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REGISTERED NUMBER: 06618317 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

QUICK AXIS LIMITED

QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUICK AXIS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTORS: A Harper
Mrs J D Harper





REGISTERED OFFICE: 13/14 James Watt Close
Drayton Fields Industrial Estate
Daventry
Northamptonshire
NN11 8RJ





REGISTERED NUMBER: 06618317 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,861 20,350
15,861 20,350

CURRENT ASSETS
Debtors 6 26,191 25,953
Cash at bank 105,482 89,347
131,673 115,300
CREDITORS
Amounts falling due within one year 7 50,829 52,556
NET CURRENT ASSETS 80,844 62,744
TOTAL ASSETS LESS CURRENT LIABILITIES 96,705 83,094

PROVISIONS FOR LIABILITIES 2,092 3,088
NET ASSETS 94,613 80,006

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 94,513 79,906
SHAREHOLDERS' FUNDS 94,613 80,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

BALANCE SHEET - continued
30 June 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 Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





A Harper - Director


QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023


1. STATUTORY INFORMATION

Quick Axis Limited 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.

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by reference to the stage of completion of the transaction as at the end of the accounting period, including estimates of amounts not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 33% 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.

QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 20,000
AMORTISATION
At 1 July 2022
and 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 July 2022 5,122 73,952 9,347 88,421
Additions - - 159 159
At 30 June 2023 5,122 73,952 9,506 88,580
DEPRECIATION
At 1 July 2022 1,024 58,159 8,888 68,071
Charge for year 513 3,948 187 4,648
At 30 June 2023 1,537 62,107 9,075 72,719
NET BOOK VALUE
At 30 June 2023 3,585 11,845 431 15,861
At 30 June 2022 4,098 15,793 459 20,350

QUICK AXIS LIMITED (REGISTERED NUMBER: 06618317)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Improvements
to
property
£   
COST
At 1 July 2022
and 30 June 2023 5,122
DEPRECIATION
At 1 July 2022 1,024
Charge for year 513
At 30 June 2023 1,537
NET BOOK VALUE
At 30 June 2023 3,585
At 30 June 2022 4,098

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,531 21,532
Prepayments 660 4,421
26,191 25,953

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17,443 5,803
Corporation tax 8,305 9,911
Social security and other taxes (1,129 ) (1,129 )
VAT 3,982 4,036
Directors' current accounts 20,257 32,140
Accrued expenses 1,971 1,795
50,829 52,556

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100