Company Registration No. 12356968 (England and Wales)
Q LAB LTD
Unaudited accounts
for the year ended 31 December 2022
Q LAB LTD
Unaudited accounts
Contents
Q LAB LTD
Company Information
for the year ended 31 December 2022
Company Number
12356968 (England and Wales)
Registered Office
6 MOLE PLACE
WEST MOLESEY
KT8 2AG
UNITED KINGDOM
Q LAB LTD
Statement of financial position
as at 31 December 2022
Tangible assets
185,239
182,664
Cash at bank and in hand
98,900
7,175
Creditors: amounts falling due within one year
(136,983)
(97,991)
Net current assets/(liabilities)
146,709
(71)
Total assets less current liabilities
331,948
182,593
Creditors: amounts falling due after more than one year
(63,637)
(69,122)
Net assets
268,311
113,471
Called up share capital
100
100
Share premium
60,000
60,000
Profit and loss account
208,211
53,371
Shareholders' funds
268,311
113,471
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 April 2023 and were signed on its behalf by
ABOU HASAN, Alaa
Director
Company Registration No. 12356968
Q LAB LTD
Notes to the Accounts
for the year ended 31 December 2022
Q LAB LTD is a private company, limited by shares, registered in England and Wales, registration number 12356968. The registered office is 6 MOLE PLACE, WEST MOLESEY, KT8 2AG, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
StraightIine over 10 years
Fixtures & fittings
straightline over 10 years
Computer equipment
straight line over 4 years
Q LAB LTD
Notes to the Accounts
for the year ended 31 December 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
200,502
-
25,658
4,972
231,132
Additions
11,469
28,000
3,088
1,039
43,596
At 31 December 2022
211,971
28,000
28,746
6,011
274,728
At 1 January 2022
40,071
-
6,891
1,506
48,468
Charge for the year
26,571
7,000
5,700
1,750
41,021
At 31 December 2022
66,642
7,000
12,591
3,256
89,489
At 31 December 2022
145,329
21,000
16,155
2,755
185,239
At 31 December 2021
160,431
-
18,767
3,466
182,664
Amounts falling due within one year
Trade debtors
115,733
84,036
Accrued income and prepayments
169
169
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
11,911
27,113
Obligations under finance leases and hire purchase contracts
19,851
28,141
Trade creditors
58,494
36,226
Taxes and social security
21,698
2,020
Proposed dividends
21,428
-
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
40,257
34,286
Q LAB LTD
Notes to the Accounts
for the year ended 31 December 2022
8
Average number of employees
During the year the average number of employees was 5 (2021: 5).