REGISTERED NUMBER: |
Substance QI Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Bankers: |
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 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 |
Shareholders' funds |
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 were approved by the director and authorised for issue on |
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 |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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 |
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 |
Depreciation |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loan |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 June 2023 |
Deficit for the year | ( |
) |
Dividends | ( |
) |
At 31 May 2024 |