Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseNo description of principal activity1010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10239097 2023-07-01 2024-06-30 10239097 2022-07-01 2023-06-30 10239097 2024-06-30 10239097 2023-06-30 10239097 c:Director1 2023-07-01 2024-06-30 10239097 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 10239097 d:Buildings d:ShortLeaseholdAssets 2024-06-30 10239097 d:Buildings d:ShortLeaseholdAssets 2023-06-30 10239097 d:PlantMachinery 2023-07-01 2024-06-30 10239097 d:PlantMachinery 2024-06-30 10239097 d:PlantMachinery 2023-06-30 10239097 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10239097 d:FurnitureFittings 2023-07-01 2024-06-30 10239097 d:FurnitureFittings 2024-06-30 10239097 d:FurnitureFittings 2023-06-30 10239097 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10239097 d:OfficeEquipment 2023-07-01 2024-06-30 10239097 d:OfficeEquipment 2024-06-30 10239097 d:OfficeEquipment 2023-06-30 10239097 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10239097 d:ComputerEquipment 2023-07-01 2024-06-30 10239097 d:ComputerEquipment 2024-06-30 10239097 d:ComputerEquipment 2023-06-30 10239097 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10239097 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10239097 d:CurrentFinancialInstruments 2024-06-30 10239097 d:CurrentFinancialInstruments 2023-06-30 10239097 d:Non-currentFinancialInstruments 2024-06-30 10239097 d:Non-currentFinancialInstruments 2023-06-30 10239097 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10239097 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10239097 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 10239097 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 10239097 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 10239097 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 10239097 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 10239097 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 10239097 c:FRS102 2023-07-01 2024-06-30 10239097 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10239097 c:FullAccounts 2023-07-01 2024-06-30 10239097 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10239097 2 2023-07-01 2024-06-30 10239097 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10239097









Q 888 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
Q 888 LIMITED
REGISTERED NUMBER: 10239097

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
16,324
29,312

Current assets
  

Stocks
  
4,814
4,875

Debtors: amounts falling due within one year
 5 
629
550

Cash at bank and in hand
  
96,277
51,924

  
101,720
57,349

Creditors: amounts falling due within one year
 6 
(57,044)
(43,027)

Net current assets
  
 
 
44,676
 
 
14,322

Total assets less current liabilities
  
61,000
43,634

  

Creditors: amounts falling due after more than one year
 7 
(27,018)
(30,840)

  
33,982
12,794

Provisions for liabilities
  

Deferred taxation
  
(3,259)
(4,576)

  

Net assets
  
30,723
8,218


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
30,623
8,118

  
30,723
8,218


Page 1

 
Q 888 LIMITED
REGISTERED NUMBER: 10239097
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2025.




C K Wong
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Q 888 Limited is a private limited company, incorporated and domiciled in England.  Its registered office is situated at 68 West Gate, Mansfield, Nottinghamshire NG18 1RR.  Its principal place of business is 343 Nottingham Road, Mansfield, Nottinghamshire NG18 4SG.
The principal activity of the company is that of a Chinese takeaway.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis.  The director believes that the company has sufficient resources to be able to continue to trade until at least February 2026.
At the time of signing there is still a degree of uncertainty about the full economic impact of the cost of living and wider geopolitacal issues. The director understands that the company may be affected to some degree by general economic factors in the UK and continues to monitor the position closely, however believes that the company will continue its current level of activity subject to his continued support.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
5 years straight line
Plant and machinery
-
20%
straight line
Fixtures and fittings
-
Office equipment
-
20%
straight line
Computer equipment
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 6

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 July 2023
12,089
48,897
5,822
1,082
4,770
72,660



At 30 June 2024

12,089
48,897
5,822
1,082
4,770
72,660



Depreciation


At 1 July 2023
6,384
31,453
2,628
498
2,385
43,348


Charge for the year on owned assets
2,418
8,739
1,164
190
477
12,988



At 30 June 2024

8,802
40,192
3,792
688
2,862
56,336



Net book value



At 30 June 2024
3,287
8,705
2,030
394
1,908
16,324



At 30 June 2023
5,705
17,444
3,194
584
2,385
29,312


5.


Debtors

2024
2023
£
£


Prepayments and accrued income
629
550


Page 7

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,853
6,250

Trade creditors
18,113
17,084

Other taxation and social security
23,132
19,534

Other creditors
9,547
159

Accruals and deferred income
399
-

57,044
43,027



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
27,018
30,840



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,853
6,250

Amounts falling due 1-2 years

Bank loans
6,269
6,250

Amounts falling due 2-5 years

Bank loans
20,749
18,750

Amounts falling due after more than 5 years

Bank loans
-
5,840

32,871
37,090


Page 8

 
Q 888 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £749 (2023 - £888). Contributions totalling £142 (2023 - £25) were payable to the fund at the balance sheet date and are included in other creditors.

 
Page 9