Registered number
09590704
Querky Leases Ltd
Filleted Accounts
31 May 2024
Querky Leases Ltd
Registered number: 09590704
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,402 2,502
Current assets
Debtors 4 - 15,139
Cash at bank and in hand 13,055 27,928
13,055 43,067
Creditors: amounts falling due within one year 5 (114,301) (103,355)
Net current liabilities (101,246) (60,288)
Net liabilities (97,844) (57,786)
Capital and reserves
Called up share capital 100 100
Profit and loss account (97,944) (57,886)
Shareholders' funds (97,844) (57,786)
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.
Stewart Morgan
Director
Approved by the board on 8 January 2025
Querky Leases Ltd
Notes to the Accounts
for the year ended 31 May 2024
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:
Fixtures, fittings, tools and equipment 20% Reducing Balance
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 2024 2023
Number Number
Average number of persons employed by the company 9 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 3,658
Additions 1,751
At 31 May 2024 5,409
Depreciation
At 1 June 2023 1,156
Charge for the year 851
At 31 May 2024 2,007
Net book value
At 31 May 2024 3,402
At 31 May 2023 2,502
4 Debtors 2024 2023
£ £
Other debtors - 15,139
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 23,928 32,088
Trade creditors 7,349 6,840
Taxation and social security costs 10,417 3,580
Other creditors 72,607 60,847
114,301 103,355
6 Other information
Querky Leases Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit C11
Tweedale Industrial Estate
Madeley
Telford
TF7 4JR
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