REGISTERED NUMBER: 05606595 (England and Wales)

QRA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 30 APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

N R Parnham

Mrs J A Parnham

SECRETARY:

Mrs J A Parnham

REGISTERED OFFICE:

Clough Farm Cottage

South Ormsby Road

Tetford

Lincolnshire

LN9 6QF

REGISTERED NUMBER:

05606595 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Oxley House

Lincoln Way

Louth

Lincolnshire

LN11 0LS

FIXED ASSETS

Tangible assets

4

-

1,535

CURRENT ASSETS

Debtors

5

4,928

34,829

Cash at bank

1,286

187

6,214

35,016

CREDITORS

Amounts falling due within one year

6

6,114

11,321

NET CURRENT ASSETS

100

23,695

TOTAL ASSETS LESS CURRENT LIABILITIES

100

25,230

CREDITORS

Amounts falling due after more than one year

7

-

15,127

NET ASSETS

100

10,103

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

-

10,003

SHAREHOLDERS' FUNDS

100

10,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:

N R Parnham - Director

1.	STATUTORY INFORMATION

QRA 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Services provided to clients during the year, which at the balance sheet date have not been billed to clients, have been recognised as turnover in accordance with Financial Reporting Standard 5 'Reporting the substance of transactions : Application Note G Revenue Recognition'. Turnover recognised in this manner is based on an assessment of the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Short leasehold improvements - 5% on cost

Fixture and fittings - 20% on cost

Computer equipment - 25% on cost

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Going concern

The company ceased to trade on the 30 April 2025.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Short

Fixtures

leasehold

and

Computer

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 November 2023

4,840

2,414

4,875

12,129

Disposals

(4,840

)

(2,414

)

(4,875

)

(12,129

)

At 30 April 2025

-

-

-

-

DEPRECIATION

At 1 November 2023

3,305

2,414

4,875

10,594

Charge for period

168

-

-

168

Eliminated on disposal

(3,473

)

(2,414

)

(4,875

)

(10,762

)

At 30 April 2025

-

-

-

-

NET BOOK VALUE

At 30 April 2025

-

-

-

-

At 31 October 2023

1,535

-

-

1,535

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

1,356

1,275

Other debtors

3,572

33,554

4,928

34,829

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade creditors

1,327

1,448

Taxation and social security

3,527

6,256

Other creditors

1,260

3,617

6,114

11,321

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Other creditors

-

15,127

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2023

£

£

Other loans

-

17,490

The loan and bank overdraft are secured on the assets held by the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2023

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2025 and the year ended 31 October 2023:

2025

2023

£

£

N R Parnham

Balance outstanding at start of period

33,554

16,517

Amounts advanced

9,525

34,037

Amounts repaid

(39,506

)

(17,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

3,573

33,554

The directors' loan is unsecured and repayable on demand. Interest has been charged at HM Revenue and Customs official rate of interest. The directors' loan account was repaid within 9 months of the year end.