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Registered number: 14872761









QUIETLUX TRADING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2024

 
QUIETLUX TRADING LTD
REGISTERED NUMBER: 14872761

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

Period ended 31 May 2024
Period ended 31 May 2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,746

  
6,746

Current assets
  

Debtors: amounts falling due within one year
 5 
149,856

Cash at bank and in hand
  
15,583

  
165,439

Creditors: amounts falling due within one year
 6 
(123,312)

Net current assets
  
 
 
42,127

Total assets less current liabilities
  
48,873

  

Net assets
  
48,873


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
48,773

  
48,873


Page 1

 
QUIETLUX TRADING LTD
REGISTERED NUMBER: 14872761
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges her 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 by: 




................................................
Xialin Yang
Director

Date: 12 February 2025

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

Page 2

 
QUIETLUX TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

Quietlux Trading Ltd is a private company limited by shares and registered in England and Wales.
The address of its registered office is 124 Finchley Road, London NW3 5JS. The principal place of business is Flat 2, 6 Nugent Terrace,London.NW8 9QB. The company was incorporated on 16 May 2023 and it commenced to trade on 1 June 2023.

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

Going concern

After reviewing the company's forecasts and projections, the directors have reasonable expectation
that the company has adequate resources to continue in operational existence for the forseeable
future. The company therefore continues to adopt the going concern basis in preparing its financial
statements, but with the provision that a material uncertainty exists over the company.

  
2.3

Currency

The company's functional and presentational currency is GBP.

 
2.4

Revenue



Revenue comprises income from the sale of luxury fashion goods and is recognised in the
statement of income and retained earnings at the point the goods are delivered to the customer. It is
measured at the fair value of the consideration receivable, exclusive of value added tax and
discounts.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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 reporting date in the countries where the Company operates and generates income.

Page 3

 
QUIETLUX TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value.

  
2.9

Debtors

Short term debtors are measured at the transaction price, less any impairment.

  
2.10

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.

  
2.11

Creditors

Short term creditors are measured at the transaction price.

  
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Period was 2.

Page 4

 
QUIETLUX TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
7,496



At 31 May 2024

7,496



Depreciation


Charge for the Period on owned assets
750



At 31 May 2024

750



Net book value



At 31 May 2024
6,746


5.


Debtors

Period ended 31 May 2024
£


Trade debtors
114,973

Other debtors
34,883

149,856


Page 5

 
QUIETLUX TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

6.


Creditors: Amounts falling due within one year

Period ended 31 May 2024
£

Trade creditors
15,727

Corporation tax
24,707

Other creditors
77,099

Accruals
5,779

123,312



7.


Related party transactions

At the balance sheet date, the Company owed £56,924 to its director in respect of unsecured and interest-free balances that are repayable on demand with no fixed date for repayment.

Page 6