Company registration number 14914986 (England and Wales)
QALZY LTD
(FORMERLY NUTRIOSCALE LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
QALZY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
QALZY LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
4
2,045
Current assets
Debtors
51
Cash at bank and in hand
75,167
75,218
Creditors: amounts falling due within one year
5
(82,611)
Net current liabilities
(7,393)
Total assets less current liabilities
(5,348)
Creditors: amounts falling due after more than one year
6
(43,750)
Net liabilities
(49,098)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(49,198)
Total equity
(49,098)

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Konstantinos Koukoravas
Director
Company registration number 14914986 (England and Wales)
QALZY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Qalzy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 128 City Road, London, EC1V 2NX.

1.1
Reporting period

The financial statements are from the date of incorporation of 05 June 2023 to 30 June 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
30% Straight Line

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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

QALZY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

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 considered to be 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
QALZY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 5 June 2023
-
0
Additions
2,418
At 30 June 2024
2,418
Depreciation and impairment
At 5 June 2023
-
0
Depreciation charged in the period
373
At 30 June 2024
373
Carrying amount
At 30 June 2024
2,045
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
22
Other creditors
82,589
82,611
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
43,750
7
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties:

During the period a loan was provided to the company by Michail Michelis. The loan of £43,750 is unsecured, interest free and repayable on 31 January 2026 and is therefore included in long term creditors.

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