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REGISTERED NUMBER: 09805394 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Quuu Limited

Quuu Limited (Registered number: 09805394)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Quuu Limited

Company Information
for the year ended 31 October 2023







DIRECTORS: S Page
D Kempe
M S Spurr
R K Sharma





REGISTERED OFFICE: Rosemore
Heaton Grange Road
Romford
Essex
RM2 5PP





REGISTERED NUMBER: 09805394 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
2 Maple Court
Davenport Street
Macclesfield
Cheshire
SK10 1JE

Quuu Limited (Registered number: 09805394)

Balance Sheet
31 October 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 16,290 23,028

CURRENT ASSETS
Debtors 5 39,450 28,306
Cash at bank 79,625 125,314
119,075 153,620
CREDITORS
Amounts falling due within one year 6 (21,453 ) (19,625 )
NET CURRENT ASSETS 97,622 133,995
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,912

157,023

CREDITORS
Amounts falling due after more than one year 7 (16,383 ) (26,458 )
NET ASSETS 97,529 130,565

CAPITAL AND RESERVES
Called up share capital 8 2 2
Share premium 175,427 175,427
Retained earnings (77,900 ) (44,864 )
SHAREHOLDERS' FUNDS 97,529 130,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 7 February 2024 and were signed on its behalf by:




D Kempe - Director



M S Spurr - Director


Quuu Limited (Registered number: 09805394)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Quuu 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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future through continued support of the directors. On this basis, the directors believe it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computer equipment- 25% on cost
Fixture and fittings - 25% on cost
Plant & Machinery- 25% on cost

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Quuu Limited (Registered number: 09805394)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors
Short term debtors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Share based payments
The fair value of equity settled share based payments is recognised as an expense over the term of the vesting period, to reflect the value of the employee services rendered. A provision is made within Other Reserves representing the value of the Option and is adjusted as the Option is exercised or lapses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 November 2022 34,936
Additions 1,977
At 31 October 2023 36,913
DEPRECIATION
At 1 November 2022 11,908
Charge for year 8,715
At 31 October 2023 20,623
NET BOOK VALUE
At 31 October 2023 16,290
At 31 October 2022 23,028

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 23,000 24,000
Other debtors 16,450 4,306
39,450 28,306

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,837 9,762
Trade creditors 360 779
Taxation and social security 8,109 6,534
Other creditors 3,147 2,550
21,453 19,625

Quuu Limited (Registered number: 09805394)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 16,383 26,458

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
17,112 Ordinary £0.0001 2 2

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company has non cancellable operating lease commitments totalling £26,080 (2022: £3,037).

10. SHARE-BASED PAYMENT TRANSACTIONS

The company established an equity settled share based payment "EMI Scheme" to incentivise employees. The options vest over a maximum period of 2 years. The number of options vested at the Balance Sheet date was 138 Ordinary Shares of £0.0001 at an exercise price of £0.0001 per share. Share Options were valued using the Black Scholes Share Option Valuation Model.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Quuu Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quuu Limited for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Quuu Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quuu Limited and state those matters that we have agreed to state to the Board of Directors of Quuu Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quuu Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quuu Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Quuu Limited. You consider that Quuu Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quuu Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Ltd
Chartered Accountants
2 Maple Court
Davenport Street
Macclesfield
Cheshire
SK10 1JE


7 February 2024