AIQA Limited - Period Ending 2019-08-31

AIQA Limited - Period Ending 2019-08-31


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Registration number: 11467704

AIQA Limited

Annual Report and Unaudited Financial Statements

for the Period from 17 July 2018 to 31 August 2019

 

AIQA Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

AIQA Limited

Registration number: 11467704

Balance Sheet as at 31 August 2019

Note

2019
£

Current assets

 

Debtors

4

37,320

Cash at bank and in hand

 

144,901

 

182,221

Creditors: Amounts falling due within one year

5

(54,082)

Net assets

 

128,139

Capital and reserves

 

Called up share capital

300

Profit and loss account

127,839

Total equity

 

128,139

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

AIQA Limited

Registration number: 11467704

Balance Sheet as at 31 August 2019 (continued)

For the financial period ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 January 2020
 


 

C Durand

Director

 

AIQA Limited

Notes to the Financial Statements for the Period from 17 July 2018 to 31 August 2019

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
Flat 1
123 Canfields Gardens
London
NW6 3DY
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

AIQA Limited

Notes to the Financial Statements for the Period from 17 July 2018 to 31 August 2019 (continued)

2

Accounting policies (continued)

Disclosure of long or short period

The company ceased trading on 31 August 2019 and these accounts are for the extended period of thirteen months to that date.

Going concern

The company ceased trading on 31 August 2019. It is the director's intention that all the company's assets be liquidated into cash and that as soon as all the company's liabilities have been settled, the remaining reserves will be distributed to the company's shareholders.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

 

AIQA Limited

Notes to the Financial Statements for the Period from 17 July 2018 to 31 August 2019 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Debtors

2019
£

Other debtors

37,320

Total current trade and other debtors

37,320

5

Creditors

Creditors: amounts falling due within one year

Note

2019
£

Due within one year

 

Trade creditors

 

1,651

Taxation and social security

 

51,868

Other creditors

 

563

 

54,082

 

AIQA Limited

Notes to the Financial Statements for the Period from 17 July 2018 to 31 August 2019 (continued)

6

Share capital

Allotted, called up and fully paid shares

 

2019

 

No.

£

Ordinary of £1 each

300

300

     

7

Related party transactions

Directors' remuneration

Other transactions with directors

During the year a director had a loan of £37,320, at the balance sheet date the amount outstanding was £37,320.