Registered number
10338501
MQS PHARM LTD
Filleted Accounts
31 August 2023
MQS PHARM LTD
Registered number: 10338501
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 586 737
Current assets
Debtors 4 10,731 4,788
Cash at bank and in hand 39,260 35,958
49,991 40,746
Creditors: amounts falling due within one year 5 (9,686) (8,633)
Net current assets 40,305 32,113
Total assets less current liabilities 40,891 32,850
Creditors: amounts falling due after more than one year 6 (4,610) (11,061)
Net assets 36,281 21,789
Capital and reserves
Called up share capital 50 50
Profit and loss account 36,231 21,739
Shareholder's funds 36,281 21,789
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MOHAMMAD QASIM SADIQ
Director
Approved by the board on 6 November 2023
MQS PHARM LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 September 2022 1,512
At 31 August 2023 1,512
Depreciation
At 1 September 2022 775
At 31 August 2023 926
Net book value
At 31 August 2023 586
At 31 August 2022 737
4 Debtors 2023 2022
£ £
Trade debtors 10,731 4,788
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 7,657 6,628
Other creditors 2,029 2,005
9,686 8,633
6 Creditors: amounts falling due after one year 2023 2022
£ £
Directors Loan 4,610 11,061
7 Other information
MQS PHARM LTD is a private company limited by shares and incorporated in England. Its registered office is:
112 YEWS HILL ROAD
HUDDERSFIELD
HD1 3SG
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