Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31false2023-06-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11351824 2023-06-01 2024-10-31 11351824 2022-06-01 2023-05-31 11351824 2024-10-31 11351824 2023-05-31 11351824 c:Director1 2023-06-01 2024-10-31 11351824 d:CurrentFinancialInstruments 2024-10-31 11351824 d:CurrentFinancialInstruments 2023-05-31 11351824 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 11351824 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11351824 d:ShareCapital 2024-10-31 11351824 d:ShareCapital 2023-05-31 11351824 d:RetainedEarningsAccumulatedLosses 2024-10-31 11351824 d:RetainedEarningsAccumulatedLosses 2023-05-31 11351824 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-10-31 11351824 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 11351824 c:FRS102 2023-06-01 2024-10-31 11351824 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-10-31 11351824 c:FullAccounts 2023-06-01 2024-10-31 11351824 c:PrivateLimitedCompanyLtd 2023-06-01 2024-10-31 11351824 e:PoundSterling 2023-06-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 11351824









QIPWORKS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2024

 
QIPWORKS LIMITED
REGISTERED NUMBER: 11351824

BALANCE SHEET
AS AT 31 OCTOBER 2024

31 October
31 May
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
60,126
80,829

Cash at bank and in hand
 5 
165,599
70,930

  
225,725
151,759

Creditors: amounts falling due within one year
 6 
(23,069)
(27,762)

Net current assets
  
 
 
202,656
 
 
123,997

Total assets less current liabilities
  
202,656
123,997

  

Net assets
  
202,656
123,997


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
202,556
123,897

  
202,656
123,997


Page 1

 
QIPWORKS LIMITED
REGISTERED NUMBER: 11351824
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 January 2025.




Paul Marcus Carpenter
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
QIPWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

1.


General information

Qipworks Limited is a private limited company limited by share capital. The company is incorporated in England & Wales, company number 11351824. The company's registered office addresss is located at 7th Floor, Regus, 70 London Road, Twickenham TW1 3QS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
QIPWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

17 months ended
31 October
Year ended
31 May
2024
2023
£
£

Wages and salaries
489,392
333,923

Social security costs
57,778
39,300

Cost of defined contribution scheme
55,768
37,293

602,938
410,516


The average monthly number of employees, including directors, during the period was 3 (2023 - 3).


4.


Debtors

31 October
31 May
Page 4

 
QIPWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

4.Debtors (continued)

2024
2023
£
£


Trade debtors
2,679
37,937

Other debtors
9,410
6,435

Prepayments and accrued income
48,037
36,457

60,126
80,829



5.


Cash and cash equivalents

31 October
31 May
2024
2023
£
£

Cash at bank and in hand
165,599
70,930

165,599
70,930



6.


Creditors: Amounts falling due within one year

31 October
31 May
2024
2023
£
£

Trade creditors
3,633
7,155

Other taxation and social security
12,779
11,729

Other creditors
5,177
7,078

Accruals and deferred income
1,480
1,800

23,069
27,762


Page 5

 
QIPWORKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024

7.


Financial instruments

31 October
31 May
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
165,599
70,930




Financial assets measured at fair value through profit or loss comprise cash held at bank.

 
Page 6