Qmover MFS Ltd

	Page
Company Information	1
Strategic Report	2
Directors' Report	3—4
Independent Auditor's Report	5—6
Consolidated Statement of Comprehensive Income	7
Consolidated Balance Sheet	8
Company Balance Sheet	9
Consolidated Statement of Changes in Equity	10
Company Statement of Changes in Equity	11
Consolidated Statement of Cash Flows	12
Notes to the Consolidated Statement of Cash Flows	13
Notes to the Financial Statements	14—22

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Qmover MFS Ltd

Strategic Report

For The Year Ended 31 October 2024

Strategic Report

The directors present their strategic report for the year ended 31 October 2024.

Principal Activity

The principal activity of the group continues to be the wholesale and distribution of food.

Review of the Business

In prior years the group focused its sales activities on takeaways and restaurants. During the year, the group sought to widen its sales base to include residential care homes, schools and the NHS. There has also been a focus on cost reduction and margin improvements. The group turnover has reduced from £21.6m to £16.8m. However, as a result of the strategic shift, gross margins have grown from 14.0% to 17.4%. This has seen the group return to profitability.

Principal Risks and Uncertainties

The group has credit risk in respect of trade debtors, which it manages through its credit control processes and close monitoring of customer credit limits. To reduce credit risk, the group is increasing the proportion of customers who pay by way of direct debit.

The group benefits from credit terms with key suppliers. If suppliers' credit insurers deem it necessary to reduce credit limits, this might impact cashflow. However, the group would seek to mitigate this by ceasing trade in certain markets and making further cost reductions.

Future Developments

The group has now implemented a strategic shift to focus on new markets. The group will continue to develop its market share in these new areas. In particular, the residential care market offers growth opportunities. Additionally, the company has been accepted onto the NHS Supply Chain, Direct Framework, which offers opportunities to further diversify the customer base.

On behalf of the board

Mr G C Dolman

Director

31 October 2025

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Qmover MFS Ltd

Company No. 12968664

Directors' Report For The Year Ended 31 October 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 October 2024.

Dividends

The value of dividends paid amounted to £NIL .

The directors recommended a final dividend of £NIL .

Directors

The directors who held office during the year were as follows:

Mr G C Dolman

Mr M J Dolman

Mr P R Clews

Mrs H C Edwards

Mr A Gurney

Post Balance Sheet Events

The are no post balance sheet events that have occurred since the reporting date that need to be disclosed or adjusted for in these financial statements.

Going Concern

The financial statements of the group show a return to profitability, as the group cut costs and acquired customers in new market sectors such as schools, residential care homes and the NHS. The group has generated positive operating cashflows in the year and has access to finance that will allow it to trade for a period beyond 12 months from the date these accounts are signed. During the next 12 months, the group will continue to focus on acquiring customers in new market sectors and driving forward profitability. On this basis, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company and group's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company and group's auditors are aware of that information.

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Qmover MFS Ltd

Directors' Report (continued)

For The Year Ended 31 October 2024

Independent Auditors

The auditors, Harrison Partners Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr G C Dolman

Director

31 October 2025

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Independent Auditor's Report

to the Members of

Qmover MFS Ltd

Independent Auditor's Report

Opinion

We have audited the financial statements of Qmover MFS Ltd (the "parent company") and its subsidiaries (the "group") for the year ended 31 October 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the group's and of the parent company's affairs as at 31 October 2024 and of the group's profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

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Independent Auditor's Report (continued)

to the Members of

Qmover MFS Ltd

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified the laws and regulations applicable to the company through discussions with the directors and other management and from our commercial knowledge and experience of the food distribution industry. We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the specific laws and regulations that have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and UK GAAP, FRS 102 in particular. We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and ensuring proper policies and procedures are in place. Moreover, the laws and regulations were communicated to the audit team, who remained alert to instances of non-compliance throughout the audit. We also assessed the susceptibility of the company's financial statements to material misstatement by making enquiries of management as to where they considered there was a susceptibility to fraud, their knowledge of actual or suspected frauds and through a consideration of the internal controls that might mitigate the risk of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and the override of controls, we performed substantive testing of material balance sheet assets and liabilities, plus directional testing of revenue, expenses and payroll. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, forgery, collusion or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil Harrison (Senior Statutory Auditor)

