Company Registration No. 9718315 (England and Wales)
JQ Solutions LTD
Unaudited accounts
for the year ended 31 August 2024
JQ Solutions LTD
Unaudited accounts
Contents
JQ Solutions LTD
Statement of financial position
as at 31 August 2024
Inventories
152,885
123,420
Cash at bank and in hand
29,802
22,099
Creditors: amounts falling due within one year
(71,913)
(54,554)
Net current assets
110,774
100,965
Net assets
110,774
100,965
Called up share capital
1,000
1,000
Profit and loss account
109,774
99,965
Shareholders' funds
110,774
100,965
For the year ending 31 August 2024 the company was entitled to exemption from audit 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 August 2025 and were signed on its behalf by
M Kaur
Director
Company Registration No. 9718315
JQ Solutions LTD
Notes to the Accounts
for the year ended 31 August 2024
JQ Solutions LTD is a private company, limited by shares, registered in England and Wales, registration number 9718315. The registered office is 4 FAIRCROSS AVENUE, LONDON, IG11 8RD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
JQ Solutions LTD
Notes to the Accounts
for the year ended 31 August 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
8,896
13,621
Trade creditors
14,734
3,000
Taxes and social security
26,026
27,908
Loans from directors
2,016
2,036
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
2,036
-
20
2,016
8
Average number of employees
During the year the average number of employees was 11 (2023: 6).