Company registration number 04198807 (England and Wales)
AQUILA FINANCIAL MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
AQUILA FINANCIAL MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AQUILA FINANCIAL MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
31 March 2025
31 May 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,903
6,243
Current assets
Debtors
5
286,833
293,356
Cash at bank and in hand
104,507
203,939
391,340
497,295
Creditors: amounts falling due within one year
6
(96,790)
(233,928)
Net current assets
294,550
263,367
Total assets less current liabilities
300,453
269,610
Provisions for liabilities
(1,476)
(1,561)
Net assets
298,977
268,049
Capital and reserves
Called up share capital
1,000
1,000
Capital redemption reserve
15,501
15,501
Profit and loss reserves
282,476
251,548
Total equity
298,977
268,049

For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Mr A Hemmings
Mr M Simic
Director
Director
Company registration number 04198807 (England and Wales)
AQUILA FINANCIAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Aquila Financial Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

The company has shortened its accounting period to 31 March 2025. These financial statements reflect a 10 month period and therefore the results are not directly comparable to those for the year ended 31 May 2024.

1.3
Turnover

Turnover represents amounts receivable for commission earned in the year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Equity instruments

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

AQUILA FINANCIAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Total
13
14
AQUILA FINANCIAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2024 and 31 March 2025
192,498
Amortisation and impairment
At 1 June 2024 and 31 March 2025
192,498
Carrying amount
At 31 March 2025
-
0
At 31 May 2024
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024
12,277
Additions
2,940
At 31 March 2025
15,217
Depreciation and impairment
At 1 June 2024
6,034
Depreciation charged in the period
3,280
At 31 March 2025
9,314
Carrying amount
At 31 March 2025
5,903
At 31 May 2024
6,243

During the year, the company reviewed the method of depreciation applied to its tangible fixed assets, specifically computer equipment. As a result of this review, the company changed its depreciation method for this asset category from 25% per annum on a reducing balance basis to 33% per annum on a straight-line basis. This change was made to better reflect the pattern in which the economic benefits from these assets are consumed and to align with the depreciation policy adopted by the wider group.

 

The change in depreciation method represents a change in accounting estimate and has been applied prospectively from the beginning of the current financial year. Had the previous method continued to be applied, the depreciation charge for the year would have been £1,611. Under the new method, the depreciation charge is £3,280. The resulting increase of £1,669 has been recognised in the profit and loss account for the year.

AQUILA FINANCIAL MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
97,275
83,219
Amounts owed by group undertakings
155,759
155,759
Other debtors
33,799
54,378
286,833
293,356
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
324
-
0
Taxation and social security
63,033
14,438
Other creditors
33,433
219,490
96,790
233,928
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