Liqural Limited 11988553 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is IT consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 11988553 2023-09-01 2024-08-31 11988553 2024-08-31 11988553 core:CurrentFinancialInstruments 2024-08-31 11988553 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 11988553 core:FurnitureFittingsToolsEquipment 2024-08-31 11988553 bus:SmallEntities 2023-09-01 2024-08-31 11988553 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 11988553 bus:FilletedAccounts 2023-09-01 2024-08-31 11988553 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11988553 bus:RegisteredOffice 2023-09-01 2024-08-31 11988553 bus:Director1 2023-09-01 2024-08-31 11988553 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11988553 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 11988553 core:OfficeEquipment 2023-09-01 2024-08-31 11988553 core:OtherRelatedParties 2023-09-01 2024-08-31 11988553 countries:EnglandWales 2023-09-01 2024-08-31 11988553 core:FurnitureFittingsToolsEquipment 2023-08-31 11988553 2022-09-01 2023-08-31 11988553 2023-08-31 11988553 core:CurrentFinancialInstruments 2023-08-31 11988553 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 11988553 core:FurnitureFittingsToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 11988553

Prepared for the registrar

Liqural Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Liqural Limited

(Registration number: 11988553)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

464

1,084

Current assets

 

Debtors

5

3,668

3,668

Cash at bank and in hand

 

82

-

 

3,750

3,668

Creditors: Amounts falling due within one year

6

(41,553)

(40,639)

Net current liabilities

 

(37,803)

(36,971)

Net liabilities

 

(37,339)

(35,887)

Capital and reserves

 

Called up share capital

13,668

13,668

Retained earnings

(51,007)

(49,555)

Shareholders' deficit

 

(37,339)

(35,887)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 26 May 2025
 


R Hassan
Director

 

Liqural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Flat 118
Commercial Road
London
E14 7LH

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, with the support of the director. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover represents amounts chargeable, in respect of the provision of services to customers.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Tax

The tax expense for the period comprises of current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Liqural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% straight line

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Liqural Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

 

4

Tangible assets

Office equipment
 £

Cost

At 1 September 2023

3,099

At 31 August 2024

3,099

Depreciation

At 1 September 2023

2,015

Charge for the year

620

At 31 August 2024

2,635

Carrying amount

At 31 August 2024

464

At 31 August 2023

1,084

 

5

Debtors

2024
£

2023
£

Other debtors

3,668

3,668

3,668

3,668

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

38,753

37,839

Accruals and deferred income

 

2,800

2,800

 

41,553

40,639

 

7

Related party transactions

Summary of transactions with other related parties

At 31 August 2024, Liqural Limited owed £38,753 (2023: £37,803) to R Hassan in the form of a director's loan account. No interest has been charged on the loan and it is repayable on demand.