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REGISTERED NUMBER: SC366265 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LUNAR QMG LIMITED

LUNAR QMG LIMITED (REGISTERED NUMBER: SC366265)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


LUNAR QMG LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr J Buchan
Mr A Buchan
Mr J G Buchan
Mr S W Banks
Miss J Buchan
Mr R Stevenson
Mr A J Buchan
Mr W C Buchan





REGISTERED OFFICE: East Quay
The Harbour
Peterhead
Aberdeenshire
AB42 1JF





REGISTERED NUMBER: SC366265 (Scotland)





AUDITORS: Bain Henry Reid
Statutory Auditors
Chartered Accountants
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

LUNAR QMG LIMITED (REGISTERED NUMBER: SC366265)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,180 6,620

CURRENT ASSETS
Debtors 5 872,636 1,093
Cash at bank 4,799 825,117
877,435 826,210
CREDITORS
Amounts falling due within one year 6 38,321 60,153
NET CURRENT ASSETS 839,114 766,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

893,294

772,677

PROVISIONS FOR LIABILITIES 13,545 845
NET ASSETS 879,749 771,832

RESERVES
Retained earnings 879,749 771,832
879,749 771,832

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 19 September 2024 and were signed on its behalf by:





Mr A Buchan - Director


LUNAR QMG LIMITED (REGISTERED NUMBER: SC366265)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Lunar QMG Limited is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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 levies receivable from members.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - over 5 years straight line basis
Computer equipment - over 5 years straight line basis

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.

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.

Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

LUNAR QMG LIMITED (REGISTERED NUMBER: SC366265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 33,059 1,869 34,928
Additions 56,072 - 56,072
Disposals (33,059 ) - (33,059 )
At 31 December 2023 56,072 1,869 57,941
DEPRECIATION
At 1 January 2023 26,439 1,869 28,308
Charge for year 7,412 - 7,412
Eliminated on disposal (31,959 ) - (31,959 )
At 31 December 2023 1,892 1,869 3,761
NET BOOK VALUE
At 31 December 2023 54,180 - 54,180
At 31 December 2022 6,620 - 6,620

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,093
Amounts owed by group undertakings 872,636 -
872,636 1,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 409 30,761
Taxation and social security 36,078 28,042
Other creditors 1,834 1,350
38,321 60,153

Included in other creditors is a directors loan balance of £334 (2022 : £nil)

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Iain Arthur FCCA (Senior Statutory Auditor)
for and on behalf of Bain Henry Reid

LUNAR QMG LIMITED (REGISTERED NUMBER: SC366265)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Miss J Buchan
Balance outstanding at start of year - -
Amounts advanced 334 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 334 -

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.