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REGISTERED NUMBER: 03700271 (England and Wales)



Financial Statements for the Year Ended 28 February 2023

for

Qfc Contractors Ltd

Qfc Contractors Ltd (Registered number: 03700271)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


Qfc Contractors Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr P S Goodwin
Mr A A Kennedy
Mr W Worthington





SECRETARY: Mr P S Goodwin





REGISTERED OFFICE: Building E2
Fieldhouse Farm
Dunnings Lane
Brentwood
Essex
CM13 3HE





REGISTERED NUMBER: 03700271 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Qfc Contractors Ltd (Registered number: 03700271)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,779 2,372

CURRENT ASSETS
Stocks 5 180,000 54,570
Debtors 6 283,544 189,999
Cash at bank 32,528 105,594
496,072 350,163
CREDITORS
Amounts falling due within one year 7 (489,592 ) (324,015 )
NET CURRENT ASSETS 6,480 26,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,259

28,520

PROVISIONS FOR LIABILITIES 8 (7,714 ) (6,744 )
NET ASSETS 545 21,776

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 445 21,676
SHAREHOLDERS' FUNDS 545 21,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

Qfc Contractors Ltd (Registered number: 03700271)

Statement of Financial Position - continued
28 February 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:





Mr P S Goodwin - Director


Qfc Contractors Ltd (Registered number: 03700271)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. STATUTORY INFORMATION

Qfc Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Qfc Contractors Ltd (Registered number: 03700271)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 29,904 6,500 36,404
DEPRECIATION
At 1 March 2022 27,649 6,383 34,032
Charge for year 564 29 593
At 28 February 2023 28,213 6,412 34,625
NET BOOK VALUE
At 28 February 2023 1,691 88 1,779
At 28 February 2022 2,255 117 2,372

5. STOCKS
28.2.23 28.2.22
£    £   
Stock and Work in Progress 180,000 54,570

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 88,693 160,503
S455 Tax 41,580 -
Directors' current accounts 127,938 -
VAT 25,333 29,496
283,544 189,999

Qfc Contractors Ltd (Registered number: 03700271)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 124,241 158,092
Trade creditors 54,390 4,264
Tax 188,829 120,770
Social security and other taxes 47,486 25,563
Pension payable - 364
Sub contractors Wages Payable 61,730 -
Credit cards 2,416 1,823
Directors' current accounts - 2,639
Accrued expenses 10,500 10,500
489,592 324,015

8. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 7,714 6,744

Deferred
tax
£   
Balance at 1 March 2022 6,744
Provided during year 970
Balance at 28 February 2023 7,714

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 March 2022 21,676
Profit for the year 139,269
Dividends (160,500 )
At 28 February 2023 445