Registered number
12185850
QDFC LTD
Filleted Accounts
30 September 2024
QDFC LTD
Registered number: 12185850
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 45,000 60,000
Tangible assets 4 77,641 18,301
122,641 78,301
Current assets
Stocks 9,352 8,765
Debtors 5 9,198 7,125
Cash at bank and in hand 88,751 79,639
107,301 95,529
Creditors: amounts falling due within one year 6 (121,455) (120,638)
Net current liabilities (14,154) (25,109)
Total assets less current liabilities 108,487 53,192
Creditors: amounts falling due after more than one year 7 - (16,667)
Provisions for liabilities (15,159) -
Net assets 93,328 36,525
Capital and reserves
Called up share capital 4 4
Profit and loss account 93,324 36,521
Shareholders' funds 93,328 36,525
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hoyland
Director
Approved by the board on 6 May 2025
QDFC LTD
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 and 5 years
Fixtures, fittings, tools and equipment over 4 and 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 150,000
At 30 September 2024 150,000
Amortisation
At 1 October 2023 90,000
Provided during the year 15,000
At 30 September 2024 105,000
Net book value
At 30 September 2024 45,000
At 30 September 2023 60,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 6,652 60,206 - 66,858
Additions 8,393 80,347 2,150 90,890
At 30 September 2024 15,045 140,553 2,150 157,748
Depreciation
At 1 October 2023 5,322 43,235 - 48,557
Charge for the year 3,009 28,111 430 31,550
At 30 September 2024 8,331 71,346 430 80,107
Net book value
At 30 September 2024 6,714 69,207 1,720 77,641
At 30 September 2023 1,330 16,971 - 18,301
5 Debtors 2024 2023
£ £
Other debtors 9,198 7,125
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 10,000
Trade creditors 12,311 6,574
Taxation and social security costs 47,556 38,655
Other creditors 61,588 65,409
121,455 120,638
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 16,667
8 Controlling party
The company is controlled by Mr R Hoyland.
9 Other information
QDFC LTD is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland Common
Barnsley
S74 0PB
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