Registered number
06806894
CQFD UK Limited
Unaudited Filleted Accounts
2 August 2023
CQFD UK Limited
Registered number: 06806894
Balance Sheet
as at 2 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,379 26,129
Current assets
Debtors 4 59,853 78,037
Cash at bank and in hand 2,569 2,161
62,422 80,198
Creditors: amounts falling due within one year 5 (84,617) (80,399)
Net current liabilities (22,195) (201)
Total assets less current liabilities (1,816) 25,928
Creditors: amounts falling due after more than one year 6 (55,511) (98,454)
Provisions for liabilities (3,221) (4,171)
Net liabilities (60,548) (76,697)
Capital and reserves
Called up share capital 100 100
Profit and loss account (60,648) (76,797)
Shareholder's funds (60,548) (76,697)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Hart
Director
Approved by the board on 24 April 2024
CQFD UK Limited
Notes to the Accounts
for the year ended 2 August 2023
1 Accounting policies
Turnover
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.
Tangible fixed assets
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:
Leashold improvements 25% reducing balance
Plant and machinery etc. 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 3 August 2022 25,151 116,936 142,087
At 2 August 2023 25,151 116,936 142,087
Depreciation
At 3 August 2022 19,770 96,188 115,958
Charge for the year 1,364 4,386 5,750
At 2 August 2023 21,134 100,574 121,708
Net book value
At 2 August 2023 4,017 16,362 20,379
At 2 August 2022 5,381 20,748 26,129
4 Debtors 2023 2022
£ £
Trade debtors 36,048 27,226
Other debtors 23,805 50,811
59,853 78,037
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 45,135 43,227
Taxation and social security costs 3,264 5,676
Other creditors 36,218 31,496
84,617 80,399
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 55,511 98,454
7 Other information
CQFD UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cambridge House
32 Padwell Road
Southampton
Hampshire
SO14 6QZ
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