Company Registration No. 10047520 (England and Wales)
QUAH & ASSOCIATES CONSULTING SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
QUAH & ASSOCIATES CONSULTING SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
QUAH & ASSOCIATES CONSULTING SERVICES LTD
Company Registration No. 10047520
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
74
72
Cash at bank and in hand
36,297
79,141
36,371
79,213
Creditors: amounts falling due within one year
5
(5,022)
(4,767)
Net current assets
31,349
74,446
Capital and reserves
Called up share capital
6
10
10
Profit and loss reserves
31,339
74,436
Total equity
31,349
74,446
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 October 2024 and are signed on its behalf by:
Eddy Quah
Director
QUAH & ASSOCIATES CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Quah & Associates Consulting Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 50 Scott Farm Close, Thames Ditton, KT7 0AN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Going concern
At the time of approving the financial statements and in consideration of the recent events, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In reaching this conclusion, the Directors have considered the working capital position, the strong financial position and the current and expected trading results of the Company. The Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
1.4
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
QUAH & ASSOCIATES CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
1,926
Depreciation and impairment
At 1 April 2023 and 31 March 2024
1,926
Carrying amount
At 31 March 2024
At 31 March 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
74
72
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
5,022
4,767
5,022
4,767
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
QUAH & ASSOCIATES CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
7
Directors' transactions
Dividends totalling £25,000 (2023 - £15,000) were paid in the year in respect of shares held by the company's directors.
At the balance sheet date, the company owes the directors £4,522 (2023 - £4,522). £4,422 is owed to E Quah, and £100 is owed to K C Yong. This loan is interest free and repayable on demand.