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COMPANY REGISTRATION NUMBER: 07336751
Quack Ltd
Filleted Unaudited Reports and Accounts
30 April 2024
Quack Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
1
1
Current assets
Debtors
7
15,518
102,884
Cash at bank and in hand
63,808
46,375
--------
---------
79,326
149,259
Creditors: amounts falling due within one year
8
4,799
39,237
--------
---------
Net current assets
74,527
110,022
--------
---------
Total assets less current liabilities
74,528
110,023
--------
---------
Net assets
74,528
110,023
--------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
74,527
110,022
--------
---------
Shareholders funds
74,528
110,023
--------
---------
These Reports and Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 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 members have not required the company to obtain an audit of its Reports and Accounts for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Reports and Accounts .
Quack Ltd
Statement of Financial Position (continued)
30 April 2024
These Reports and Accounts were approved by the board of directors and authorised for issue on 20 January 2025 , and are signed on behalf of the board by:
Mr G Boden
Director
Company registration number: 07336751
Quack Ltd
Notes to the Reports and Accounts
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Earlsfield Business Centre, 9 Lydden Road, London, SW18 4LT.
2. Statement of compliance
These Reports and Accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The Reports and Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Reports and Accounts are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Corporation tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over its estimated economic life of 5 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
Over 4 years
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
10,000
--------
Amortisation
At 1 May 2023 and 30 April 2024
9,999
--------
Carrying amount
At 30 April 2024
1
--------
At 30 April 2023
1
--------
6. Tangible assets
Equipment
£
Cost
At 1 May 2023 and 30 April 2024
1,238
-------
Depreciation
At 1 May 2023 and 30 April 2024
1,238
-------
Carrying amount
At 30 April 2024
-------
At 30 April 2023
-------
7. Debtors
2024
2023
£
£
Trade debtors
5,520
92,915
Other debtors
9,998
9,969
--------
---------
15,518
102,884
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
195
231
Corporation tax
2,712
21,596
Social security and other taxes
292
15,060
Other creditors
1,600
2,350
-------
--------
4,799
39,237
-------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr G Boden
9,998
9,969
-------
-------
10. Controlling interest
The company is controlled by Mr G Boden by virtue of his directorship and 100% shareholding.