ACCOUNTS - Final Accounts

Registered number: 02754884

AQUILA SWITCHGEAR LIMITED

UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

AQUILA SWITCHGEAR LIMITED

REGISTERED NUMBER: 02754884

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Fixed assets
Investments	4		160		160
			160		160
Current assets
Debtors: amounts falling due within one year	5	32,716		35,017
Cash at bank and in hand	6	10,947		17,745
		43,663		52,762
Creditors: amounts falling due within one year	7	(2,880)		(5,550)
Net current assets			40,783		47,212
Total assets less current liabilities			40,943		47,372



Net assets excluding pension asset			40,943		47,372
Net assets			40,943		47,372

Capital and reserves
Called up share capital	100	100
Profit and loss account	40,843	47,272
	40,943	47,372

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AQUILA SWITCHGEAR LIMITED

REGISTERED NUMBER: 02754884

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

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 by:

................................................

D S Clements

Director

Date: 29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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AQUILA SWITCHGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Aquila Switchgear Limited is a private limited company, registered in the United Kingdom, domiciled in England and Wales. The registered office is 3rd Floor, The Coade, 98 Vauxhall Walk, London, SE11 5EL.

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

Interest income

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

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant & machinery	-	25%	straight line
				Computer equipment	-	25%	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.

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AQUILA SWITCHGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

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.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

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AQUILA SWITCHGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 January 2024	10,074
	At 31 December 2024	10,074
	Impairment
	At 1 January 2024	9,914
	At 31 December 2024	9,914
	Net book value
	At 31 December 2024	160
	At 31 December 2023	160

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	30,149	31,984
Other debtors	2,567	3,033
	32,716	35,017

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	10,947	17,745
Less: bank overdrafts	(780)	(3,450)
	10,167	14,295

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AQUILA SWITCHGEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Bank overdrafts	780	3,450
Accruals and deferred income	2,100	2,100
	2,880	5,550

Related party transactions

At the balance sheet date, D S Clements owed the company £2,567 (2023: £2,567), included within other debtors on the balance sheet. There were no advances or repayments made during the year. The loan was made interest free with no fixed date for repayment.
At the year end, the company was owed £30,149 (2023: £31,984) from Future Designs Limited, a company in which D S Clements has a controlling interest.

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