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REGISTERED NUMBER: SC347594 (Scotland)















Financial Statements

for the Year Ended 31 August 2024

for

Q Save Ltd.

Q Save Ltd. (Registered number: SC347594)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Q Save Ltd.

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Z Ahmed
Mrs S Kauser





SECRETARY: Mrs S Kauser





REGISTERED OFFICE: Unit 3, Morris Street
Glasgow
G5 0YE





REGISTERED NUMBER: SC347594 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Q Save Ltd. (Registered number: SC347594)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,147 18,147
Tangible assets 5 285,824 289,138
303,971 307,285

CURRENT ASSETS
Stocks 6 71,912 84,629
Debtors 7 8,564 8,564
Cash at bank and in hand 46,408 43,163
126,884 136,356
CREDITORS
Amounts falling due within one year 8 178,029 194,174
NET CURRENT LIABILITIES (51,145 ) (57,818 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,826

249,467

PROVISIONS FOR LIABILITIES 9 3,959 6,274
NET ASSETS 248,867 243,193

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 248,767 243,093
SHAREHOLDERS' FUNDS 248,867 243,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Q Save Ltd. (Registered number: SC347594)

Balance Sheet - continued
31 August 2024


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 Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by:





Mrs S Kauser - Director


Q Save Ltd. (Registered number: SC347594)

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

1. STATUTORY INFORMATION

Q Save Ltd. is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Formation expenses are being amortised evenly over their estimated useful life of nil years.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Formation
Goodwill expenses Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 18,000 147 18,147
NET BOOK VALUE
At 31 August 2024 18,000 147 18,147
At 31 August 2023 18,000 147 18,147

Q Save Ltd. (Registered number: SC347594)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Property and
property improvements fittings
£    £    £   
COST
At 1 September 2023 206,174 49,941 62,527
Additions - - -
Disposals - - -
At 31 August 2024 206,174 49,941 62,527
DEPRECIATION
At 1 September 2023 - - 37,627
Charge for year - - 3,735
Eliminated on disposal - - -
At 31 August 2024 - - 41,362
NET BOOK VALUE
At 31 August 2024 206,174 49,941 21,165
At 31 August 2023 206,174 49,941 24,900

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 16,270 1,867 336,779
Additions 9,441 691 10,132
Disposals (16,270 ) - (16,270 )
At 31 August 2024 9,441 2,558 330,641
DEPRECIATION
At 1 September 2023 9,406 608 47,641
Charge for year 2,360 487 6,582
Eliminated on disposal (9,406 ) - (9,406 )
At 31 August 2024 2,360 1,095 44,817
NET BOOK VALUE
At 31 August 2024 7,081 1,463 285,824
At 31 August 2023 6,864 1,259 289,138

6. STOCKS
31.8.24 31.8.23
£    £   
Stock 71,912 84,629

Q Save Ltd. (Registered number: SC347594)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Camelot deposit 5,000 5,000
Prepaid charges 3,564 3,564
8,564 8,564

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Creditors & accrued charges 11,328 11,803
Loan a/c - Virgin AC 58750J365
34 77,292 77,292
Tax 3,649 7,448
Social security and other taxes (890 ) 1,177
VAT 7,412 7,895
Directors' current accounts 79,238 88,559
178,029 194,174

9. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax
Accelerated capital allowances 3,959 6,274

Deferred
tax
£   
Balance at 1 September 2023 6,274
Credit to Income Statement during year (2,315 )
Balance at 31 August 2024 3,959

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary Share Capital £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 September 2023 243,093
Profit for the year 5,674
At 31 August 2024 248,767

Q Save Ltd. (Registered number: SC347594)

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

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party during the year was Mrs S Kauser.