Aquilium Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Aquilium Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08140726 . The registered office is Stanhope House, Mark Rake, Bromborough, Wirral, CH62 2DN .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	10% Reducing Balance
Fixtures & Fittings	25% Straight Line
Computer Equipment	33% Straight Line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Aquilium Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments

Financial Instruments

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are classified as basic instruments and are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2.6. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

...CONTINUED

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Aquilium Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Taxation - continued

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

A defined contribution plan is a pension plan under which fixed contributions are paid into a

pension fund and the company has no legal or constructive obligation to pay further

contributions even if the fund does not hold sufficient assets to pay all employees the

benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense

when they are due. If contribution payments exceed the contribution due for service, the

excess is recognised as a prepayment.

2.8. Investments

Investments in equity shares which are publicly traded or where the fair value can be

measured reliably are initially measured at fair value, with changes in fair value recognised

in profit or loss. Investments in equity shares which are not publicly traded and where fair

value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the

effective interest method. Dividends on equity securities are recognised in income when

receivable.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 6 (2024: 3)

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Aquilium Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	-	6,144	26,095	32,239
Additions	78,901	2,658	4,563	86,122
Disposals	-	-	(1,790 )	(1,790 )

As at 31 March 2025	78,901	8,802	28,868	116,571

Depreciation
As at 1 April 2024	-	3,909	23,450	27,359
Provided during the period	7,890	1,849	3,340	13,079
Disposals	-	-	(1,788 )	(1,788 )

As at 31 March 2025	7,890	5,758	25,002	38,650

Net Book Value
As at 31 March 2025	71,011	3,044	3,866	77,921

As at 1 April 2024	-	2,235	2,645	4,880

5. Investments

	Associates
	£
Cost
As at 1 April 2024	100
Disposals	(50 )

As at 31 March 2025	50

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	50

As at 1 April 2024	100

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Aquilium Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,590	23,125
Other debtors	812,920	788,419

	814,510	811,544

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	18,594	-
Trade creditors	12,458	11,637
Bank loans and overdrafts	6,210	6,210
Other creditors	5,902	156,772
Taxation and social security	103,673	45,198

	146,837	219,817

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	53,542	-
Bank loans	23,860	29,244

	77,402	29,244

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	18,594	-
Later than one year and not later than five years	53,542	-

	72,136	-

	72,136	-

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	202	202

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Aquilium Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

11. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Miss Maxine Fennell	-	6,000	-	-	6,000
Mr Antony Fennell	-	234	-	-	234

The above loan is unsecured, interest free and repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		77,921		4,880
Investments	5		50		100

			77,971		4,980
CURRENT ASSETS
Debtors	6	814,510		811,544
Cash at bank and in hand		44,644		17,375

		859,154		828,919
Creditors: Amounts Falling Due Within One Year	7	(146,837 )		(219,817 )

NET CURRENT ASSETS (LIABILITIES)			712,317		609,102

TOTAL ASSETS LESS CURRENT LIABILITIES			790,288		614,082

Creditors: Amounts Falling Due After More Than One Year	8		(77,402 )		(29,244 )

NET ASSETS			712,886		584,838

CAPITAL AND RESERVES
Called up share capital	10		202		202
Profit and Loss Account			712,684		584,636

SHAREHOLDERS' FUNDS			712,886		584,838