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Registered number: 13767861
QBINC Ltd
Financial Statements
For the Period 1 December 2022 to 31 March 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Contents
Page
Company Information 1
Accountants' Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—6
Page 1
Company Information
Directors Mr Andrew Hartopp
Mrs Jemma Hartopp
Company Number 13767861
Registered Office CKR House
70 East Hill
Dartford
Kent
DA1 1RZ
Accountants C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 1
Page 2
Accountants' Report
Report to the directors on the preparation of the unaudited statutory accounts of QBINC Ltd for the period 1 December 2022 to 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of QBINC Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of QBINC Ltd , as a body, in accordance with the terms of our engagement letter dated 26 November 2021. Our work has been undertaken solely to prepare for your approval the accounts of QBINC Ltd and state those matters that we have agreed to state to the directors of QBINC Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than QBINC Ltd and its directors as a body for our work or for this report.
It is your duty to ensure that QBINC Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of QBINC Ltd . You consider that QBINC Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of QBINC Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
27 August 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 2
Page 3
Balance Sheet
Registered number: 13767861
31 March 2024 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 821
- 821
CURRENT ASSETS
Cash at bank and in hand 25,206 33,386
25,206 33,386
Creditors: Amounts Falling Due Within One Year 5 (7,633 ) (11,751 )
NET CURRENT ASSETS (LIABILITIES) 17,573 21,635
TOTAL ASSETS LESS CURRENT LIABILITIES 17,573 22,456
NET ASSETS 17,573 22,456
CAPITAL AND RESERVES
Called up share capital 6 200 200
Profit and Loss Account 17,373 22,256
SHAREHOLDERS' FUNDS 17,573 22,456
Page 3
Page 4
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Hartopp
Director
27 August 2024
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
QBINC Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13767861 . The registered office is CKR House, 70 East Hill, Dartford, Kent, DA1 1RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% reducing balance basis
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2022: NIL)
- -
Page 5
Page 6
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 December 2022 1,094
Disposals (1,094 )
As at 31 March 2024 -
Depreciation
As at 1 December 2022 273
Disposals (273 )
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 -
As at 1 December 2022 821
5. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 November 2022
£ £
Corporation tax 5,778 8,861
Accruals and deferred income 120 120
Directors' loan accounts 1,735 2,770
7,633 11,751
6. Share Capital
31 March 2024 30 November 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
200 200
7. Dividends
31 March 2024 30 November 2022
£ £
On equity shares:
Interim dividend paid 15,517 16,242
Final dividend paid 14,000 -
29,517 16,242
Page 6