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Registration number: 13066342

Quick Skips Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2024 to 31 May 2024

 

Quick Skips Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Quick Skips Limited

Company Information

Director

Mrs B J Hillier

Registered office

7 Whittle Road
Ferndown Idustrial Estate
Wimborne
Dorset
BH21 7RU

Accountants

Elysium
Chartered AcoountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

Quick Skips Limited

(Registration number: 13066342)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

23,958

-

Tangible assets

6

13,620

-

 

37,578

-

Current assets

 

Debtors

7

118,480

100

Cash at bank and in hand

 

23,295

-

 

141,775

100

Creditors: Amounts falling due within one year

8

(182,495)

-

Net current (liabilities)/assets

 

(40,720)

100

Net (liabilities)/assets

 

(3,142)

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(3,242)

-

Shareholders' (deficit)/funds

 

(3,142)

100

For the financial period ending 31 May 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 accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 24 February 2025
 

.........................................
Mrs B J Hillier
Director

 

Quick Skips Limited

Statement of Changes in Equity for the Period from 1 January 2024 to 31 May 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2024

100

-

100

Loss for the period

-

(3,242)

(3,242)

At 31 May 2024

100

(3,242)

(3,142)

Share capital
£

Total
£

At 1 January 2023

100

100

At 31 December 2023

100

100

 

Quick Skips Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
7 Whittle Road
Ferndown Idustrial Estate
Wimborne
Dorset
BH21 7RU

These financial statements were authorised for issue by the director on 24 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Straight line

 

Quick Skips Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 May 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 Year straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

Quick Skips Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 May 2024

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

1,042

-

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

25,000

25,000

At 31 May 2024

25,000

25,000

Amortisation

Amortisation charge

1,042

1,042

At 31 May 2024

1,042

1,042

Carrying amount

At 31 May 2024

23,958

23,958

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

13,620

13,620

At 31 May 2024

13,620

13,620

Depreciation

Carrying amount

At 31 May 2024

13,620

13,620

7

Debtors

Current

2024
£

2023
£

Trade debtors

115,933

-

Other debtors

2,547

100

 

118,480

100

 

Quick Skips Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 May 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

157,754

-

Accruals and deferred income

2,200

-

Other creditors

22,541

-

182,495

-