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Quite Possibly Limited

Financial Statements for the Year Ended 30 April 2024






Quite Possibly Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: P D Nixon





REGISTERED OFFICE: 64 Oaklands Avenue
Bridgend
CF31 4ST





REGISTERED NUMBER: 08497077 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Quite Possibly Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quite Possibly Limited for the year ended 30 April 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Quite Possibly Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Quite Possibly Limited and state those matters that we have agreed to state to the director of Quite Possibly Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quite Possibly Limited and its director for our work or for this report.

It is your duty to ensure that Quite Possibly Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Quite Possibly Limited. You consider that Quite Possibly Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Quite Possibly Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


29 January 2025

Quite Possibly Limited (Registered number: 08497077)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 - 1

CURRENT ASSETS
Debtors 4 270 235
Cash at bank 55,245 33,350
55,515 33,585
CREDITORS
Amounts falling due within one year 5 25,381 14,919
NET CURRENT ASSETS 30,134 18,666
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,134

18,667

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 30,133 18,666
30,134 18,667

Quite Possibly Limited (Registered number: 08497077)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





P D Nixon - Director


Quite Possibly Limited (Registered number: 08497077)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Quite Possibly Limited (Registered number: 08497077)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


3. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 May 2023
and 30 April 2024 2,607
DEPRECIATION
At 1 May 2023 2,606
Charge for year 1
At 30 April 2024 2,607
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 1

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors & prepayments 270 235

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxes & social security costs 21,622 11,642
Other creditors & accruals 3,759 3,277
25,381 14,919