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Registered number: 14493380
Qixuan Ltd
Financial Statements
For the Period 18 November 2022 to 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14493380
30 November 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 1,122
1,122
CURRENT ASSETS
Stocks 5 2,200
Debtors 6 726
Cash at bank and in hand 8,704
11,630
Creditors: Amounts Falling Due Within One Year 7 (11,124 )
NET CURRENT ASSETS (LIABILITIES) 506
TOTAL ASSETS LESS CURRENT LIABILITIES 1,628
PROVISIONS FOR LIABILITIES
Deferred Taxation (213 )
NET ASSETS 1,415
CAPITAL AND RESERVES
Called up share capital 8 100
Profit and Loss Account 1,315
SHAREHOLDERS' FUNDS 1,415
Page 1
Page 2
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Xiaoying Wang
Director
15/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Qixuan Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14493380 . The registered office is 78 Edensor Road, Longton, Stoke-On-Trent, ST3 2QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% reducing balance method
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for account purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 6
6
Page 3
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 18 November 2022 -
Additions 1,326
As at 30 November 2023 1,326
Depreciation
As at 18 November 2022 -
Provided during the period 204
As at 30 November 2023 204
Net Book Value
As at 30 November 2023 1,122
As at 18 November 2022 -
5. Stocks
30 November 2023
£
Stock 2,200
6. Debtors
30 November 2023
£
Due within one year
Trade debtors 319
Other debtors 407
726
7. Creditors: Amounts Falling Due Within One Year
30 November 2023
£
Other creditors 3,594
Taxation and social security 7,530
11,124
8. Share Capital
30 November 2023
£
Allotted, Called up and fully paid 100
Page 4
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9. Dividends
30 November 2023
£
On equity shares:
Final dividend paid 16,000
10. Related Party Transactions
During the year, the director receives dividends totalling £16,000 from the company.
Page 5