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Registration number: 05942127

Que (UK) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Que (UK) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Que (UK) Ltd

Company Information

Director

Mr M Quinn

Company secretary

Mrs S J Quinn

Registered office

Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Que (UK) Ltd

(Registration number: 05942127)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,645

2,974

Current assets

 

Debtors

5

44,712

11,710

Cash at bank and in hand

 

44,971

94,171

 

89,683

105,881

Creditors: Amounts falling due within one year

6

(22,630)

(30,188)

Net current assets

 

67,053

75,693

Total assets less current liabilities

 

98,698

78,667

Creditors: Amounts falling due after more than one year

6

(34,791)

(18,397)

Provisions for liabilities

(6,013)

(572)

Net assets

 

57,894

59,698

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

56,894

58,698

Shareholders' funds

 

57,894

59,698

For the financial year ending 31 January 2024 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; and

The director acknowledges 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Que (UK) Ltd

(Registration number: 05942127)
Balance Sheet as at 31 January 2024 (continued)

Approved and authorised by the director on 14 October 2024
 

.........................................
Mr M Quinn
Director

 

Que (UK) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

These financial statements were authorised for issue by the director on 14 October 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 for each of the company's 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.

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Motor Vehicles

25% Reducing Balance

Fixtures and Fittings

33% Straight Line

Leases

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

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.

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

18,749

1,035

19,784

Additions

-

34,534

34,534

At 31 January 2024

18,749

35,569

54,318

Depreciation

At 1 February 2023

15,775

1,035

16,810

Charge for the year

1,546

4,317

5,863

At 31 January 2024

17,321

5,352

22,673

Carrying amount

At 31 January 2024

1,428

30,217

31,645

At 31 January 2023

2,974

-

2,974

5

Debtors

Current

2024
£

2023
£

Trade debtors

42,480

10,800

Prepayments

732

410

Other debtors

1,500

500

 

44,712

11,710

6

Creditors

Creditors: amounts falling due within one year

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors (continued)

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

12,873

6,389

Taxation and social security

 

9,508

22,315

Accruals and deferred income

 

-

1,451

Other creditors

 

249

33

 

22,630

30,188

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

34,791

18,397

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,563

18,397

Hire purchase contracts

22,228

-

34,791

18,397

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,389

6,389

Bank overdrafts

136

-

Hire purchase contracts

6,348

-

12,873

6,389

9

Obligations under leases and hire purchase contracts

Finance leases

 

Que (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

9

Obligations under leases and hire purchase contracts (continued)

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,348

-

Later than one year and not later than five years

22,228

-

28,576

-

10

Dividends

2024

2023

£

£

Interim dividend of £42.10 (2023 - £57.35) per ordinary share

42,100

57,347

 

 

11

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr M Quinn

The loan is interest free and repayable on demand.

33

(7,577)

7,793

249

Loan to Mrs S Quinn

Other debtor reflects closing balance of £1,500.00 which is a loan to Mrs S Quinn.