Company Registration No. 04250076 (England and Wales)
(AQ) Networks Limited
Unaudited financial statements
for the year ended 31 December 2024
Pages for filing with the registrar
(AQ) Networks Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
(AQ) Networks Limited
Statement of financial position
As at 31 December 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
855,882
995,241
Investments
5
43,055
43,055
898,937
1,038,296
Current assets
Debtors
6
8,556,208
9,536,454
Cash at bank and in hand
1,599,176
510,758
10,155,384
10,047,212
Creditors: amounts falling due within one year
7
(812,449)
(1,235,918)
Net current assets
9,342,935
8,811,294
Total assets less current liabilities
10,241,872
9,849,590
Provisions for liabilities
(23,235)
(15,135)
Net assets
10,218,637
9,834,455
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
10,218,537
9,834,355
Total equity
10,218,637
9,834,455

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.

(AQ) Networks 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 30 October 2025.
Professor Adam Beaumont
Director
Company Registration No. 04250076
(AQ) Networks Limited
Notes to the financial statements
For the year ended 31 December 2024
3
1
Accounting policies
Company information

(AQ) Networks 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 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 on the following bases:

Freehold land and buildings
25 years straight line
Plant and equipment
3 years straight line
Fixtures and fittings
10 years straight line
Motor vehicles
5 years straight line

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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

(AQ) Networks Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies (continued)
4

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

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
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 income statement 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.

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. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. 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.

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.

(AQ) Networks Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
5
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
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1,610,659
1,800,018
3,410,677
Additions
13,374
23,945
37,319
Disposals
(99,283)
-
0
(99,283)
At 31 December 2024
1,524,750
1,823,963
3,348,713
Depreciation and impairment
At 1 January 2024
690,671
1,724,765
2,415,436
Depreciation charged in the year
58,703
31,270
89,973
Eliminated in respect of disposals
(12,578)
-
0
(12,578)
At 31 December 2024
736,796
1,756,035
2,492,831
Carrying amount
At 31 December 2024
787,954
67,928
855,882
At 31 December 2023
919,988
75,253
995,241
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
43,055
43,055
(AQ) Networks Limited
Notes to the financial statements (continued)
For the year ended 31 December 2024
6
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
36,000
258,000
Other debtors
8,520,208
9,278,454
8,556,208
9,536,454
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
213,154
191,740
Corporation tax
484,863
737,675
Other taxation and social security
61,282
167,103
Other creditors
53,150
139,400
812,449
1,235,918
8
Related party transactions

At 31 December 2024 the company was owed £4,915,333 (2023: £5,648,967), £300,000 (2023: £300,000), £148,295 (2023: £108,000), £503,275 (2023: £647,802), £894,877 (2023: £894,877), £47,722 (2023: £27,568), £205,117 (2023: £110,000) and £Nil (2023: £9,772) from (aq) Limited, AQL (Financial) Limited, AQL (Leeds) Limited, LS7 Limited, Bluewave Communications Limited, AQL AS, Magic Space Dust Ltd and Porkuni Mois respectively.

During the year, (AQ) Networks Limited received £1,08 0,000 (2023: £1,080,000) in management charges from (aq) Limited and paid cost recharges of £509,645 to (aq) Limited (2023: £nil).

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

9
Directors' transactions

Dividends totalling £0 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Closing balance
£
£
Professor Adam Beaumont
-
1,157,108
1,157,108
1,157,108
1,157,108
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