IRIS Accounts Production v23.3.0.418 OC379205 designated member 1.4.22 31.3.23 31.3.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3792052022-03-31OC3792052023-03-31OC3792052022-04-012023-03-31OC3792052021-03-31OC3792052021-04-012022-03-31OC3792052022-03-31OC379205ns10:Originalns15:EnglandWales2022-04-012023-03-31OC379205ns14:PoundSterlingns10:Original2022-04-012023-03-31OC379205ns10:Originalns10:Director12022-04-012023-03-31OC379205ns10:Original2022-04-012023-03-31OC379205ns10:Original2023-03-31OC379205ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC379205ns10:Originalns10:SmallEntities2022-04-012023-03-31OC379205ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC379205ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC379205ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC379205ns10:Originalns10:FullAccounts2022-04-012023-03-31OC379205ns10:Original2021-04-012022-03-31OC379205ns10:Originalns10:Director22022-04-012023-03-31OC379205ns10:Originalns10:Director32022-04-012023-03-31OC379205ns10:Originalns10:Director42022-04-012023-03-31OC379205ns10:Originalns10:Director52022-04-012023-03-31OC379205ns10:Originalns10:Director62022-04-012023-03-31OC379205ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC379205ns10:Original2022-03-31OC379205ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC379205ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC379205ns10:Originalns5:PlantMachinery2022-03-31OC379205ns10:Originalns5:PlantMachinery2022-04-012023-03-31OC379205ns10:Originalns5:PlantMachinery2023-03-31OC379205ns10:Originalns5:PlantMachinery2022-03-31OC379205ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC379205ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31
REGISTERED NUMBER: OC379205 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

QNS1 LLP

QNS1 LLP (REGISTERED NUMBER: OC379205)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


QNS1 LLP

GENERAL INFORMATION
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mr R Plartus
Mr S Bououdine (Tarik)
Mr O O Ajayi
Mr V M Sy
Mr D J C Obiago
Mrs T Ahmmed





REGISTERED OFFICE: Unit 12A, Building 2,
Canonbury Yard
190 New North Road
Islington
London
N1 7BJ





REGISTERED NUMBER: OC379205 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Chartered Accountants & Tax Advisers
Fifth Floor
11 Leadenhall Street
London
EC3V 1LP

QNS1 LLP (REGISTERED NUMBER: OC379205)

STATEMENT OF FINANCIAL POSITION
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,640 9,307

CURRENT ASSETS
Debtors 5 16,933 2,079
Cash at bank 212 20,685
17,145 22,764
CREDITORS
Amounts falling due within one year 6 7,418 8,003
NET CURRENT ASSETS 9,727 14,761
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

18,367

24,068

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 18,367 24,068
18,367 24,068

TOTAL MEMBERS' INTERESTS
Members' other interests 18,367 24,068

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

QNS1 LLP (REGISTERED NUMBER: OC379205)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 November 2023 and were signed by:





Mr R Plartus - Designated member

QNS1 LLP (REGISTERED NUMBER: OC379205)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

QNS1 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. lt also requires management to exercise judgement in applying the company's accounting policies.

Significant judgements and estimates
In preparing the financial statements, management were not required to make any estimates or judgements which materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

Turnover
Turnover comprises the value of consideration receivable from the customer for the rendering of services, net of value-added tax (VAT) rebates and discounts. Non-contract based revenue is recognised as and when the services are performed. Contract based revenue is recognised on a straight-line basis over the life of the contract.

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 machinery18% on reducing balance

QNS1 LLP (REGISTERED NUMBER: OC379205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEE INFORMATION

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

QNS1 LLP (REGISTERED NUMBER: OC379205)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1 April 2022
and 31 March 2023 19,315
Depreciation
At 1 April 2022 10,008
Charge for year 667
At 31 March 2023 10,675
Net book value
At 31 March 2023 8,640
At 31 March 2022 9,307

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 16,933 2,079

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 866 865
Taxation and social security 5,765 4,878
Other creditors 787 2,260
7,418 8,003

7. ULTIMATE CONTROLLING PARTY

Robert Plartus is the ultimate controlling party.