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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
Page
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Q LAB LTD Company Information for the year ended 31 December 2022
Director
ABOU HASAN, Alaa
Company Number
12356968 (England and Wales)
Registered Office
6 MOLE PLACE WEST MOLESEY KT8 2AG UNITED KINGDOM
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Q LAB LTD Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
185,239 
182,664 
Current assets
Inventories
4,140 
6,540 
Debtors
180,652 
84,205 
Cash at bank and in hand
98,900 
7,175 
283,692 
97,920 
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 
Capital and reserves
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
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Q LAB LTD Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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
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
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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 
Depreciation
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 
Net book value
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 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
115,733 
84,036 
Accrued income and prepayments
169 
169 
Other debtors
49,000 
- 
164,902 
84,205 
Amounts falling due after more than one year
Other debtors
15,750 
- 
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 
- 
Other creditors
- 
3,091 
Accruals
3,601 
1,400 
136,983 
97,991 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
23,380 
34,836 
Obligations under finance leases and hire purchase contracts
40,257 
34,286 
63,637 
69,122 
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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).
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