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REGISTERED NUMBER: 04818003 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

QRS LIMITED

QRS LIMITED (REGISTERED NUMBER: 04818003)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


QRS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mrs R Wood





REGISTERED OFFICE: The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB





REGISTERED NUMBER: 04818003 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

QRS LIMITED (REGISTERED NUMBER: 04818003)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,660 7,777

CURRENT ASSETS
Debtors 5 216,606 287,368
Cash at bank 67,526 27,546
284,132 314,914
CREDITORS
Amounts falling due within one year 6 117,438 135,470
NET CURRENT ASSETS 166,694 179,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,354

187,221

PROVISIONS FOR LIABILITIES 2,259 2,080
NET ASSETS 173,095 185,141

CAPITAL AND RESERVES
Called up share capital 7 240 240
Capital redemption reserve 60 60
Retained earnings 172,795 184,841
SHAREHOLDERS' FUNDS 173,095 185,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 June 2025 and were signed by:



Mrs R Wood - Director


QRS LIMITED (REGISTERED NUMBER: 04818003)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

QRS Limited 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.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 33% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES

The average number of employees during the year was 9 (2023 - 18 ) .

QRS LIMITED (REGISTERED NUMBER: 04818003)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 1,730 11,746 5,357 18,833
Additions 450 - 2,455 2,905
At 31 December 2024 2,180 11,746 7,812 21,738
DEPRECIATION
At 1 January 2024 552 7,828 2,676 11,056
Charge for year 247 587 1,188 2,022
At 31 December 2024 799 8,415 3,864 13,078
NET BOOK VALUE
At 31 December 2024 1,381 3,331 3,948 8,660
At 31 December 2023 1,178 3,918 2,681 7,777

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 206,109 273,556
Other debtors 10,497 13,812
216,606 287,368

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,203
Trade creditors 97,594 73,630
Taxation and social security 5,588 41,462
Other creditors 14,256 18,175
117,438 135,470

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1 40 40
200 Ordinary B £1 200 200
240 240