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Company Registration No. 12764232 (England and Wales)
Quickfix Guttering Supplies Ltd Unaudited accounts for the year ended 31 July 2024
Quickfix Guttering Supplies Ltd Unaudited accounts Contents
Page
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Quickfix Guttering Supplies Ltd Company Information for the year ended 31 July 2024
Director
Jitender Singh
Company Number
12764232 (England and Wales)
Registered Office
339 Whalebone Lane South Romford Essex RM6 6HB England
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Quickfix Guttering Supplies Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
51,167 
43,315 
Current assets
Inventories
50,950 
12,500 
Debtors
35,903 
7,301 
Cash at bank and in hand
3,242 
7,337 
90,095 
27,138 
Creditors: amounts falling due within one year
(77,313)
(52,411)
Net current assets/(liabilities)
12,782 
(25,273)
Net assets
63,949 
18,042 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
63,749 
17,842 
Shareholders' funds
63,949 
18,042 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2025 and were signed on its behalf by
Jitender Singh Director Company Registration No. 12764232
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Quickfix Guttering Supplies Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Quickfix Guttering Supplies Ltd is a private company, limited by shares, registered in England and Wales, registration number 12764232. The registered office is 339 Whalebone Lane South, Romford, Essex, RM6 6HB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Quickfix Guttering Supplies Ltd Notes to the Accounts for the year ended 31 July 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
- 
22,900 
28,000 
5,326 
56,226 
Additions
9,014 
15,795 
- 
- 
24,809 
At 31 July 2024
9,014 
38,695 
28,000 
5,326 
81,035 
Depreciation
At 1 August 2023
- 
4,580 
7,000 
1,331 
12,911 
Charge for the year
1,803 
6,823 
7,000 
1,331 
16,957 
At 31 July 2024
1,803 
11,403 
14,000 
2,662 
29,868 
Net book value
At 31 July 2024
7,211 
27,292 
14,000 
2,664 
51,167 
At 31 July 2023
- 
18,320 
21,000 
3,995 
43,315 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,799 
Trade debtors
8,930 
2,502 
Accrued income and prepayments
265 
- 
Other debtors
26,708 
- 
35,903 
7,301 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,233 
- 
Trade creditors
14,728 
17,254 
Taxes and social security
19,308 
2,459 
Loans from directors
37,620 
31,698 
Accruals
4,424 
1,000 
77,313 
52,411 
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Quickfix Guttering Supplies Ltd Notes to the Accounts for the year ended 31 July 2024
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
8
Transactions with related parties
Included in other creditors is the sum of £32,455 (2023: £31,698) owed to Mr Jitender Singh, a sole director and 100% shareholder of the company. Included in other debtors is a sum of £26,708 (2023: Nil) owed by Sikka Construction Ltd, a company in which Mr Jitender Sing is also a sole director and 100% shareholder.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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