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QUANTUM GAS ENGINEERING LTD

Registered Number
10289845
(England and Wales)

Unaudited Financial Statements for the Year ended
30 May 2024

QUANTUM GAS ENGINEERING LTD
Company Information
for the year from 31 May 2023 to 30 May 2024

Director

SHAW, Hilton Aaron

Registered Address

68a Holden Road
London
N12 7DY

Registered Number

10289845 (England and Wales)
QUANTUM GAS ENGINEERING LTD
Balance Sheet as at
30 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets35,3686,710
5,3686,710
Current assets
Debtors44,40518,789
Cash at bank and on hand33,28227,804
37,68746,593
Creditors amounts falling due within one year5(31,359)(24,151)
Net current assets (liabilities)6,32822,442
Total assets less current liabilities11,69629,152
Creditors amounts falling due after one year6(9,208)(16,197)
Net assets2,48812,955
Capital and reserves
Called up share capital11
Profit and loss account2,48712,954
Shareholders' funds2,48812,955
The financial statements were approved and authorised for issue by the Director on 11 February 2025, and are signed on its behalf by:
SHAW, Hilton Aaron
Director
Registered Company No. 10289845
QUANTUM GAS ENGINEERING LTD
Notes to the Financial Statements
for the year ended 30 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 31 May 234,03113,21417,245
At 30 May 244,03113,21417,245
Depreciation and impairment
At 31 May 232,7347,80110,535
Charge for year2591,0831,342
At 30 May 242,9938,88411,877
Net book value
At 30 May 241,0384,3305,368
At 30 May 231,2975,4136,710
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,40518,789
Total4,40518,789
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,915719
Bank borrowings and overdrafts2,819-
Taxation and social security16,79019,873
Other creditors1,534259
Accrued liabilities and deferred income3,3013,300
Total31,35924,151
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,20816,197
Total9,20816,197