IRIS Accounts Production v24.2.0.383 NI609100 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6091002022-09-30NI6091002023-09-30NI6091002022-10-012023-09-30NI6091002021-09-30NI6091002021-10-012022-09-30NI6091002022-09-30NI609100ns15:NorthernIreland2022-10-012023-09-30NI609100ns14:PoundSterling2022-10-012023-09-30NI609100ns10:Director12022-10-012023-09-30NI609100ns10:PrivateLimitedCompanyLtd2022-10-012023-09-30NI609100ns10:SmallEntities2022-10-012023-09-30NI609100ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-30NI609100ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-30NI609100ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-30NI609100ns10:FullAccounts2022-10-012023-09-30NI60910012022-10-012023-09-30NI609100ns10:Director22022-10-012023-09-30NI609100ns10:CompanySecretary12022-10-012023-09-30NI609100ns10:RegisteredOffice2022-10-012023-09-30NI609100ns5:CurrentFinancialInstruments2023-09-30NI609100ns5:CurrentFinancialInstruments2022-09-30NI609100ns5:ShareCapital2023-09-30NI609100ns5:ShareCapital2022-09-30NI609100ns5:RetainedEarningsAccumulatedLosses2023-09-30NI609100ns5:RetainedEarningsAccumulatedLosses2022-09-30NI609100ns5:NetGoodwill2022-10-012023-09-30NI609100ns5:IntangibleAssetsOtherThanGoodwill2022-10-012023-09-30NI609100ns5:PlantMachinery2022-10-012023-09-30NI609100ns5:MotorVehicles2022-10-012023-09-30NI609100ns5:NetGoodwill2022-09-30NI609100ns5:NetGoodwill2023-09-30NI609100ns5:NetGoodwill2022-09-30NI609100ns5:PlantMachinery2022-09-30NI609100ns5:MotorVehicles2022-09-30NI609100ns5:PlantMachinery2023-09-30NI609100ns5:MotorVehicles2023-09-30NI609100ns5:PlantMachinery2022-09-30NI609100ns5:MotorVehicles2022-09-30NI609100ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-30NI609100ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-30
REGISTERED NUMBER: NI609100 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

QEL AIR LTD

QEL AIR LTD (REGISTERED NUMBER: NI609100)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QEL AIR LTD

COMPANY INFORMATION
for the Year Ended 30 SEPTEMBER 2023







DIRECTORS: Mr T Elliott
Mrs R Elliott



SECRETARY: Mrs R Elliott



REGISTERED OFFICE: 115 Moybrone Road
Letterbreen
Enniskillen
Co. Fermanagh
BT749EP



REGISTERED NUMBER: NI609100 (Northern Ireland)



ACCOUNTANTS: Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT



BANKERS: Danske Bank
183 Donegall Square West
Belfast
BT1 6JS

QEL AIR LTD (REGISTERED NUMBER: NI609100)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 33,103 13,580
33,103 13,580

CURRENT ASSETS
Stocks 35,650 20,271
Debtors 5 57,223 21,625
Cash at bank 41,133 6,174
134,006 48,070
CREDITORS
Amounts falling due within one year 6 151,724 57,395
NET CURRENT LIABILITIES (17,718 ) (9,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,385

4,255

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 15,285 4,155
SHAREHOLDERS' FUNDS 15,385 4,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

QEL AIR LTD (REGISTERED NUMBER: NI609100)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





Mr T Elliott - Director


QEL AIR LTD (REGISTERED NUMBER: NI609100)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 SEPTEMBER 2023


1. 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 of goods and services excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

QEL AIR LTD (REGISTERED NUMBER: NI609100)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 SEPTEMBER 2023


2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 10,600
AMORTISATION
At 1 October 2022
and 30 September 2023 10,600
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2022 13,395 11,000 24,395
Additions 35,409 - 35,409
At 30 September 2023 48,804 11,000 59,804
DEPRECIATION
At 1 October 2022 4,971 5,844 10,815
Charge for year 14,597 1,289 15,886
At 30 September 2023 19,568 7,133 26,701
NET BOOK VALUE
At 30 September 2023 29,236 3,867 33,103
At 30 September 2022 8,424 5,156 13,580

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 51,820 20,123
VAT 5,403 1,502
57,223 21,625

QEL AIR LTD (REGISTERED NUMBER: NI609100)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 SEPTEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other loans 6,150 8,845
Trade creditors 92,104 12,304
Directors' current accounts 46,613 36,246
Accrued expenses 6,857 -
151,724 57,395

7. GOING CONCERN

The directors have identified material uncertainties relating to events and conditions that may cast significant doubt about the company's ability to continue as a going concern in particular the company has net assets of £15,385. The directors believe the company will be able to continue as a going concern as they have funded the company by the way of a loan and will continue to do so for the foreseeable future. On this basis the directors consider that the going concern basis is appropriate.