QMC Machines Ltd
Registered number: 11049532
Statement of Financial Position
as at 31 December 2024
Notes 2024 2023
£ £
Current assets
Stocks 57,219 12,975
Debtors 3 126,282 94,714
Cash at bank and in hand 28,287 91,727
211,788 199,416
Creditors: amounts falling due within one year 4 (55,086) (53,675)
Net current assets 156,702 145,741
Net assets 156,702 145,741
Capital and reserves
Called up share capital 100 100
Profit and loss account 156,602 145,641
Shareholders' funds 156,702 145,741
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Kintonis
Director
Approved by the board on 22 September 2025
QMC Machines Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors 124,899 92,071
Other debtors 1,383 2,643
126,282 94,714
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 1,240 1,240
Corporation tax 2,912 564
Other creditors 50,934 51,871
55,086 53,675
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
K Kintonis
Repayable on demand 1,571 - 1,571 -
1,571 - 1,571 -
6 Other information
QMC Machines Ltd is a private company limited by shares and incorporated in England. Its registered office is:
483 Green Lanes
Green Lanes
London
N13 4BS
QMC Machines Ltd 11049532 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 K Kintonis No description of principal activity 11049532 2023-01-01 2023-12-31 11049532 core:WithinOneYear 2023-12-31 11049532 core:ShareCapital 2023-12-31 11049532 core:RetainedEarningsAccumulatedLosses 2023-12-31 11049532 2024-01-01 2024-12-31 11049532 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11049532 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11049532 bus:Director40 2024-01-01 2024-12-31 11049532 1 2024-01-01 2024-12-31 11049532 2 2024-01-01 2024-12-31 11049532 bus:Director1 2024-01-01 2024-12-31 11049532 bus:Director1 1 2024-01-01 2024-12-31 11049532 countries:England 2024-01-01 2024-12-31 11049532 bus:FRS102 2024-01-01 2024-12-31 11049532 bus:FilletedAccounts 2024-01-01 2024-12-31 11049532 2024-12-31 11049532 core:WithinOneYear 2024-12-31 11049532 core:ShareCapital 2024-12-31 11049532 core:RetainedEarningsAccumulatedLosses 2024-12-31 11049532 bus:Director1 1 2024-12-31 11049532 2023-12-31 11049532 bus:Director1 1 2023-12-31 iso4217:GBP xbrli:pure