Silverfin false 31/12/2023 01/01/2023 31/12/2023 J M Doherty 31/12/1997 A C Doherty 06/10/2020 24 September 2024 The principal activity of the Company during the financial year was the provision of specialist IT consultancy services. 03481304 2023-12-31 03481304 bus:Director1 2023-12-31 03481304 bus:Director2 2023-12-31 03481304 2022-12-31 03481304 core:CurrentFinancialInstruments 2023-12-31 03481304 core:CurrentFinancialInstruments 2022-12-31 03481304 core:Non-currentFinancialInstruments 2023-12-31 03481304 core:Non-currentFinancialInstruments 2022-12-31 03481304 core:ShareCapital 2023-12-31 03481304 core:ShareCapital 2022-12-31 03481304 core:RetainedEarningsAccumulatedLosses 2023-12-31 03481304 core:RetainedEarningsAccumulatedLosses 2022-12-31 03481304 core:OfficeEquipment 2022-12-31 03481304 core:OfficeEquipment 2023-12-31 03481304 bus:OrdinaryShareClass1 2023-12-31 03481304 bus:OrdinaryShareClass2 2023-12-31 03481304 2023-01-01 2023-12-31 03481304 bus:FullAccounts 2023-01-01 2023-12-31 03481304 bus:SmallEntities 2023-01-01 2023-12-31 03481304 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03481304 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03481304 bus:Director1 2023-01-01 2023-12-31 03481304 bus:Director2 2023-01-01 2023-12-31 03481304 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 03481304 2022-01-01 2022-12-31 03481304 core:OfficeEquipment 2023-01-01 2023-12-31 03481304 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 03481304 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 03481304 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 03481304 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03481304 (England and Wales)

DATA Q SOLUTIONS LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

DATA Q SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

DATA Q SOLUTIONS LTD

BALANCE SHEET

As at 31 December 2023
DATA Q SOLUTIONS LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,321 1,500
1,321 1,500
Current assets
Debtors 4 217,424 194,634
Cash at bank and in hand 314,245 250,700
531,669 445,334
Creditors: amounts falling due within one year 5 ( 171,528) ( 174,034)
Net current assets 360,141 271,300
Total assets less current liabilities 361,462 272,800
Creditors: amounts falling due after more than one year 0 ( 14,946)
Net assets 361,462 257,854
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 361,362 257,754
Total shareholders' funds 361,462 257,854

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Data Q Solutions Ltd (registered number: 03481304) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

J M Doherty
Director
DATA Q SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
DATA Q SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Data Q Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 55 The Lane, Alwoodley, Leeds, LS17 7BX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Change in accounting policies

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from FRS105 to FRS102 as at 1 January 2023. There is no material impact on the reported financial position and financial performance. There are no material departures from FRS102.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 January 2023 7,846 7,846
Additions 916 916
At 31 December 2023 8,762 8,762
Accumulated depreciation
At 01 January 2023 6,346 6,346
Charge for the financial year 1,095 1,095
At 31 December 2023 7,441 7,441
Net book value
At 31 December 2023 1,321 1,321
At 31 December 2022 1,500 1,500

4. Debtors

2023 2022
£ £
Trade debtors 160,483 153,376
Other debtors 56,941 41,258
217,424 194,634

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 28,420 60,273
Trade creditors 59,177 41,811
Amounts owed to directors 9,977 12,610
Accruals 1,500 1,920
Corporation tax 72,454 57,420
171,528 174,034

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
95 Ordinary shares of £ 1.00 each 95 95
5 Ordinary A shares of £ 1.00 each 5 5
100 100

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Directors' loan account (9,977) (12,610)

During the financial period, advances of £154,352 were made to the directors. The directors made repayments of £151,719. At the end of the financial period, the Company owed £9,977 to the directors in respect to the Directors' loan account. This amount is disclosed in the Balance Sheet under Creditors.