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Company Registration No. 4446401 (England and Wales)
Quickfast Limited Unaudited accounts for the year ended 31 August 2023
Quickfast Limited Unaudited accounts Contents
Page
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Quickfast Limited Company Information for the year ended 31 August 2023
Director
Mr Pankaj Patel
Secretary
Mrs Dipa Patel
Company Number
4446401 (England and Wales)
Registered Office
Mile Lane Pharmacy 66 Mile Lane Bury BL8 2JR England
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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Quickfast Limited Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
40,000 
40,000 
Tangible assets
2,419 
3,179 
Investments
2,624,073 
1,188,207 
2,666,492 
1,231,386 
Current assets
Inventories
89,027 
110,266 
Debtors
355,289 
1,523,517 
Cash at bank and in hand
512,157 
604,595 
956,473 
2,238,378 
Creditors: amounts falling due within one year
(416,237)
(548,164)
Net current assets
540,236 
1,690,214 
Total assets less current liabilities
3,206,728 
2,921,600 
Provisions for liabilities
Deferred tax
(483)
(604)
Net assets
3,206,245 
2,920,996 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
3,206,145 
2,920,896 
Shareholders' funds
3,206,245 
2,920,996 
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 February 2024 and were signed on its behalf by
Mr Pankaj Patel Director Company Registration No. 4446401
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Quickfast Limited Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Quickfast Limited is a private company, limited by shares, registered in England and Wales, registration number 4446401. The registered office is Mile Lane Pharmacy, 66 Mile Lane, Bury, BL8 2JR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 September 2022
40,000 
At 31 August 2023
40,000 
Amortisation
At 1 September 2022
- 
At 31 August 2023
- 
Net book value
At 31 August 2023
40,000 
At 31 August 2022
40,000 
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Quickfast Limited Notes to the Accounts for the year ended 31 August 2023
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 September 2022
38,226 
Disposals
(2,382)
At 31 August 2023
35,844 
Depreciation
At 1 September 2022
35,047 
Charge for the year
604 
On disposals
(2,226)
At 31 August 2023
33,425 
Net book value
At 31 August 2023
2,419 
At 31 August 2022
3,179 
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
7
Average number of employees
During the year the average number of employees was 10 (2022: 10).
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