Company registration number 13349053 (England and Wales)
QBEX LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
QBEX LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
QBEX LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
85,671
99,024
Tangible assets
4
749
1,417
86,420
100,441
Current assets
Debtors
5
45,964
123,834
Cash at bank and in hand
89,982
56,590
135,946
180,424
Creditors: amounts falling due within one year
6
(145,299)
(167,421)
Net current (liabilities)/assets
(9,353)
13,003
Total assets less current liabilities
77,067
113,444
Creditors: amounts falling due after more than one year
7
(5,500)
(77,500)
Provisions for liabilities
(177)
-
0
Net assets
71,390
35,944
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
71,387
35,941
Total equity
71,390
35,944

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

QBEX LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 August 2025 and are signed on its behalf by:
Mr AD Birrell
Director
Company registration number 13349053 (England and Wales)
QBEX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

QBEX Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

 

The company changed name from Quintech Business Management Solutions Ltd on 15 January 2025.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
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 10 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.

1.4
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:

Computers
3 year straight line

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

QBEX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
5
QBEX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
133,527
Amortisation and impairment
At 1 January 2024
34,503
Amortisation charged for the year
13,353
At 31 December 2024
47,856
Carrying amount
At 31 December 2024
85,671
At 31 December 2023
99,024
4
Tangible fixed assets
Computers
£
Cost
At 1 January 2024 and 31 December 2024
2,457
Depreciation and impairment
At 1 January 2024
1,040
Depreciation charged in the year
668
At 31 December 2024
1,708
Carrying amount
At 31 December 2024
749
At 31 December 2023
1,417
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
42,884
122,408
Other debtors
3,080
1,426
45,964
123,834
QBEX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
16,955
3,256
Taxation and social security
33,175
36,069
Other creditors
95,169
128,096
145,299
167,421
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
5,500
77,500
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan due from director
-
-
1,753
(920)
833
-
1,753
(920)
833
9
Parent company

The immediate controlling party is SMEXPAND Ltd, which owns 100% of the company's issued share capital, The registered office of SMEXPAND Ltd is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE,

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