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REGISTERED NUMBER: 05457373 (England and Wales)















Substance QI Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Substance QI Limited (Registered number: 05457373)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Substance QI Limited

Company Information
for the year ended 31 May 2024







Director: K D Stanfield



Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA



Registered number: 05457373 (England and Wales)



Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA



Bankers: HSBC Bank Plc
789 High Road
North Finchley
London
N12 8JX

Substance QI Limited (Registered number: 05457373)

Balance Sheet
31 May 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 - 194

Current assets
Debtors 5 10,287 10,368
Cash at bank 52,931 71,437
63,218 81,805
Creditors
Amounts falling due within one year 6 35,930 34,244
Net current assets 27,288 47,561
Total assets less current liabilities 27,288 47,755

Capital and reserves
Called up share capital 7 1,000 1,000
Retained earnings 8 26,288 46,755
Shareholders' funds 27,288 47,755

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





K D Stanfield - Director


Substance QI Limited (Registered number: 05457373)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Substance QI Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.

Revenue from services is recognised when the services have been provided and the right to consideration has been earned.

If services have been provided and no billing has been made, the amounts receivable are classified as "accrued income" and separately disclosed within debtors.

Payments received from clients in advance of the performance of the services are recognised by a liability equal to the amount received and classified as "deferred income" and disclosed within creditors.

Where necessary the costs associated with each project have been accrued.

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% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. Employees and directors

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

Substance QI Limited (Registered number: 05457373)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Tangible fixed assets
Computer
equipment
£
Cost
At 1 June 2023
and 31 May 2024 5,641
Depreciation
At 1 June 2023 5,447
Charge for year 194
At 31 May 2024 5,641
Net book value
At 31 May 2024 -
At 31 May 2023 194

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 6,950 6,600
Other debtors 3,337 3,768
10,287 10,368

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 21,840 31,567
Other creditors 14,090 2,677
35,930 34,244

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

8. Reserves
Retained
earnings
£

At 1 June 2023 46,755
Deficit for the year (1,017 )
Dividends (19,450 )
At 31 May 2024 26,288