QUENET CONSULTANCY LTD |
Notes to the Accounts |
for the year ended 31 October 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 10 years |
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Fixtures, fittings, tools and equipment |
over 10 years |
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Debtors |
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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. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 November 2022 |
2,415 |
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Additions |
628 |
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At 31 October 2023 |
3,043 |
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Depreciation |
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At 1 November 2022 |
1,863 |
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Charge for the year |
304 |
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At 31 October 2023 |
2,167 |
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Net book value |
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At 31 October 2023 |
876 |
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At 31 October 2022 |
552 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Trade debtors |
10,710 |
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3,600 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
11,854 |
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16,296 |
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Other creditors |
7,367 |
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8,231 |
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19,221 |
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24,527 |
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6 |
Controlling party |
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The company is under the control of the Directors by virtue of them owning the fully issued share capital. |
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7 |
Other information |
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QUENET CONSULTANCY LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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70 BYWELL ROAD |
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DEWSBURY |
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WF12 7LH |