,437
-

112,409
-


9.


Deferred taxation




2023


£






At beginning of year
(2,162)


Charged to profit or loss
(194)



At end of year
(2,356)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,356)
(2,162)


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £7,330 (2022: £3,880). Contributions totalling £1,613 (2022: £529) were payable to the fund at the balance sheet date and are included in creditors.


11.


Immediate and ultimate parent undertaking

The company's ultimate parent undertaking is Mercia Real Estate Ltd. The registered address and principal place of business for both companies is Maddox House, 117 Edmund Street, Birmingham, West Midlands, England, B3 2HJ.

 
Page 9