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REGISTERED NUMBER: 03980056 (England and Wales)







FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025

FOR

KWIK ACCOUNTING & TAXATION SERVICES LTD

KWIK ACCOUNTING & TAXATION SERVICES LTD (REGISTERED NUMBER: 03980056)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KWIK ACCOUNTING & TAXATION SERVICES LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025







DIRECTOR: S C PATEL





SECRETARY: Mrs C S PATEL





REGISTERED OFFICE: 19 Jackson Close
OADBY
Leicester
Leicestershire
LE2 4US





REGISTERED NUMBER: 03980056 (England and Wales)





ACCOUNTANTS: Kwik Accounting & Taxation Services Limited
15 Mercia Drive
Oadby
Leicester
Leicestershire
LE2 5GB

KWIK ACCOUNTING & TAXATION SERVICES LTD (REGISTERED NUMBER: 03980056)

BALANCE SHEET
31 MARCH 2025

31.3.25 30.4.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,796 5,654
4,796 5,654

CURRENT ASSETS
Debtors 6 - 646
Cash at bank and in hand 7,659 3,033
7,659 3,679
CREDITORS
Amounts falling due within one year 7 9,710 6,150
NET CURRENT LIABILITIES (2,051 ) (2,471 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,745

3,183

CAPITAL AND RESERVES
Called up share capital 8 501 501
Retained earnings 9 2,244 2,682
SHAREHOLDERS' FUNDS 2,745 3,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 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 17 April 2025 and were signed by:




S C PATEL - Director


KWIK ACCOUNTING & TAXATION SERVICES LTD (REGISTERED NUMBER: 03980056)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025

1. STATUTORY INFORMATION

KWIK ACCOUNTING & TAXATION SERVICES LTD 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of two years.

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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

TAXATION
Taxation for the period 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

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.

KWIK ACCOUNTING & TAXATION SERVICES LTD (REGISTERED NUMBER: 03980056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2024
and 31 March 2025 4,350
AMORTISATION
At 1 May 2024
and 31 March 2025 4,350
NET BOOK VALUE
At 31 March 2025 -
At 30 April 2024 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2024 5,120 645 6,364 12,129
Additions - 296 - 296
At 31 March 2025 5,120 941 6,364 12,425
DEPRECIATION
At 1 May 2024 1,877 224 4,374 6,475
Charge for period 648 108 398 1,154
At 31 March 2025 2,525 332 4,772 7,629
NET BOOK VALUE
At 31 March 2025 2,595 609 1,592 4,796
At 30 April 2024 3,243 421 1,990 5,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 30.4.24
£    £   
Trade debtors - 646

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 30.4.24
£    £   
Trade creditors 214 1,705
Taxation and social security 602 1,649
Other creditors 8,894 2,796
9,710 6,150

KWIK ACCOUNTING & TAXATION SERVICES LTD (REGISTERED NUMBER: 03980056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2024 TO 31 MARCH 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.25 30.4.24
value: £    £   
501 Ordinary 1.00 501 501

9. RESERVES
Retained
earnings
£   

At 1 May 2024 2,682
Profit for the period 2,562
Dividends (3,000 )
At 31 March 2025 2,244

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the period, the company paid annual rent of £5100 for office use of the property jointly owned by the directors.