Registered number
12219549
KQF DISTRIBUTION LTD
Filleted Accounts
30 September 2024
KQF DISTRIBUTION LTD
Registered number: 12219549
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 73,615 47,176
Current assets
Stocks 123,383 75,884
Debtors 4 416,224 496,379
Cash at bank and in hand 33,171 78,086
572,778 650,349
Creditors: amounts falling due within one year 5 (422,302) (456,130)
Net current assets 150,476 194,219
Total assets less current liabilities 224,091 241,395
Creditors: amounts falling due after more than one year 6 (116,500) (136,500)
Provisions for liabilities (8,511) (3,221)
Net assets 99,080 101,674
Capital and reserves
Called up share capital 200 200
Profit and loss account 98,880 101,474
Shareholders' funds 99,080 101,674
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.
Mr Faruk Adam Vali
Director
Approved by the board on 5 June 2025
KQF DISTRIBUTION 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.
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:
Property improvements over 10 years
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 - 31,705 24,250 55,955
Additions 16,545 19,049 - 35,594
At 30 September 2024 16,545 50,754 24,250 91,549
Depreciation
At 1 October 2023 - 6,354 2,425 8,779
Charge for the year 1,655 5,075 2,425 9,155
At 30 September 2024 1,655 11,429 4,850 17,934
Net book value
At 30 September 2024 14,890 39,325 19,400 73,615
At 30 September 2023 - 25,351 21,825 47,176
4 Debtors 2024 2023
£ £
Trade debtors 401,224 481,379
Other debtors 15,000 15,000
416,224 496,379
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 287,702 330,470
Amounts owed to group undertakings and undertakings in which the company has a participating interest 30,559 30,559
Taxation and social security costs (2,133) 6,247
Other creditors 106,174 88,854
422,302 456,130
6 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 35,000 35,000
Other creditors 81,500 101,500
116,500 136,500
7 Other information
KQF DISTRIBUTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
17 Rigg Approach
Leyton
London
England
E10 7QN
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