BrightAccountsProduction v1.0.0 v1.0.0 2022-12-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is the provision of architectural services. 23 August 2024 4 4 NI642188 2023-11-30 NI642188 2022-11-30 NI642188 2021-11-30 NI642188 2022-12-01 2023-11-30 NI642188 2021-12-01 2022-11-30 NI642188 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI642188 uk-curr:PoundSterling 2022-12-01 2023-11-30 NI642188 uk-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI642188 uk-bus:FullAccounts 2022-12-01 2023-11-30 NI642188 uk-core:ShareCapital 2023-11-30 NI642188 uk-core:ShareCapital 2022-11-30 NI642188 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI642188 uk-core:RetainedEarningsAccumulatedLosses 2022-11-30 NI642188 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 NI642188 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-11-30 NI642188 uk-bus:FRS102 2022-12-01 2023-11-30 NI642188 uk-core:Buildings 2022-12-01 2023-11-30 NI642188 uk-core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 NI642188 uk-core:CurrentFinancialInstruments 2023-11-30 NI642188 uk-core:CurrentFinancialInstruments 2022-11-30 NI642188 uk-core:WithinOneYear 2023-11-30 NI642188 uk-core:WithinOneYear 2022-11-30 NI642188 uk-core:WithinOneYear 2023-11-30 NI642188 uk-core:WithinOneYear 2022-11-30 NI642188 uk-core:AfterOneYear 2023-11-30 NI642188 uk-core:AfterOneYear 2022-11-30 NI642188 uk-core:BetweenOneTwoYears 2023-11-30 NI642188 uk-core:BetweenOneTwoYears 2022-11-30 NI642188 uk-core:BetweenTwoFiveYears 2023-11-30 NI642188 uk-core:BetweenTwoFiveYears 2022-11-30 NI642188 uk-core:EmployeeBenefits 2022-11-30 NI642188 uk-core:EmployeeBenefits 2022-12-01 2023-11-30 NI642188 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-11-30 NI642188 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-11-30 NI642188 uk-core:OtherDeferredTax 2023-11-30 NI642188 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-11-30 NI642188 uk-core:EmployeeBenefits 2023-11-30 NI642188 2022-12-01 2023-11-30 NI642188 uk-bus:Director1 2022-12-01 2023-11-30 NI642188 uk-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI642188
 
 
OJQ Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 November 2023
OJQ Limited
Company Registration Number: NI642188
BALANCE SHEET
as at 30 November 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 20,596 25,990
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Current Assets
Stocks 5 70,526 34,518
Debtors 6 25,037 41,124
Cash and cash equivalents 554 -
───────── ─────────
96,117 75,642
───────── ─────────
Creditors: amounts falling due within one year 7 (74,409) (80,276)
───────── ─────────
Net Current Assets/(Liabilities) 21,708 (4,634)
───────── ─────────
Total Assets less Current Liabilities 42,304 21,356
 
Creditors:
amounts falling due after more than one year 8 (38,585) (18,104)
 
Provisions for liabilities 9 (1,633) (2,373)
───────── ─────────
Net Assets 2,086 879
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 1,986 779
───────── ─────────
Equity attributable to owners of the company 2,086 879
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 23 August 2024 and signed on its behalf by
           
           
________________________________          
Orin Quigg          
Director          
           



OJQ Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 November 2023

   
1. General Information
 
OJQ Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI642188. The registered office of the company is The Gadda Building, 89 Main Street, Garvagh, BT51 5AB, Northern Ireland which is also the principal place of business of the company. The principal activity is the provision of architectural services. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 November 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - 10% Straight line
  Fixtures, fittings and equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was;
 
  2023 2022
  Number Number
 
Employees 4 4
  ═════════ ═════════
         
4. Tangible assets
  Short Fixtures, Total
  leasehold fittings and  
  property equipment  
  £ £ £
Cost
At 1 December 2022 15,000 27,403 42,403
Additions - 359 359
  ───────── ───────── ─────────
At 30 November 2023 15,000 27,762 42,762
  ───────── ───────── ─────────
Depreciation
At 1 December 2022 1,500 14,913 16,413
Charge for the financial year 1,500 4,253 5,753
  ───────── ───────── ─────────
At 30 November 2023 3,000 19,166 22,166
  ───────── ───────── ─────────
Net book value
At 30 November 2023 12,000 8,596 20,596
  ═════════ ═════════ ═════════
At 30 November 2022 13,500 12,490 25,990
  ═════════ ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Work in progress 70,526 34,518
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Trade debtors 24,537 28,124
Amounts owed by related parties 500 -
Other debtors - 13,000
  ───────── ─────────
  25,037 41,124
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 15,628 36,106
Bank loan 5,921 5,921
Trade creditors 2,905 2,905
Taxation 47,618 33,582
Accruals:
Pension accrual 837 262
Other accruals 1,500 1,500
  ───────── ─────────
  74,409 80,276
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 9,613 15,501
Directors' loan accounts 28,972 2,603
  ───────── ─────────
  38,585 18,104
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 21,549 42,027
Repayable between one and two years 6,023 6,707
Repayable between two and five years 3,590 8,794
  ───────── ─────────
  31,162 57,528
  ═════════ ═════════
 
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 2,373 2,373 -
Charged to profit and loss (740) (740) 2,373
  ───────── ───────── ─────────
At financial year end 1,633 1,633 2,373
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2023.
           
11. Related party transactions
 
Net balances with related parties:
      2023 2022
      £ £
 
Trading amounts (due from)/owed to related parties     (500) -
      ═════════ ═════════
 
The directors of OJQ Ltd are also directors of BLUBIM Ltd. During the year BLUBIM Ltd borrowed £500 from OJQ Ltd. At the year end BLUBIM Ltd owed OJQ Ltd £500 and this is included in the debtors section of the balance sheet.

At the start of the year the directors owed the company £2,603. During the year, the company borrowed £47,068 and repaid £20,699 to the directors leaving a closing balance of £28,972 (2022: £2,603) owed to the directors at the year end. This is included in the creditors section of the balance sheet.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.