Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-3082022-10-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activityfalse8truetrue 02919923 2022-10-01 2023-09-30 02919923 2021-10-01 2022-09-30 02919923 2023-09-30 02919923 2022-09-30 02919923 c:Director1 2022-10-01 2023-09-30 02919923 d:MotorVehicles 2022-10-01 2023-09-30 02919923 d:MotorVehicles 2023-09-30 02919923 d:MotorVehicles 2022-09-30 02919923 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02919923 d:FurnitureFittings 2022-10-01 2023-09-30 02919923 d:FurnitureFittings 2023-09-30 02919923 d:FurnitureFittings 2022-09-30 02919923 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02919923 d:OfficeEquipment 2022-10-01 2023-09-30 02919923 d:OfficeEquipment 2023-09-30 02919923 d:OfficeEquipment 2022-09-30 02919923 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02919923 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02919923 d:CurrentFinancialInstruments 2023-09-30 02919923 d:CurrentFinancialInstruments 2022-09-30 02919923 d:Non-currentFinancialInstruments 2023-09-30 02919923 d:Non-currentFinancialInstruments 2022-09-30 02919923 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02919923 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 02919923 d:ShareCapital 2023-09-30 02919923 d:ShareCapital 2022-09-30 02919923 d:RetainedEarningsAccumulatedLosses 2023-09-30 02919923 d:RetainedEarningsAccumulatedLosses 2022-09-30 02919923 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 02919923 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 02919923 c:OrdinaryShareClass1 2022-10-01 2023-09-30 02919923 c:OrdinaryShareClass1 2023-09-30 02919923 c:OrdinaryShareClass1 2022-09-30 02919923 c:FRS102 2022-10-01 2023-09-30 02919923 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 02919923 c:FullAccounts 2022-10-01 2023-09-30 02919923 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 02919923 2 2022-10-01 2023-09-30 02919923 6 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 02919923









QMX LABORATORIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
QMX LABORATORIES LIMITED
REGISTERED NUMBER: 02919923

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
119,746
15,489

Investments
 5 
640,787
621,787

  
760,533
637,276

CURRENT ASSETS
  

Stocks
  
114,815
115,119

Debtors
 6 
1,106,847
1,097,036

Current asset investments
 7 
1,180
642

Cash at bank and in hand
  
734,550
513,006

  
1,957,392
1,725,803

Creditors: amounts falling due within one year
 8 
(380,221)
(393,360)

NET CURRENT ASSETS
  
 
 
1,577,171
 
 
1,332,443

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,337,704
1,969,719

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(29,937)
(3,507)

  
 
 
(29,937)
 
 
(3,507)

NET ASSETS
  
2,307,767
1,966,212


CAPITAL AND RESERVES
  

Called up share capital 
 10 
100
100

Profit and loss account
  
2,307,667
1,966,112

  
2,307,767
1,966,212


Page 1

 
QMX LABORATORIES LIMITED
REGISTERED NUMBER: 02919923
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G R Banks
Director

Date: 15 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


GENERAL INFORMATION

QMX Laboratories Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 4 Bolford Street, Thaxted, Dunmow, Essex, CM6 2PY. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Tunover comprises revenue recognised by the Company in respect of goods supplied during the year, exclusive of Value Added Tax. Turnover is recognised as the fair value of the consideration received or receivable and is recognised on delivery of goods.

 
2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
straight-line
Fixtures and fittings
-
10%
straight-line
Office equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

VALUATION OF INVESTMENTS

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).


4.


TANGIBLE FIXED ASSETS





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



COST OR VALUATION


At 1 October 2022
-
16,852
52,917
69,769


Additions
110,159
113
4,022
114,294



At 30 September 2023

110,159
16,965
56,939
184,063



DEPRECIATION


At 1 October 2022
-
8,468
45,812
54,280


Charge for the year on owned assets
3,672
1,277
5,088
10,037



At 30 September 2023

3,672
9,745
50,900
64,317



NET BOOK VALUE



At 30 September 2023
106,487
7,220
6,039
119,746



At 30 September 2022
-
8,384
7,105
15,489

Page 6

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


FIXED ASSET INVESTMENTS





Bonds and investments

£



COST OR VALUATION


At 1 October 2022
621,787


Additions
484,298


Disposals
(468,072)


Revaluations
2,774



At 30 September 2023
640,787





6.


DEBTORS

2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
845,000
845,000

845,000
845,000

DUE WITHIN ONE YEAR

Trade debtors
256,752
242,396

Prepayments and accrued income
5,095
9,640

1,106,847
1,097,036



7.


CURRENT ASSET INVESTMENTS

2023
2022
£
£

Listed investments
1,180
642

1,180
642


Page 7

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
103,605
-

Trade creditors
71,927
95,898

Corporation tax
107,118
96,227

Other taxation and social security
25,180
46,021

Other creditors
41,580
137,717

Accruals and deferred income
30,811
17,497

380,221
393,360


Other creditors include contributions of £1,256 (2022 - £Nil) payable to the Company's defined contribution pension scheme at the balance sheet date.

Page 8

 
QMX LABORATORIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


DEFERRED TAXATION




2023


£






At beginning of year
(3,507)


Charged to profit or loss
(26,430)



AT END OF YEAR
(29,937)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(29,937)
(3,507)

(29,937)
(3,507)


10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


 
Page 9