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Registered Number: 07919627
England and Wales

 

 

 

Q LASER LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 993,590    981,838 
993,590    981,838 
Current assets      
Stocks 4 197,439    182,171 
Debtors 5 478,000    405,614 
Cash at bank and in hand 306,543    595,800 
981,982    1,183,585 
Creditors: amount falling due within one year 6 (723,298)   (764,113)
Net current assets 258,684    419,472 
 
Total assets less current liabilities 1,252,274    1,401,310 
Creditors: amount falling due after more than one year 7 (383,718)   (498,683)
Provisions for liabilities 8 (180,669)   (175,847)
Net assets 687,887    726,780 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 687,886    726,779 
Shareholders' funds 687,887    726,780 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 17 October 2024 and were signed by:


-------------------------------
Colin Hewitt
Director
1
General Information
Q Laser Ltd is a private company, limited by shares, registered in England and Wales, registration number 07919627, registration address Unit 11, Bentall Business Park, Washington, Tyne and Wear , NE37 3JD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and then historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 25% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 37 (2023 : 22).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 February 2023 1,207,225    128,248    274,342    1,609,815 
Additions 194,830      20,747    215,577 
Disposals   (24,000)     (24,000)
At 31 January 2024 1,402,055    104,248    295,089    1,801,392 
Depreciation
At 01 February 2023 437,655    65,612    124,710    627,977 
Charge for year 137,230    26,052    40,543    203,825 
On disposals   (24,000)     (24,000)
At 31 January 2024 574,885    67,664    165,253    807,802 
Net book values
Closing balance as at 31 January 2024 827,170    36,584    129,836    993,590 
Opening balance as at 01 February 2023 769,570    62,636    149,632    981,838 


4.

Stocks

2024
£
  2023
£
Work in Progress 197,439    182,171 
197,439    182,171 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 434,409    354,850 
Prepayments & Accrued Income 22,040    28,878 
Other Debtors 19,951    20,286 
Other Misc Debtors 1,600    1,600 
478,000    405,614 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 423,250    477,738 
Corporation Tax 7,951    8,618 
PAYE & Social Security 13,194    17,137 
Pension Control Account 1,871    1,937 
Accrued Expenses 61,008    22,771 
Other Creditors 666    666 
Obligations under HP/Financial Leases 157,779    201,305 
Wages & Salaries Control Account 5,346    4,340 
Directors' Current Accounts 711    477 
VAT 51,522    29,124 
723,298    764,113 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 23,333    33,333 
Obligations Under HP/Financial Leases 360,385    465,350 
383,718    498,683 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 177,452    172,630 
Charged to Profit & Loss 3,217    3,217 
180,669    175,847 

9.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £711 (2023 - £477).
10.

Disclosure of controlling party

For the whole of the period under review the company was under the control of Colin Hewitt, director of the company.

2