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Registration number: 01018276

Qualkem Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Qualkem Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Qualkem Limited

(Registration number: 01018276)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

50,136

35,866

Current assets

 

Stocks

73,875

84,978

Debtors

5

62,879

79,457

Cash at bank and in hand

 

91,103

59,466

 

227,857

223,901

Creditors: Amounts falling due within one year

6

(128,672)

(123,558)

Net current assets

 

99,185

100,343

Total assets less current liabilities

 

149,321

136,209

Creditors: Amounts falling due after more than one year

6

(35,189)

(68,348)

Net assets

 

114,132

67,861

Capital and reserves

 

Called up share capital

10,020

10,020

Capital redemption reserve

12,000

12,000

Retained earnings

92,112

45,841

Shareholders' funds

 

114,132

67,861

 

Qualkem Limited

(Registration number: 01018276)
Balance Sheet as at 31 December 2024

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

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 June 2025 and signed on its behalf by:
 

.........................................
Mr I Anketell-Clifford
Director

 

Qualkem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

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 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 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.

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.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

 

Qualkem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax.

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

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:

Asset class

Depreciation method and rate

Improvements to leasehold property

over the life of the lease

Fixtures, fittings and computer equipment

straight line over 3 years

Plant and machinery

straight line over 4 years

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 18).

 

Qualkem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Improvements to leasehold property
£

Fixtures, fittings and computer equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

50,255

7,281

82,559

140,095

Additions

-

-

45,889

45,889

Disposals

-

-

(4,520)

(4,520)

At 31 December 2024

50,255

7,281

123,928

181,464

Depreciation

At 1 January 2024

36,783

6,249

61,197

104,229

Charge for the year

4,490

546

24,323

29,359

Eliminated on disposal

-

-

(2,260)

(2,260)

At 31 December 2024

41,273

6,795

83,260

131,328

Carrying amount

At 31 December 2024

8,982

486

40,668

50,136

At 31 December 2023

13,472

1,032

21,362

35,866

5

Debtors

Current

2024
£

2023
£

Trade debtors

60,307

74,106

Other debtors

2,572

5,351

 

62,879

79,457

 

Qualkem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans

33,158

30,829

Trade creditors

 

63,358

42,300

Taxation and social security

 

22,078

35,029

Other creditors

 

10,078

15,400

 

128,672

123,558

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Bank loans

35,189

68,348