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REGISTERED NUMBER: 06895505 (England and Wales)















Inspek QA Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Inspek QA Limited (Registered number: 06895505)






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


Inspek QA Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: P J Cox





SECRETARY: R A Cox





REGISTERED OFFICE: Redruth, The Highway
New Inn
Pontypool
NP4 0PQ





REGISTERED NUMBER: 06895505 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Inspek QA Limited (Registered number: 06895505)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,609 17,664

CURRENT ASSETS
Debtors 5 1,636 6,120
Cash at bank 23,196 34,253
24,832 40,373
CREDITORS
Amounts falling due within one year 6 12,211 14,148
NET CURRENT ASSETS 12,621 26,225
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,230

43,889

PROVISIONS FOR LIABILITIES 2,112 2,112
NET ASSETS 22,118 41,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,018 41,677
22,118 41,777

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:





P J Cox - Director


Inspek QA Limited (Registered number: 06895505)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Inspek QA 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Inspek QA Limited (Registered number: 06895505)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 2,198 61,344 63,542
DEPRECIATION
At 1 June 2023 1,671 44,207 45,878
Charge for year 106 5,949 6,055
At 31 May 2024 1,777 50,156 51,933
NET BOOK VALUE
At 31 May 2024 421 11,188 11,609
At 31 May 2023 527 17,137 17,664

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,084 6,120
Other debtors 552 -
1,636 6,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security 11,045 12,669
Other creditors 1,166 1,479
12,211 14,148

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
P J Cox
Balance outstanding at start of year (369 ) -
Amounts advanced 64,662 33,482
Amounts repaid (63,763 ) (33,851 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 530 (369 )