AQUIREUK LIMITED


Directors	HARPER, Ross Alexander
	LOGAN, Raymond


Company Secretary	LAURIE, Lynne


Registered Address	Titanium 1 King's Inch Place
	Renfrew
	PA4 8WF


Registered Number	SC726486 (Scotland)

Notes to the Financial Statements
for the period ended 28 February 2026

1.	Accounting policies

	Statutory information
	AquireUK Limited is a private company, limited by shares, registered in Scotland. The company’s registered number is SC726486 and registered office address is Titanium 1, King's Inch Place, Renfrew, PA4 8WF. The nature of the company's operations and its principal activities are that of buying and selling residential property.

	Statement of compliance
	These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Statement of compliance

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

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

	Going concern
	The financial statements have been prepared in accordance with Financial Reporting Standard 102, except for the departure from the going concern basis of accounting as described below. The directors have resolved to cease trading and wind up the company’s operations. Accordingly, the financial statements have not been prepared on a going concern basis. Instead, the financial statements have been prepared on a break-up basis. Under this basis, assets are stated at their estimated realisable values and liabilities are stated at the amounts expected to be settled. At the balance sheet date, the company’s principal liabilities comprise amounts due to the directors. The directors acknowledge that the company may not have sufficient funds to repay these balances in full. The directors have confirmed that they will only seek repayment to the extent that funds are available. No adjustment has been made to reflect any obligation to repay these balances in full.

Going concern

The financial statements have been prepared in accordance with Financial Reporting Standard 102, except for the departure from the going concern basis of accounting as described below. 

The directors have resolved to cease trading and wind up the company’s operations. Accordingly, the financial statements have not been prepared on a going concern basis. Instead, the financial statements have been prepared on a break-up basis. Under this basis, assets are stated at their estimated realisable values and liabilities are stated at the amounts expected to be settled.

At the balance sheet date, the company’s principal liabilities comprise amounts due to the directors. The directors acknowledge that the company may not have sufficient funds to repay these balances in full. The directors have confirmed that they will only seek repayment to the extent that funds are available. No adjustment has been made to reflect any obligation to repay these balances in full.

	Judgements and key sources of estimation uncertainty
	In preparing these financial statements, the directors have made the following judgements: Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Bad debts are provided for where objective evidence of the need for a provision exists. Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

Judgements and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

	Turnover policy
	Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due; - the costs incurred can be measured reliably

Turnover policy

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: 

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Current taxation
	Current tax is recognised based on taxable profit for the period.

	Deferred tax
	Deferred tax is recognised where material.

	Tangible fixed assets and depreciation
	Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.


		Reducing balance (%)
	Vehicles	20
	Office Equipment	33

	Investment property
	Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition i. investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise; and ii. no depreciation is provided in respect of investment properties applying the fair value model. If a reliable measure is not available without undue cost or effort for an item of investment property, this item is thereafter accounted for as tangible fixed assets in accordance with section 17 until a reliable measure of fair value becomes available.

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.

Subsequent to initial recognition
i. investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise; and

ii. no depreciation is provided in respect of investment properties applying the fair value model. 

If a reliable measure is not available without undue cost or effort for an item of investment property, this item is thereafter accounted for as tangible fixed assets in accordance with section 17 until a reliable measure of fair value becomes available.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

	Cash and cash equivalents
	Cash comprises balances held at bank.

	Financial instruments
	Basic financial assets and liabilities are initially recognised at transaction price and subsequently measured at amortised cost.

2.	Average number of employees


		2026		2024
	Average number of employees during the year	3		8

3.	Tangible fixed assets

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 November 24	14,394	4,648	19,042
Disposals	(14,394)	(4,648)	(19,042)
Depreciation and impairment
At 01 November 24	5,796	2,212	8,008
Charge for year	573	270	843
On disposals	(6,369)	(2,482)	(8,851)
Net book value
At 28 February 26	-	-	-
At 31 October 24	8,598	2,436	11,034

4.	Investment property


		£
	Fair value at 01 November 24	536,341
	Disposals	(536,341)
	At 28 February 26	-

5.	Stocks

	2026	2024
	£	£
Work in progress	-	1,131,518
Total	-	1,131,518

6.	Creditors: amounts due within one year

	2026	2024
	£	£
Trade creditors / trade payables	-	14,293
Bank borrowings and overdrafts	-	1,144,689
Finance lease and HP contracts	-	2,399
Other creditors	912,330	1,442,760
Accrued liabilities and deferred income	2,724	21,298
Total	915,054	2,625,439

7.	Creditors: amounts due after one year

	2026	2024
	£	£
Other creditors	-	4,198
Total	-	4,198

8.	Obligations under finance leases

		2026		2024
		£		£
	Finance lease and HP contracts	-		6,597

9.	Directors advances, credits and guarantees
	During the year the company benefited from an interest free loan from its directors. The balance due to the directors at 28 February 2026 is £914,875 (2024: £1,435,081)

10.	Controlling party
	There is no ultimate controlling party as no individual shareholder can act in isolation.

11.	Change in reporting period and impact on comparability
	These financial statements cover the period from 1 November 2024 to 28 February 2026, which is an extended accounting period. This extended period has been adopted to align the company’s period end with the closure of the company. The comparative figures presented are for the previous period from 1 November 2023 to 31 October 2024. As a result, the amounts presented in the Statement of Comprehensive Income are not entirely comparable.

11.

Change in reporting period and impact on comparability

These financial statements cover the period from 1 November 2024 to 28 February 2026, which is an extended accounting period. This extended period has been adopted to align the company’s period end with the closure of the company.

The comparative figures presented are for the previous period from 1 November 2023 to 31 October 2024. As a result, the amounts presented in the Statement of Comprehensive Income are not entirely comparable.

	Notes	28 Feb 2026		31 Oct 2024
		£	£	£	£
Fixed assets
Tangible assets	3		-		11,034
Investment property	4		-		536,341
			-		547,375
Current assets
Stocks	5	-		1,131,518
Debtors		-		18,387
Cash at bank and on hand		27,839		344,183
		27,839		1,494,088
Creditors amounts falling due within one year	6	(915,054)		(2,625,439)
Net current assets (liabilities)			(887,215)		(1,131,351)
Total assets less current liabilities			(887,215)		(583,976)
Creditors amounts falling due after one year	7		-		(4,198)
Net assets			(887,215)		(588,174)
Capital and reserves
Called up share capital			200		200
Profit and loss account			(887,415)		(588,374)
Shareholders' funds			(887,215)		(588,174)