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Company Registration No. 2984439 (England and Wales)
Querix (UK) Limited Unaudited accounts for the year ended 31 March 2024
Querix (UK) Limited Unaudited accounts Contents
Page
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Querix (UK) Limited Company Information for the year ended 31 March 2024
Directors
M M Afshar Mrs P Afshar
Company Number
2984439 (England and Wales)
Registered Office
5 St Denys Road Portswood Southampton Hampshire SO17 2GN United Kingdom
Accountants
Sharma and Company 5 St Denys Road Portswood Southampton Hampshire SO17 2GN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Querix (UK) Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Querix (UK) Limited for the year ended 31 March 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Sharma and Company Chartered Accountants 5 St Denys Road Portswood Southampton Hampshire SO17 2GN 29 April 2024
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Querix (UK) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,216 
3,081 
Current assets
Debtors
160,124 
67,086 
Cash at bank and in hand
38,360 
167,123 
198,484 
234,209 
Creditors: amounts falling due within one year
(1,052,892)
(995,394)
Net current liabilities
(854,408)
(761,185)
Total assets less current liabilities
(852,192)
(758,104)
Creditors: amounts falling due after more than one year
(1,269,666)
(1,337,676)
Net liabilities
(2,121,858)
(2,095,780)
Capital and reserves
Called up share capital
315 
222 
Share premium
78,770 
78,770 
Profit and loss account
(2,200,943)
(2,174,772)
Shareholders' funds
(2,121,858)
(2,095,780)
For the year 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by
M M Afshar Director Company Registration No. 2984439
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Querix (UK) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Querix (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 2984439. The registered office is 5 St Denys Road, Portswood, Southampton, Hampshire, SO17 2GN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% pa Reducing Balance Method
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Going concern
The company has a deficit on shareholders' funds and relies upon the support of its shareholders and creditors, that has been confirmed for a period of at least twelve months from the date of approval of the financial statements. Accordingly, the directors have prepared the financial statements on a going concern basis. The going concern basis is appropriate providing that the continual support is made available to the company by the managing directors and shareholders.
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Querix (UK) Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
85,867 
Disposals
4,867 
At 31 March 2024
90,734 
Depreciation
At 1 April 2023
82,786 
Charge for the year
865 
On disposals
4,867 
At 31 March 2024
88,518 
Net book value
At 31 March 2024
2,216 
At 31 March 2023
3,081 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
150,003 
56,965 
Other debtors
10,121 
10,121 
160,124 
67,086 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
54,352 
42,508 
Taxes and social security
16,685 
10,154 
Other creditors
4,530 
4,092 
Accruals
977,325 
938,640 
1,052,892 
995,394 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
38,020 
40,440 
Other creditors
1,231,646 
1,297,236 
1,269,666 
1,337,676 
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Querix (UK) Limited Notes to the Accounts for the year ended 31 March 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
15,040 A Ordinary shares of £0.01 each
150.40 
111.00 
16,505 B Ordinary shares of £0.01 each
165.05 
111.00 
315.45 
222.00 
Shares issued during the period:
3,940 A Ordinary shares of £0.01 each
39.40 
5,405 B Ordinary shares of £0.01 each
54.05 
93.45 
9
Transactions with related parties
The company was set up to market a computer language (QueriX 4GL) developed and owned by a director (Mr M M Afshar). The company has world wide distribution and marketing rights for the product. Royalty is payable to Mr M M Afshar on sales of QueriX 4GL licenbces calculated at the rate of 10% of sales. An accrual of £38,685 (2023 - £35,217) was made during the year. No royalty payment was made during the year, and the company owed the director £936,390 (2023 - £975,075) in respect of unpaid royalties at the end of the year. No royalty payments are likely to be made until the company returns to a profitable situation. The company paid rent of £27,800 (2023-£27,800) for the use of business premises owned by the directors Mr M Afshar and Mrs P Afshar. Research & Development The intellectual property associated with all research and development resides at all times with the company and not with any employees, director, shareholder or other third party.
10
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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