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Registered Number: 10466288
England and Wales

 

 

 

SPEEDY QUARKS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
  2023   2022
    £ £   £ £
Fixed assets   337      656 
Current assets 3,534      3,675   
Creditors: amount falling due within one year (2,667)     (2,651)  
Net current assets   867      1,024 
Total assets less current liabilities   1,204      1,680 
Creditors: amount falling due after more than one year   (7,028)     (5,450)
Net assets   (5,824)     (3,770)
 

         
Capital and reserves   (5,824)     (3,770)
 
NOTES TO THE ACCOUNTS

General Information
SPEEDY QUARKS LTD is a private company, limited by shares, registered in England and Wales, registration number 10466288, registration address St John's Innovation Centre, Cowley Road, Cambridge, Cambridgeshire, CB4 0WS.

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.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
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 4 Straight Line
Computer Equipment 40 Reducing Balance
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 December 2022 842    1,393    2,235 
Additions    
Disposals    
At 30 November 2023 842    1,393    2,235 
Depreciation
At 01 December 2022 459    1,345    1,804 
Charge for year 210    19    229 
On disposals    
At 30 November 2023 669    1,364    2,033 
Net book values
Closing balance as at 30 November 2023 173    29    202 
Opening balance as at 01 December 2022 383    48    431 


3.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).


For the year ended 30 November 2023 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 members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 31 August 2024 and were signed by:


--------------------------------
Sohab Sarfraz
Director
1