General Information
AIMAITES LTD is a private company, limited by shares, registered in England and Wales, registration number 14996748, registration address SPRINGBOARD BUSINESS INNOVATION CENTRE WALES, LLANTARNAM PARK , CWMBRAN, NP44 3AW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The company has a negative balance sheet. However, they have a reasonable expectation that the company has adequate resources with the support of the director to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Straight Line
|
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2024 : 2).
|
| 3. |
Intangible fixed assets
| Cost |
Patents |
|
Total |
| |
£ |
|
£ |
| At 01 August 2024 |
640 |
|
640 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 July 2025 |
640 |
|
640 |
| Amortisation |
| At 01 August 2024 |
64 |
|
64 |
| Charge for year |
64 |
|
64 |
| On disposals |
- |
|
- |
| At 31 July 2025 |
128 |
|
128 |
| Net book values |
| At 31 July 2025 |
512 |
|
512 |
| At 31 July 2024 |
576 |
|
576 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Computer Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 August 2024 |
10,884 |
|
10,884 |
| Additions |
3,761 |
|
3,761 |
| Disposals |
(6,548) |
|
(6,548) |
| At 31 July 2025 |
8,097 |
|
8,097 |
| Depreciation |
| At 01 August 2024 |
1,384 |
|
1,384 |
| Charge for year |
2,024 |
|
2,024 |
| On disposals |
- |
|
- |
| At 31 July 2025 |
3,408 |
|
3,408 |
| Net book values |
| Closing balance as at 31 July 2025 |
4,689 |
|
4,689 |
| Opening balance as at 01 August 2024 |
9,500 |
|
9,500 |
|
| 5. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
10,000
Ordinary shares of £1.00 each |
10,000 |
|
10,000 |
|
10,000 |
|
10,000 |
|
2
|