Company Registration No. 13218001 (England and Wales)
WQS Services Ltd
Unaudited accounts
for the year ended 28 February 2023
WQS Services Ltd
Unaudited accounts
Contents
WQS Services Ltd
Company Information
for the year ended 28 February 2023
Director
Michael John Woodvine
Company Number
13218001 (England and Wales)
Registered Office
8 Friesian Gardens
Newcastle under Lyme
Staffordshire
ST5 6BB
UK
Accountants
James Accountancy Services Ltd
3 Waterloo Grove
Kidsgrove
Stoke-on-Trent
Staffordshire
ST7 4SY
WQS Services Ltd
Statement of financial position
as at 28 February 2023
Cash at bank and in hand
13,074
10,308
Creditors: amounts falling due within one year
(19,487)
(14,983)
Net current assets
13,703
825
Total assets less current liabilities
14,433
1,565
Provisions for liabilities
Called up share capital
10
10
Profit and loss account
14,285
1,415
Shareholders' funds
14,295
1,425
For the year ending 28 February 2023 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 3 November 2023 and were signed on its behalf by
Michael John Woodvine
Director
Company Registration No. 13218001
WQS Services Ltd
Notes to the Accounts
for the year ended 28 February 2023
WQS Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 13218001. The registered office is 8 Friesian Gardens, Newcastle under Lyme, Staffordshire, ST5 6BB, UK.
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.
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:
Computer equipment
20% reducing balance method
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
WQS Services Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
8,286
4,405
Loans from directors
10,628
10,085
7
Deferred taxation
2023
2022
Accelerated capital allowances
138
140
Provision at start of year
140
-
(Credited)/charged to the profit and loss account
(2)
140
Provision at end of year
138
140
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
WQS Services Ltd
Notes to the Accounts
for the year ended 28 February 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).