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REGISTERED NUMBER: 07602308 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

QMS (2011) LIMITED

QMS (2011) LIMITED (REGISTERED NUMBER: 07602308)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


QMS (2011) LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: S C Sheen





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07602308 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

QMS (2011) LIMITED (REGISTERED NUMBER: 07602308)

STATEMENT OF FINANCIAL POSITION
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 847 997
Investments 5 - 200,000
847 200,997

CURRENT ASSETS
Debtors 6 177,763 64,524
Cash at bank 1,465 52,534
179,228 117,058
CREDITORS
Amounts falling due within one year 7 43,463 128,027
NET CURRENT ASSETS/(LIABILITIES) 135,765 (10,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,612

190,028

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 135,612 189,028
136,612 190,028

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:




S C Sheen - Director


QMS (2011) LIMITED (REGISTERED NUMBER: 07602308)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

QMS (2011) 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.

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.

Turnover
Turnover represents net invoiced sales and is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 profit or loss in the period to which they relate.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

QMS (2011) LIMITED (REGISTERED NUMBER: 07602308)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 3,576
DEPRECIATION
At 1 November 2022 2,579
Charge for year 150
At 31 October 2023 2,729
NET BOOK VALUE
At 31 October 2023 847
At 31 October 2022 997

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022 223,000
Disposals (140,000 )
Reclassification/transfer (60,000 )
At 31 October 2023 23,000
PROVISIONS
At 1 November 2022
and 31 October 2023 23,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 177,763 64,524

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 3,926 3,600
Taxation and social security 34,537 37,032
Other creditors 5,000 87,395
43,463 128,027

Included in other creditors are accrued expenses of £5,000 (2022: £5,000).

QMS (2011) LIMITED (REGISTERED NUMBER: 07602308)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
S C Sheen
Balance outstanding at start of year (82,394 ) 102,552
Amounts advanced 131,198 5,105
Amounts repaid - (190,051 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,804 (82,394 )

Included within the amount advanced is interest of £1,074 charged at HMRC prescribed rate on the outstanding loan balance. The overdrawn loan balance is repayable on demand and personally guaranteed by the director.