Surf AccountsProduction v1.0.0 v1.0.0 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of training and educational services. 19 October 2023 1 1 NI067666 2023-07-31 NI067666 2022-07-31 NI067666 2021-07-31 NI067666 2022-08-01 2023-07-31 NI067666 2021-08-01 2022-07-31 NI067666 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI067666 uk-curr:PoundSterling 2022-08-01 2023-07-31 NI067666 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI067666 uk-bus:FullAccounts 2022-08-01 2023-07-31 NI067666 uk-core:ShareCapital 2023-07-31 NI067666 uk-core:ShareCapital 2022-07-31 NI067666 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI067666 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI067666 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI067666 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI067666 uk-bus:FRS102 2022-08-01 2023-07-31 NI067666 uk-core:Goodwill 2022-08-01 2023-07-31 NI067666 uk-core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 NI067666 uk-core:Goodwill 2022-07-31 NI067666 uk-core:Goodwill 2023-07-31 NI067666 uk-core:CurrentFinancialInstruments 2023-07-31 NI067666 uk-core:CurrentFinancialInstruments 2022-07-31 NI067666 uk-core:WithinOneYear 2023-07-31 NI067666 uk-core:WithinOneYear 2022-07-31 NI067666 uk-core:WithinOneYear 2023-07-31 NI067666 uk-core:WithinOneYear 2022-07-31 NI067666 uk-core:AfterOneYear 2023-07-31 NI067666 uk-core:AfterOneYear 2022-07-31 NI067666 uk-core:AfterOneYear 2023-07-31 NI067666 uk-core:AfterOneYear 2022-07-31 NI067666 uk-core:BetweenOneTwoYears 2023-07-31 NI067666 uk-core:BetweenOneTwoYears 2022-07-31 NI067666 uk-core:BetweenTwoFiveYears 2023-07-31 NI067666 uk-core:BetweenTwoFiveYears 2022-07-31 NI067666 uk-core:OtherMiscellaneousReserve 2022-07-31 NI067666 uk-core:OtherMiscellaneousReserve 2022-08-01 2023-07-31 NI067666 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-07-31 NI067666 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-07-31 NI067666 uk-core:OtherDeferredTax 2023-07-31 NI067666 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-07-31 NI067666 uk-core:OtherMiscellaneousReserve 2023-07-31 NI067666 2022-08-01 2023-07-31 NI067666 uk-bus:Director1 2022-08-01 2023-07-31 NI067666 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
Company Registration Number: NI067666
 
 
PDQ Solutions Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2023
PDQ Solutions Ltd
Company Registration Number: NI067666
BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 5 57,500 69,000
Tangible assets 6 1,428 1,785
───────── ─────────
58,928 70,785
───────── ─────────
 
Current Assets
Debtors 7 3,486 1,350
Cash and cash equivalents 854 12,997
───────── ─────────
4,340 14,347
───────── ─────────
Creditors: amounts falling due within one year 8 (4,605) (4,559)
───────── ─────────
Net Current (Liabilities)/Assets (265) 9,788
───────── ─────────
Total Assets less Current Liabilities 58,663 80,573
 
Creditors:
amounts falling due after more than one year 9 (121,123) (122,989)
 
Provisions for liabilities 11 847 (239)
───────── ─────────
Net Liabilities (61,613) (42,655)
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings (61,623) (42,665)
───────── ─────────
Equity attributable to owners of the company (61,613) (42,655)
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 19 October 2023
           
           
________________________________          
Mr. John Mulholland          
Director          
           



PDQ Solutions Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
PDQ Solutions Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 16 Raphael Road, Carrickfergus, Co Antrim, BT38 9QZ which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The balance sheet shows a deficiency of assets on a historical costs basis of £61,613. However, £115,650 of the deficiency has been created by the existence of loans from the director and his relatives which are not payable in the foreseeable future. It is considered that the preparation of accounts on the going concern basis to be appropriate.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2023 2022
  Number Number
 
Employees 1 1
  ═════════ ═════════
       
5. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 August 2022 230,000 230,000
  ───────── ─────────
 
At 31 July 2023 230,000 230,000
  ───────── ─────────
Amortisation
At 1 August 2022 161,000 161,000
Charge for financial year 11,500 11,500
  ───────── ─────────
At 31 July 2023 172,500 172,500
  ───────── ─────────
Net book value
At 31 July 2023 57,500 57,500
  ═════════ ═════════
At 31 July 2022 69,000 69,000
  ═════════ ═════════
       
6. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 August 2022 8,356 8,356
  ───────── ─────────
 
At 31 July 2023 8,356 8,356
  ───────── ─────────
Depreciation
At 1 August 2022 6,571 6,571
Charge for the financial year 357 357
  ───────── ─────────
At 31 July 2023 6,928 6,928
  ───────── ─────────
Net book value
At 31 July 2023 1,428 1,428
  ═════════ ═════════
At 31 July 2022 1,785 1,785
  ═════════ ═════════
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 3,340 1,350
Taxation  (Note 10) 146 -
  ───────── ─────────
  3,486 1,350
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 2,605 2,484
Taxation  (Note 10) - 75
Accruals 2,000 2,000
  ───────── ─────────
  4,605 4,559
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 5,473 7,982
Director's loan accounts 115,650 115,007
  ───────── ─────────
  121,123 122,989
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 2,605 2,484
Repayable between one and two years 2,604 2,604
Repayable between two and five years 2,869 5,378
  ───────── ─────────
  8,078 10,466
  ═════════ ═════════
 
       
10. Taxation 2023 2022
  £ £
 
Debtors:
PAYE / NI 146 -
  ═════════ ═════════
Creditors:
PAYE / NI - 75
  ═════════ ═════════
           
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2023 2022
  £ £ £ £
 
At financial year start 328 (89) 239 348
Charged to profit and loss (66) (1,020) (1,086) (109)
  ───────── ───────── ───────── ─────────
At financial year end 262 (1,109) (847) 239
  ═════════ ═════════ ═════════ ═════════
           
12. Related party transactions
 
At the start of the year PDQ Solutions Ltd owed the director and his wife £115,007. During the year PDQ Solutions Ltd borrowed a further £22,315 and repaid £21,672 to the director and his wife. This left a closing balance of £115,650 (2022: £115,007), which is included in the creditors section of the balance sheet.