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Company No: 03962078 (England and Wales)

QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 05 April 2024
QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 05 April 2024
Note 05.04.2024 05.04.2023
£ £
Fixed assets
Investments 3 814,066 841,929
814,066 841,929
Current assets
Investments 4 0 30,826
Cash at bank and in hand 97,508 40,178
97,508 71,004
Creditors: amounts falling due within one year 5 ( 61,472) ( 3,200)
Net current assets 36,036 67,804
Total assets less current liabilities 850,102 909,733
Net assets 850,102 909,733
Capital and reserves
Called-up share capital 6 3,040 3,040
Capital redemption reserve 160 160
Profit and loss account 846,902 906,533
Total shareholders' funds 850,102 909,733

For the financial year ending 05 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Quality E-Business (QEB) Solutions Limited (registered number: 03962078) were approved and authorised for issue by the Director on 01 January 2025. They were signed on its behalf by:

P W Morgan
Director
QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
QUALITY E-BUSINESS (QEB) SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Quality E-Business (QEB) Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wolferton House Priory Lane, Stretton Sugwas, Hereford, HR4 7AR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Year ended
05.04.2024
Period from
01.04.2022 to
05.04.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 06 April 2023 841,929 841,929
Additions 302,115 302,115
Disposals ( 372,271) ( 372,271)
Movement in fair value 42,293 42,293
At 05 April 2024 814,066 814,066
Carrying value at 05 April 2024 814,066 814,066
Carrying value at 05 April 2023 841,929 841,929

4. Current asset investments

05.04.2024 05.04.2023
£ £
Other investments – at cost less impairment 5,826 30,826

5. Creditors: amounts falling due within one year

05.04.2024 05.04.2023
£ £
Amounts owed to director 30,953 1,496
Accruals 2,976 1,704
Other creditors 27,543 0
61,472 3,200

6. Called-up share capital

05.04.2024 05.04.2023
£ £
Allotted, called-up and fully-paid
1,550 A Ordinary shares of £ 1.00 each 1,550 1,550
1,490 B Ordinary shares of £ 1.00 each 1,490 1,490
3,040 3,040

7. Related party transactions

Transactions with the entity's director

05.04.2024 05.04.2023
£ £
Amounts owed to the director 30,953 1,496

This loan is interest free and is repayable on demand. During the year, dividends were paid to the director totalling £49,457.