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REGISTERED NUMBER: 04974885 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

QUALITURN LIMITED

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


QUALITURN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Mr S W Best





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 04974885 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,778 66,765

CURRENT ASSETS
Stocks 5 25,160 36,993
Debtors 6 106,547 114,178
Cash at bank 113,761 47,892
245,468 199,063
CREDITORS
Amounts falling due within one year 7 118,979 97,152
NET CURRENT ASSETS 126,489 101,911
TOTAL ASSETS LESS CURRENT
LIABILITIES

189,267

168,676

CREDITORS
Amounts falling due after more than one
year

8

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES 10 (15,694 ) (16,691 )
NET ASSETS 168,573 136,985

CAPITAL AND RESERVES
Called up share capital 11 3 3
Retained earnings 168,570 136,982
SHAREHOLDERS' FUNDS 168,573 136,985

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2025 and were signed by:





Mr S W Best - Director


QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Qualiturn 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.

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.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and
leasehold machinery Totals
£    £    £   
Cost
At 1 December 2023 24,830 321,047 345,877
Additions - 6,779 6,779
At 30 November 2024 24,830 327,826 352,656
Depreciation
At 1 December 2023 24,830 254,282 279,112
Charge for year - 10,766 10,766
At 30 November 2024 24,830 265,048 289,878
Net book value
At 30 November 2024 - 62,778 62,778
At 30 November 2023 - 66,765 66,765

5. STOCKS
30.11.24 30.11.23
£    £   
Stocks 15,550 22,000
Work-in-progress 9,610 14,993
25,160 36,993

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 106,547 114,178

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 32,550 38,126
Taxation and social security 54,360 32,807
Other creditors 22,069 16,219
118,979 97,152

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans (see note 9) 5,000 15,000

9. LOANS

An analysis of the maturity of loans is given below:

30.11.24 30.11.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,000

10. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 15,694 16,691

Deferred
tax
£   
Balance at 1 December 2023 16,691
Provided during year (997 )
charge for the year
Balance at 30 November 2024 15,694

QUALITURN LIMITED (REGISTERED NUMBER: 04974885)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
200 Ordinary £0.01 2 2
1 Ordinary A £1 1 1
3 3