Company Registration No. 08614368 (England and Wales)
AQL (Financial) Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
AQL (Financial) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
AQL (Financial) Limited
Statement of financial position
As at 31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
21,499
21,499
Current assets
Debtors
5
3,363
1
Cash at bank and in hand
24,966
19,962
28,329
19,963
Creditors: amounts falling due within one year
6
(462,197)
(289,910)
Net current liabilities
(433,868)
(269,947)
Total assets less current liabilities
(412,369)
(248,448)
Creditors: amounts falling due after more than one year
7
(300,000)
(300,000)
Net liabilities
(712,369)
(548,448)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(712,370)
(548,449)
Total equity
(712,369)
(548,448)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

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.

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

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

AQL (Financial) Limited
Statement of financial position (continued)
As at 31 December 2024
2
The financial statements were approved and signed by the director and authorised for issue on 31 October 2025.
Professor Adam Beaumont
Director
Company Registration No. 08614368
AQL (Financial) Limited
Notes to the financial statements
For the year ended 31 December 2024
3
1
Accounting policies
Company information

AQL (Financial) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13-15 Hunslet Road, Leeds, West Yorkshire, LS10 1JQ.

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 a mounts 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
Going concern

A true t the time of approving the financial statements, t he director has has given consideration to the net liability position of the company and has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

Freehold land and buildings
Not depreciated

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

AQL (Financial) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
4
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

AQL (Financial) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
5
2
Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
21,499
Depreciation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
21,499
At 31 December 2023
21,499
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,363
1
AQL (Financial) Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
6
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,747
228,079
Other creditors
441,450
61,831
462,197
289,910
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
300,000
300,000
8
Related party disclosures

At 31 December 2024 the company owed £432,810 (2023: £61,830) and £300,000 (2023: £300,000) to (AQ) Limited and (AQ) Networks Limited respectively.

Professor Adam Beaumont is a Director and shareholder in the above companies.

2024-12-31 2024-01-01 false false false CCH Software CCH Accounts Production 2024.301 No description of principal activity Professor Adam Beaumont Mr Stephen Neale 08614368 2024-01-01 2024-12-31 08614368 2024-12-31 08614368 2023-12-31 08614368 core:LandBuildings 2024-12-31 08614368 core:LandBuildings 2023-12-31 08614368 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 08614368 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08614368 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 08614368 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 08614368 core:CurrentFinancialInstruments 2024-12-31 08614368 core:CurrentFinancialInstruments 2023-12-31 08614368 core:ShareCapital 2024-12-31 08614368 core:ShareCapital 2023-12-31 08614368 core:RetainedEarningsAccumulatedLosses 2024-12-31 08614368 core:RetainedEarningsAccumulatedLosses 2023-12-31 08614368 bus:Director1 2024-01-01 2024-12-31 08614368 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08614368 2023-01-01 2023-12-31 08614368 core:LandBuildings 2023-12-31 08614368 core:WithinOneYear 2024-12-31 08614368 core:WithinOneYear 2023-12-31 08614368 core:Non-currentFinancialInstruments 2024-12-31 08614368 core:Non-currentFinancialInstruments 2023-12-31 08614368 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08614368 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 08614368 bus:FRS102 2024-01-01 2024-12-31 08614368 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08614368 bus:CompanySecretary1 2024-01-01 2024-12-31 08614368 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP