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REGISTERED NUMBER: 12954453 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 October 2023

for

HQC Ltd

HQC Ltd (Registered number: 12954453)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HQC Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J Gallagher





REGISTERED OFFICE: CFC House
Woodseats Close
Sheffield
S8 0TB





REGISTERED NUMBER: 12954453 (England and Wales)





ACCOUNTANTS: Camplejohn Rowan
CFC House
Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

HQC Ltd (Registered number: 12954453)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 23,351 8,118

CURRENT ASSETS
Debtors 5 13,241 15,452
Cash at bank 24,386 13,090
37,627 28,542
CREDITORS
Amounts falling due within one year 6 (10,414 ) (13,693 )
NET CURRENT ASSETS 27,213 14,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,564

22,967

CREDITORS
Amounts falling due after more than one year 7 (13,930 ) -

PROVISIONS FOR LIABILITIES (4,437 ) (1,542 )
NET ASSETS 32,197 21,425

CAPITAL AND RESERVES
Called up share capital 8 75 75
Retained earnings 9 32,122 21,350
SHAREHOLDERS' FUNDS 32,197 21,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HQC Ltd (Registered number: 12954453)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2023 and were signed by:





J Gallagher - Director


HQC Ltd (Registered number: 12954453)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

HQC 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 represents the sale of services. It is recognised when the services are provided.

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

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 balance sheet 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

HQC Ltd (Registered number: 12954453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 551 5,500 4,000 774 10,825
Additions 896 - 22,120 - 23,016
At 31 October 2023 1,447 5,500 26,120 774 33,841
DEPRECIATION
At 1 November 2022 138 1,375 1,000 194 2,707
Charge for year 327 1,031 6,280 145 7,783
At 31 October 2023 465 2,406 7,280 339 10,490
NET BOOK VALUE
At 31 October 2023 982 3,094 18,840 435 23,351
At 31 October 2022 413 4,125 3,000 580 8,118

Assets held under hire purchase agreements had a net book value of £17,972 at the year end date (2022: £nil). Depreciation charged on these assets during the year totalled £4,147 (2022: £nil).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 8,485 15,070
VAT 4,756 382
13,241 15,452

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 3,634 -
Trade creditors 5,348 3,340
Tax 1,013 4,505
Social security and other taxes 384 344
Directors' current accounts 35 5,504
10,414 13,693

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 13,930 -

HQC Ltd (Registered number: 12954453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
75 Ordinary £1 75 75

9. RESERVES
Retained
earnings
£   

At 1 November 2022 21,350
Profit for the year 14,022
Dividends (3,250 )
At 31 October 2023 32,122