TQB JB LTD

Company Registration Number:
11982461 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2024

Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

TQB JB LTD

Contents of the Financial Statements

for the Period Ended 31 October 2024

Balance sheet
Notes

TQB JB LTD

Balance sheet

As at 31 October 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 2,500 5,001
Tangible assets: 4 215,410 225,673
Total fixed assets: 217,910 230,674
Current assets
Stocks: 7,298 6,832
Debtors:   92,628 95,860
Cash at bank and in hand:   13,911
Total current assets: 99,926 116,603
Creditors: amounts falling due within one year:   (155,639) (218,460)
Net current assets (liabilities): (55,713) (101,857)
Total assets less current liabilities: 162,197 128,817
Creditors: amounts falling due after more than one year:   (159,569) (118,314)
Total net assets (liabilities): 2,628 10,503
Capital and reserves
Called up share capital: 101 101
Profit and loss account: 2,527 10,402
Shareholders funds: 2,628 10,503

The notes form part of these financial statements

TQB JB LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 July 2025
and signed on behalf of the board by:

Name: Mr P E Mcaleavy
Status: Director

The notes form part of these financial statements

TQB JB LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation. When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income. The company recognises revenue from the following major sources: Licenced restaurant The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows: Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Licenced restaurant Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets and depreciation policy

Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 15% reducing balance basis Fixtures and fittings 5% reducing balance basis Computers 3 year straight line basis Motor vehicles 25% reducing balance basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Intangible fixed assets and amortisation policy

Intangible fixed assets - goodwill Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Valuation and information policy

Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Other accounting policies

Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

TQB JB LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

2. Employees

2024 2023
Average number of employees during the period 18 17

TQB JB LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Intangible Assets

Total
Cost £
At 01 November 2023 12,504
At 31 October 2024 12,504
Amortisation
At 01 November 2023 7,503
Charge for year 2,501
At 31 October 2024 10,004
Net book value
At 31 October 2024 2,500
At 31 October 2023 5,001

TQB JB LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Tangible Assets

Total
Cost £
At 01 November 2023 275,349
Additions 5,181
At 31 October 2024 280,530
Depreciation
At 01 November 2023 49,676
Charge for year 15,444
At 31 October 2024 65,120
Net book value
At 31 October 2024 215,410
At 31 October 2023 225,673