Registered number
07282266
QQM Ltd
Unaudited Filleted Accounts
31 October 2024
QQM Ltd
Registered number: 07282266
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,674 3,632
Current assets
Debtors 4 9,000 9,000
Cash at bank and in hand 31,696 29,745
40,696 38,745
Creditors: amounts falling due within one year 5 (17,764) (20,198)
Net current assets 22,932 18,547
Net assets 25,606 22,179
Capital and reserves
Called up share capital 2 2
Profit and loss account 25,604 22,177
Shareholder's funds 25,606 22,179
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.
Marc Dominique Pinner
Director
Approved by the board on 22 November 2024
QQM Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less cumulative depreciation and any cumulative 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:
Fixtures, fittings, tools and equipment 33% reducing balance basis
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.
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 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 7,785
Additions 359
At 31 October 2024 8,144
Depreciation
At 1 November 2023 4,153
Charge for the year 1,317
At 31 October 2024 5,470
Net book value
At 31 October 2024 2,674
At 31 October 2023 3,632
4 Debtors 2024 2023
£ £
Trade debtors 9,000 9,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 12,677 9,737
Other taxes and social security costs (196) (363)
Other creditors 5,283 10,824
17,764 20,198
6 Other information
QQM Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
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