Qure Limited 04457896 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Medical Digita Accounts Production Advanced 6.30.9574.0 true true 04457896 2023-04-01 2024-03-31 04457896 2024-03-31 04457896 bus:Director2 1 2024-03-31 04457896 core:CurrentFinancialInstruments 2024-03-31 04457896 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04457896 core:FurnitureFittingsToolsEquipment 2024-03-31 04457896 bus:SmallEntities 2023-04-01 2024-03-31 04457896 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04457896 bus:FullAccounts 2023-04-01 2024-03-31 04457896 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04457896 bus:RegisteredOffice 2023-04-01 2024-03-31 04457896 bus:CompanySecretary1 2023-04-01 2024-03-31 04457896 bus:Director1 2023-04-01 2024-03-31 04457896 bus:Director2 2023-04-01 2024-03-31 04457896 bus:Director2 1 2023-04-01 2024-03-31 04457896 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04457896 core:FurnitureFittings 2023-04-01 2024-03-31 04457896 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04457896 core:OfficeEquipment 2023-04-01 2024-03-31 04457896 core:PlantMachinery 2023-04-01 2024-03-31 04457896 1 2023-04-01 2024-03-31 04457896 countries:AllCountries 2023-04-01 2024-03-31 04457896 2023-03-31 04457896 bus:Director2 1 2023-03-31 04457896 core:FurnitureFittingsToolsEquipment 2023-03-31 04457896 2022-04-01 2023-03-31 04457896 2023-03-31 04457896 core:CurrentFinancialInstruments 2023-03-31 04457896 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04457896 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04457896

Qure Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Qure Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Qure Limited

Company Information

Directors

P A Charlson

P B Charlson

Company secretary

J A Thorpe

Registered office

24 Westfield Park
Brough
East Yorkshire
HU15 1AN

 

Qure Limited

(Registration number: 04457896)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,505

31,267

Current assets

 

Stocks

5

13,266

11,821

Debtors

6

64,021

1,957

Cash at bank and in hand

 

473,423

407,533

 

550,710

421,311

Creditors: Amounts falling due within one year

7

(44,592)

(38,168)

Net current assets

 

506,118

383,143

Total assets less current liabilities

 

533,623

414,410

Provisions for liabilities

(6,876)

(7,817)

Net assets

 

526,747

406,593

Capital and reserves

 

Called up share capital

1

1

Retained earnings

526,746

406,592

Shareholders' funds

 

526,747

406,593

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................
P A Charlson
Director

 

Qure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 04457896.

The address of its registered office is:
24 Westfield Park
Brough
East Yorkshire
HU15 1AN

These financial statements were authorised for issue by the Board on 16 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to prepare accounts for a small group.

Revenue recognition

Turnover arises from the provision of dermatological services and sale of cosmetic products. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the rendering of services in the normal course of business, net of discounts and other sales-related taxes.

Turnover from the provision of services is recognised when the service is performed.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Qure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measure using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on cost and 15% reducing balance

Fixtures and fittings

15% on cost and 15% reducing balance

Office equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Qure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

179,801

179,801

Additions

6,782

6,782

Disposals

(41,059)

(41,059)

At 31 March 2024

145,524

145,524

Depreciation

At 1 April 2023

148,534

148,534

Charge for the year

10,544

10,544

Eliminated on disposal

(41,059)

(41,059)

At 31 March 2024

118,019

118,019

Carrying amount

At 31 March 2024

27,505

27,505

At 31 March 2023

31,267

31,267

 

Qure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Other inventories

13,266

11,821

6

Debtors

Note

2024
£

2023
£

Amounts owed by Company undertakings and undertakings in which the Company has a participating interest

9

56,500

-

Prepayments

 

887

876

Other debtors

 

6,634

1,081

 

64,021

1,957

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

95

Taxation and social security

 

40,994

33,656

Accruals and deferred income

 

2,416

2,417

Other creditors

 

1,182

2,000

 

44,592

38,168

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

95

Other borrowings include unsecured amounts due to directors.

9

Related party transactions

Transactions with Directors

2024

At 1 April 2023
£

Advances to Director
£

Repayments by Director
£

At 31 March 2024
£

P B Charlson

Unsecured, interest free loan, repayable on demand

(95)

15,977

(10,329)

5,553

         
       

 

Other transactions with Directors

 

Qure Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

At the year end the directors owed the company £5,553 (2023: The company owed the directors £95). Loans made to the company by the directors are unsecured, interest free and repayable on demand.

Summary of transactions with parent

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with it's parent entity.

Summary of transactions with other related parties

PBC Medical Limited (a company under common control of the shareholders)

At the year end, the amount due from PBC Medical Limited was £1,801 (2023: £1,081). The amount is unsecured, interest-free and repayable on demand.

10

Parent and ultimate parent undertaking

The Company's immediate parent is Charthorpe Investments Limited, incorporated in England & Wales.

  These financial statements are available upon request from Kingfisher Court Plaxton Bridge Road, Woodmansey, Beverley, East Yorkshire, United Kingdom, HU17 0RT