Registered number
03227559
QUO IMUS LIMITED
Unaudited Filleted Accounts
31 March 2024
QUO IMUS LIMITED
Registered number: 03227559
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 45 186
Investments 4 2 2
47 188
Current assets
Debtors 5 469,889 398,801
Cash at bank and in hand 760,963 762,522
1,230,852 1,161,323
Creditors: amounts falling due within one year 6 (384,980) (324,047)
Net current assets 845,872 837,276
Net assets 845,919 837,464
Capital and reserves
Called up share capital 100 100
Capital redemption reserve 7 100 100
Profit and loss account 845,719 837,264
Shareholder's funds 845,919 837,464
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs N Croft
Director
Approved by the board on 18 October 2024
QUO IMUS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at cost less any accumulated impairment losses as the fair value cannot be measured reliably.
Group accounts
The company and its subsidary Qi Resourcing Limited form a small size group which does not require consolidation under Companies Act 2006.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Operating lease commitments
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Equipment Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 5,013 86,495 91,508
At 31 March 2024 5,013 86,495 91,508
Depreciation
At 1 April 2023 5,005 86,317 91,322
Charge for the year - 141 141
At 31 March 2024 5,005 86,458 91,463
Net book value
At 31 March 2024 8 37 45
At 31 March 2023 8 178 186
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 2
At 31 March 2024 2
5 Debtors 2024 2023
£ £
Trade debtors 394,186 324,146
Other debtors 75,703 74,655
469,889 398,801
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 246,763 170,730
Taxation and social security costs 57,758 51,592
Other creditors 80,459 101,725
384,980 324,047
7 Capital redemption reserve 2024 2023
£ £
At 1 April 2023 100 100
At 31 March 2024 100 100
8 Other information
QUO IMUS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
6A Dickensons Place
London
SE25 5HL
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