Registered number
SC631577
QBF Global Ltd
Filleted Accounts
31 May 2023
QBF Global Ltd
Registered number: SC631577
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 7,000 -
Cash at bank and in hand 701 703
7,701 703
Creditors: amounts falling due within one year 4 (3,329) (1,506)
Net current assets/(liabilities) 4,372 (803)
Total assets less current liabilities 4,372 (803)
Creditors: amounts falling due after more than one year 5 (44) (434)
Net assets/(liabilities) 4,328 (1,237)
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,327 (1,238)
Shareholders' funds 4,328 (1,237)
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 Foy
Director
Approved by the board on 26 February 2024
QBF Global Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of service sand 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.
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 periods.
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 1 1
3 Debtors 2023 2022
£ £
Other debtors 7,000 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 2,255 907
Other creditors 1,074 599
3,329 1,506
5 Creditors: amounts falling due after one year 2023 2022
£ £
Director's account 44 434
6 Other information
QBF Global Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
5 Silverbarton Terrace
Burntisland
Fife
KY3 0JA
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