Company registration number 07329915 (England and Wales)
Quietpresence Limited
Unaudited
Financial Statements
for the year ended 31 January 2023
PAGES FOR FILING WITH REGISTRAR
Quietpresence Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Quietpresence Limited
Statement of financial position
as at 31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
110,326
120,875
Current assets
Stocks
19,056
16,506
Debtors
5
340,481
303,693
Cash at bank and in hand
253,401
335,135
612,938
655,334
Creditors: amounts falling due within one year
6
(404,076)
(616,267)
Net current assets
208,862
39,067
Total assets less current liabilities
319,188
159,942
Creditors: amounts falling due after more than one year
7
(105,000)
(166,250)
Net assets/(liabilities)
214,188
(6,308)
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
214,186
(6,310)
Total equity
214,188
(6,308)
Quietpresence Limited
Statement of financial position (continued)
as at 31 January 2023
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 October 2023 and are signed on its behalf by:
P M Barker
Director
Company Registration No. 07329915
Quietpresence Limited
Notes to the financial statements
for the year ended 31 January 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

Through the continued support of the directors and group companies, it is still appropriate to prepare the accounts as a going concern basis.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised upon receipt of cash.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
- 20% reducing balance
Stocks

Stock is valued at the lower of cost and net realisable value.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.  Timing differences represent accumulated differences between the company's taxable profit and its financial profit and arise primarily from the difference between accelerated capital allowances and depreciation.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Quietpresence Limited
Notes to the financial statements (continued)
for the year ended 31 January 2023
1
Accounting policies
(continued)
- 4 -
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
38
36
Quietpresence Limited
Notes to the financial statements (continued)
for the year ended 31 January 2023
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 February 2022
225,993
Additions
15,743
Disposals
(16,477)
At 31 January 2023
225,259
Depreciation and impairment
At 1 February 2022
105,118
Depreciation charged in the year
26,237
Eliminated in respect of disposals
(5,039)
Adjustments
(11,383)
At 31 January 2023
114,933
Carrying amount
At 31 January 2023
110,326
At 31 January 2022
120,875
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
270
-
0
Other debtors
325,518
303,693
Prepayments and accrued income
14,693
-
0
340,481
303,693
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
35,000
8,750
Trade creditors
91,694
225,851
Corporation tax
33,129
-
0
Other taxation and social security
95,089
69,676
Other creditors
117,292
269,812
Accruals and deferred income
31,872
42,178
404,076
616,267

The bank loan is secured.

Quietpresence Limited
Notes to the financial statements (continued)
for the year ended 31 January 2023
- 6 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
105,000
166,250

The bank loan is secured.

8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
9
Company information

Quietpresence Limited is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

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