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Registered number: 11500895
QRS SERVICES LTD
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 August 2024
South
Contents
Page
Company Information 1
Directors' Report 2—3
Accountants' Report 4
Profit and Loss Account 5
Balance Sheet 6—7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors Mr Qalb Raza Syed
Mr Qalb Raza Syed
Company Number 11500895
Registered Office 58 Shuttleworth Lane
Bradford
BD8 0JR
Accountants South
133 West Hendon Broadway
London
NW9 7DY
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Directors' Report
The directors present their report and the financial statements for the year ended 31 August 2024.
Directors
The directors who held office during the year were as follows:
Mr Qalb Raza Syed
Mr Qalb Raza Syed
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Qalb Raza Syed
Director
20/09/2024
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Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of QRS SERVICES LTD for the year ended 31 August 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of QRS SERVICES LTD which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of QRS SERVICES LTD , as a body, in accordance with the terms of our engagement letter dated 03 February 2021. Our work has been undertaken solely to prepare for your approval the accounts of QRS SERVICES LTD and state those matters that we have agreed to state to the directors of QRS SERVICES LTD , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than QRS SERVICES LTD and its directors as a body for our work or for this report.
It is your duty to ensure that QRS SERVICES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of QRS SERVICES LTD . You consider that QRS SERVICES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of QRS SERVICES LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
AQ Accountants Limited
20/09/2024
South
133 West Hendon Broadway
London
NW9 7DY
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Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 154,241 45,414
Cost of sales (111,141 ) (21,723 )
GROSS PROFIT 43,100 23,691
Administrative expenses (44,726 ) (25,254 )
OPERATING LOSS (1,626 ) (1,563 )
Interest payable and similar charges (274 ) (251 )
LOSS FOR THE FINANCIAL YEAR (1,900 ) (1,814 )
The notes on pages 8 to 10 form part of these financial statements.
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Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,118 24,567
24,118 24,567
CURRENT ASSETS
Debtors 5 336 336
Cash at bank and in hand 127 447
463 783
Creditors: Amounts Falling Due Within One Year 6 (24,711 ) (13,825 )
NET CURRENT ASSETS (LIABILITIES) (24,248 ) (13,042 )
TOTAL ASSETS LESS CURRENT LIABILITIES (130 ) 11,525
Creditors: Amounts Falling Due After More Than One Year 7 (5,829 ) (15,584 )
NET LIABILITIES (5,959 ) (4,059 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (6,059 ) (4,159 )
SHAREHOLDERS' FUNDS (5,959) (4,059)
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Qalb Raza Syed
Director
20/09/2024
The notes on pages 8 to 10 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
QRS SERVICES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11500895 . The registered office is 58 Shuttleworth Lane, Bradford, BD8 0JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15%
Motor Vehicles 6%
Fixtures & Fittings 18%
Computer Equipment 15%
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 4,000 17,990 2,653 3,451 28,094
Additions 424 - - 1,652 2,076
As at 31 August 2024 4,424 17,990 2,653 5,103 30,170
Depreciation
As at 1 September 2023 600 1,079 982 866 3,527
Provided during the period 574 1,015 301 635 2,525
As at 31 August 2024 1,174 2,094 1,283 1,501 6,052
Net Book Value
As at 31 August 2024 3,250 15,896 1,370 3,602 24,118
As at 1 September 2023 3,400 16,911 1,671 2,585 24,567
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 336 336
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 2,798 2,798
Bank loans and overdrafts 6,208 -
Other creditors 14,859 11,027
Taxation and social security 846 -
24,711 13,825
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,829 8,627
Bank loans - 6,957
5,829 15,584
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,798 2,798
Later than one year and not later than five years 5,829 8,627
8,627 11,425
8,627 11,425
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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