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Registration number: 09173236

QSDUK Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

QSDUK Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 14

 

QSDUK Ltd

Company Information

Director

Mr Gareth Hughes

Company secretary

Ms Amy Harrison

Registered office

Unit 8
Manor Industrial Estate
Flint
Flintshire
CH6 5UY

Accountants

ESA Accountancy Limited t/a AIMS
1 Chapel & Vestrey
Vownog Road
Sychdyn
Mold
Flintshire
CH7 6ED

 

QSDUK Ltd

Director's Report for the Year Ended 31 August 2024

The director presents his report and the abridged financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr Gareth Hughes

Principal activity

The principal activity of the company is Sprinkler system design and installation

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 January 2025
 

.........................................
Mr Gareth Hughes
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
QSDUK Ltd
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of QSDUK Ltd for the year ended 31 August 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements. These are based on principles approved by IFAC.

This report is made solely to the Board of Directors of QSDUK Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of QSDUK Ltd and state those matters that we have agreed to state to the Board of Directors of QSDUK Ltd, as a body, in this report in accordance with the rules laid down by CIMA. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than QSDUK Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that QSDUK Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of QSDUK Ltd. You consider that QSDUK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of QSDUK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

ESA Accountancy Limited t/a AIMS
1 Chapel & Vestrey
Vownog Road
Sychdyn
Mold
Flintshire
CH7 6ED

10 January 2025

 

QSDUK Ltd

Abridged Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Gross profit

 

436,249

341,359

Administrative expenses

 

(390,142)

(278,717)

Interest payable and similar expenses

 

(4,711)

(6,025)

Profit before tax

4

41,396

56,617

Tax on profit

 

(11,800)

(9,903)

Profit for the financial year

 

29,596

46,714

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

QSDUK Ltd

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Profit for the year

29,596

46,714

Total comprehensive income for the year

29,596

46,714

 

QSDUK Ltd

(Registration number: 09173236)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

43,866

61,149

Current assets

 

Stocks

6

98,903

48,903

Debtors

7

130,577

92,428

Cash at bank and in hand

 

67,985

37,025

 

297,465

178,356

Creditors: Amounts falling due within one year

(173,462)

(114,466)

Net current assets

 

124,003

63,890

Total assets less current liabilities

 

167,869

125,039

Creditors: Amounts falling due after more than one year

(98,270)

(43,536)

Net assets

 

69,599

81,503

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

69,598

81,502

Shareholders' funds

 

69,599

81,503

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 10 January 2025
 

 

QSDUK Ltd

(Registration number: 09173236)
Abridged Balance Sheet as at 31 August 2024

.........................................
Mr Gareth Hughes
Director

 

QSDUK Ltd

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

1

81,502

81,503

Profit for the year

-

29,596

29,596

Dividends

-

(41,500)

(41,500)

At 31 August 2024

1

69,598

69,599

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

1

64,788

64,789

Profit for the year

-

46,714

46,714

Dividends

-

(30,000)

(30,000)

At 31 August 2023

1

81,502

81,503

 

QSDUK Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 8
Manor Industrial Estate
Flint
Flintshire
CH6 5UY

These financial statements were authorised for issue by the director on 10 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

QSDUK Ltd

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

QSDUK Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

QSDUK Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2023 - 11).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

17,284

20,836

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

34,983

77,555

112,538

At 31 August 2024

34,983

77,555

112,538

Depreciation

At 1 September 2023

16,451

34,938

51,389

Charge for the year

6,629

10,654

17,283

At 31 August 2024

23,080

45,592

68,672

Carrying amount

At 31 August 2024

11,903

31,963

43,866

At 31 August 2023

18,532

42,617

61,149

6

Stocks

2024
£

2023
£

Other inventories

98,903

48,903

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

QSDUK Ltd

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

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

9

Dividends

2024

2023

£

£

Final dividend of £Nil (2023 - £1.00) per ordinary share

-

-

Interim dividend of £Nil (2023 - £3.00) per ordinary share

41,500

30,000

41,500

30,000

 

 

10

Related party transactions

 

QSDUK Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,564

12,181