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Logo On Report
Registered Number: 07147067
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

QUOVE ACCOUNTING LTD

Director Adrian Mole
Registered Number 07147067
Registered Office 3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
Suffolk
IP30 9QS
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2024   2023
    £ £   £ £
Fixed assets   77,040      88,205 
Current assets 121,005      131,067   
Prepayments and accrued income 4,500       
Creditors: amount falling due within one year (136,098)     (115,321)  
Net current assets   (10,593)     15,746 
Total assets less current liabilities   66,447      103,951 
Creditors: amount falling due after more than one year   (65,500)     (102,971)
Net assets   947      980 
 

         
Capital and reserves   947      980 
 
NOTES TO THE ACCOUNTS

General Information
Quove Accounting Ltd is a private company, limited by shares, registered in England and Wales, registration number 07147067, registration address 3 Brickfields Business Park, Old Stowmarket Road, Woolpit, Bury St Edmunds, Suffolk, IP30 9QS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 5
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 103,700    103,700 
Additions  
Disposals  
At 31 March 2024 103,700    103,700 
Amortisation
At 01 April 2023 43,700    43,700 
Charge for year 20,700    20,700 
On disposals  
At 31 March 2024 64,400    64,400 
Net book values
At 31 March 2024 39,300    39,300 
At 31 March 2023 60,000    60,000 


3.

Tangible fixed assets

Cost or valuation Plant and machinery   Total
  £   £
At 01 April 2023 71,426    71,426 
Additions 25,335    25,335 
Disposals  
At 31 March 2024 96,761    96,761 
Depreciation
At 01 April 2023 43,221    43,221 
Charge for year 15,800    15,800 
On disposals  
At 31 March 2024 59,021    59,021 
Net book values
Closing balance as at 31 March 2024 37,740    37,740 
Opening balance as at 01 April 2023 28,205    28,205 


4.

Average number of employees

Average number of employees during the year was 3 (2023 : 2).


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 30 June 2024 and were signed by:


--------------------------------
Adrian Mole
Director
2