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Registered Number: 13124826
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 March 2024

for

QUICKSEAL SPECIAL PROJECTS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 31,096    11,670 
31,096    11,670 
Current assets      
Stocks 4 1,300    4,100 
Debtors 5 69,545    86,172 
Cash at bank and in hand 50    (13,403)
70,895    76,869 
Creditors: amount falling due within one year 6 (76,387)   (52,485)
Net current assets (5,492)   24,384 
 
Total assets less current liabilities 25,604    36,054 
Creditors: amount falling due after more than one year 7 (21,186)   (20,598)
Provisions for liabilities 8 (2,217)   (2,217)
Net assets 2,201    13,239 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 2,101    13,139 
Shareholders' funds 2,201    13,239 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 28 March 2025 and were signed on its behalf by:


-------------------------------
David Parry
Director
1
General Information
Quickseal Special Projects Ltd is a private company, limited by shares, registered in England and Wales, registration number 13124826, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 18,495    3,502    21,997 
Additions 21,995    5,847    27,842 
Disposals    
At 31 March 2024 40,490    9,349    49,839 
Depreciation
At 01 April 2023 8,685    1,642    10,327 
Charge for year 7,951    465    8,416 
On disposals    
At 31 March 2024 16,636    2,107    18,743 
Net book values
Closing balance as at 31 March 2024 23,854    7,242    31,096 
Opening balance as at 01 April 2023 9,810    1,860    11,670 


4.

Stocks

2024
£
  2023
£
Stocks 1,300    4,100 
1,300    4,100 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 59,659    86,172 
Other Debtors 9,886   
69,545    86,172 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 27,794    33,186 
Bank Loans & Overdrafts 26,255   
Corporation Tax 4,873    2,735 
PAYE & Social Security 1,316    2,342 
Other Creditors 5,584    5,751 
Directors' Current Accounts 108    53 
VAT 10,457    8,418 
76,387    52,485 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 4,445    13,018 
Obligations Under HP/Financial Leases 16,741    7,580 
21,186    20,598 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,217    2,217 
2,217    2,217 

9.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2