Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr T J Russell 20/11/2021 Mr S J Russell 07/02/2017 16 April 2024 The principal activity of the Company during the financial year is manufacturing of metal structures and parts of structures. 10605661 2023-10-31 10605661 bus:Director1 2023-10-31 10605661 bus:Director2 2023-10-31 10605661 2022-10-31 10605661 core:CurrentFinancialInstruments 2023-10-31 10605661 core:CurrentFinancialInstruments 2022-10-31 10605661 core:Non-currentFinancialInstruments 2023-10-31 10605661 core:Non-currentFinancialInstruments 2022-10-31 10605661 core:ShareCapital 2023-10-31 10605661 core:ShareCapital 2022-10-31 10605661 core:RetainedEarningsAccumulatedLosses 2023-10-31 10605661 core:RetainedEarningsAccumulatedLosses 2022-10-31 10605661 core:Vehicles 2022-10-31 10605661 core:OfficeEquipment 2022-10-31 10605661 core:Vehicles 2023-10-31 10605661 core:OfficeEquipment 2023-10-31 10605661 2022-11-01 2023-10-31 10605661 bus:FilletedAccounts 2022-11-01 2023-10-31 10605661 bus:SmallEntities 2022-11-01 2023-10-31 10605661 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 10605661 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10605661 bus:Director1 2022-11-01 2023-10-31 10605661 bus:Director2 2022-11-01 2023-10-31 10605661 core:Vehicles 2022-11-01 2023-10-31 10605661 core:OfficeEquipment 2022-11-01 2023-10-31 10605661 2021-11-01 2022-10-31 10605661 core:Non-currentFinancialInstruments 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Company No: 10605661 (England and Wales)

QC ENGINEERING SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

QC ENGINEERING SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

QC ENGINEERING SOLUTIONS LIMITED

BALANCE SHEET

As at 31 October 2023
QC ENGINEERING SOLUTIONS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,016 5,355
4,016 5,355
Current assets
Debtors 4 10,092 40,291
Cash at bank and in hand 649 6,320
10,741 46,611
Creditors: amounts falling due within one year 5 ( 11,639) ( 44,448)
Net current (liabilities)/assets (898) 2,163
Total assets less current liabilities 3,118 7,518
Creditors: amounts falling due after more than one year 6 0 ( 3,542)
Provision for liabilities ( 1,004) ( 1,017)
Net assets 2,114 2,959
Capital and reserves
Called-up share capital 1 1
Profit and loss account 2,113 2,958
Total shareholders' funds 2,114 2,959

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of QC Engineering Solutions Limited (registered number: 10605661) were approved and authorised for issue by the Board of Directors on 16 April 2024. They were signed on its behalf by:

Mr S J Russell
Director
QC ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
QC ENGINEERING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

QC Engineering Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp 18, Unit 23, Melville Building East, Royal William Yard, Plymouth, PL1 3GW, United Kingdom. The principal place of business is The Yard, Unit 12 Galileo Close, Plympton, PL7 4JW.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 November 2022 5,500 4,000 9,500
At 31 October 2023 5,500 4,000 9,500
Accumulated depreciation
At 01 November 2022 2,535 1,610 4,145
Charge for the financial year 741 598 1,339
At 31 October 2023 3,276 2,208 5,484
Net book value
At 31 October 2023 2,224 1,792 4,016
At 31 October 2022 2,965 2,390 5,355

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 10,092 40,291

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 1,966 1,500
Taxation and social security 8,174 18,449
Other creditors 1,499 24,499
11,639 44,448

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 3,542

There are no amounts included above in respect of which any security has been given by the small entity.