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REGISTERED NUMBER: 11943833 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

QH CONSULTING LIMITED

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QH CONSULTING LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Dr A A Farooq





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 11943833 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 35,000 40,000
Property, plant and equipment 5 102,397 65,336
137,397 105,336

CURRENT ASSETS
Inventories 3,000 3,000
Debtors 6 253,293 212,691
Cash at bank 17,103 43,955
273,396 259,646
CREDITORS
Amounts falling due within one year 7 239,343 276,496
NET CURRENT ASSETS/(LIABILITIES) 34,053 (16,850 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,450

88,486

CREDITORS
Amounts falling due after more than one year 8 77,150 94,926
NET ASSETS/(LIABILITIES) 94,300 (6,440 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 94,200 (6,540 )
94,300 (6,440 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Balance Sheet - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2024 and were signed by:





Dr A A Farooq - Director


QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

QH Consulting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue is recognised when services are rendered to the customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:


Leasehold improvements25 years straight line
Plant and machinery25% reducing balance
Fixtures and fittings25% reducing balance
Office equipment25% reducing balance
Computer equipment25% reducing balance


Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Government grants
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023 10,000
Charge for year 5,000
At 31 March 2024 15,000
NET BOOK VALUE
At 31 March 2024 35,000
At 31 March 2023 40,000

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Leasehold Plant and and Computer
improvements machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 9,493 56,544 12,289 15,921 94,247
Additions 41,649 7,976 5,120 2,382 57,127
At 31 March 2024 51,142 64,520 17,409 18,303 151,374
DEPRECIATION
At 1 April 2023 759 18,256 4,491 5,405 28,911
Charge for year 2,046 11,566 3,230 3,224 20,066
At 31 March 2024 2,805 29,822 7,721 8,629 48,977
NET BOOK VALUE
At 31 March 2024 48,337 34,698 9,688 9,674 102,397
At 31 March 2023 8,734 38,288 7,798 10,516 65,336

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 4,455
Other debtors 253,293 208,236
253,293 212,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,712 31,363
Trade creditors 146,372 138,110
Taxation and social security 20,704 7,796
Other creditors 66,555 99,227
239,343 276,496

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 77,150 94,926

QH CONSULTING LIMITED (REGISTERED NUMBER: 11943833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Dr A A Farooq
Balance outstanding at start of year (24 ) (11,082 )
Amounts advanced 23,361 36,795
Amounts repaid (23,348 ) (25,737 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11 ) (24 )

Interest in charged amount of £45.92 on the overdrawn balance of director's loan account at the rate of 2.25% p.a..

10. RELATED PARTY DISCLOSURES

Included in debtors, amount falling due within one year, is an amount of £237,451 (2023: £219,747) due from a connected company. The loan is interest free and repayable on demand.

Included in creditors, amount falling due within one year, is an amount of £11 (2023: £24 ) due to the director of the company. Interest of 2.25% charged on the overdrawn balance.