Registered number
10483065
QALINES LTD
Filleted Accounts
30 November 2023
QALINES LTD
Registered number: 10483065
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,261 2,037
Current assets
Debtors 4 10,340 10,624
Cash at bank and in hand 257,186 287,536
267,526 298,160
Creditors: amounts falling due within one year 5 (23,127) (24,440)
Net current assets 244,399 273,720
Net assets 247,660 275,757
Capital and reserves
Called up share capital 100 100
Profit and loss account 247,560 275,657
Shareholders' funds 247,660 275,757
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Jaspreet Walia
Director
Approved by the board on 29 November 2024
QALINES LTD
Notes to the Accounts
for the year ended 30 November 2023
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 5,727
Additions 2,039
At 30 November 2023 7,766
Depreciation
At 1 December 2022 3,690
Charge for the year 815
At 30 November 2023 4,505
Net book value
At 30 November 2023 3,261
At 30 November 2022 2,037
4 Debtors 2023 2022
£ £
Trade debtors 10,340 10,624
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 22,913 23,608
Other creditors 214 832
23,127 24,440
6 Other information
QALINES LTD is a private company limited by shares and incorporated in England. Its registered office is:
7 Althorpe Road
Harrow
Middlesex
United Kingdom
HA1 4RA
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