for and on behalf of Harrison Partners Limited , Statutory Auditor

31 October 2025

Harrison Partners Limited

Masonic Building

9 Mill Street

Sutton Coldfield

West Midlands

B72 1TJ

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Qmover MFS Ltd

Consolidated Statement of Comprehensive Income

For The Year Ended 31 October 2024

Consolidated Statement of Comprehensive Income

		2024	2023
	Notes	£	£
TURNOVER	3	16,810,857	21,621,033
Cost of sales		(13,884,539 )	(18,590,445 )

GROSS PROFIT		2,926,318	3,030,588

Distribution costs		(2,249,190 )	(2,350,738 )
Administrative expenses		(708,939 )	(885,260 )
Other operating income		-	100

OPERATING LOSS	5	(31,811 )	(205,310 )
Profit on disposal of fixed assets		40,002	42,023
Other interest receivable and similar income	10	473	2
Interest payable and similar charges	11	(592 )	-

PROFIT/(LOSS) BEFORE TAXATION		8,072	(163,285 )
Tax on Profit/(loss)	12	(4,762 )	20,182

PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		3,310	(143,103 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		3,310	(143,103 )

All of the activities of the group are classed as continuing.

The notes on pages 13 to 22 form part of these financial statements.

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Qmover MFS Ltd

Consolidated Balance Sheet

As At 31 October 2024

Consolidated Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	14		107,625		122,325
Tangible Assets	15		258,134		265,936

			365,759		388,261
CURRENT ASSETS
Stocks	17	523,035		537,174
Debtors	18	940,563		1,186,051
Cash at bank and in hand		98,237		112,779

		1,561,835		1,836,004
Creditors: Amounts Falling Due Within One Year	19	(1,951,434 )		(2,116,712 )

NET CURRENT ASSETS (LIABILITIES)			(389,599 )		(280,708 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(23,840 )		107,553

Creditors: Amounts Falling Due After More Than One Year	20		(45,812 )		(185,277 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	21		(16,309 )		(11,547 )

NET LIABILITIES			(85,961 )		(89,271 )

CAPITAL AND RESERVES
Called up share capital	23		1,000		1,000
Profit and Loss Account			(86,961 )		(90,271 )

SHAREHOLDERS' FUNDS			(85,961)		(89,271)

The financial statements were approved by the board of directors on 31 October 2025 and were signed on its behalf by:

Mr G C Dolman

Director

The notes on pages 13 to 22 form part of these financial statements.

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Qmover MFS Ltd

Company Balance Sheet

As At 31 October 2024

Company Balance Sheet

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	14		36,750		42,000
Tangible Assets	15		226,737		227,003
Investments	16		1		1

			263,488		269,004
CURRENT ASSETS
Stocks	17	509,679		527,412
Debtors	18	1,058,058		1,128,344
Cash at bank and in hand		58,800		102,462

		1,626,537		1,758,218
Creditors: Amounts Falling Due Within One Year	19	(1,887,229 )		(2,029,727 )

NET CURRENT ASSETS (LIABILITIES)			(260,692 )		(271,509 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,796		(2,505 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	21		(16,309 )		(11,547 )

NET LIABILITIES			(13,513 )		(14,052 )

CAPITAL AND RESERVES
Called up share capital	23		1,000		1,000
Profit and Loss Account			(14,513 )		(15,052 )

SHAREHOLDERS' FUNDS			(13,513)		(14,052)

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit/(loss) for the year was £ 539 (2023: £(101,964 ) (loss)/profit).

The financial statements were approved by the board of directors on 31 October 2025 and were signed on its behalf by:

Mr G C Dolman

Director

The notes on pages 13 to 22 form part of these financial statements.

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Qmover MFS Ltd

Consolidated Statement of Changes in Equity

For The Year Ended 31 October 2024

Consolidated Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 November 2022	1,000	112,832	113,832
Loss for the year and total comprehensive income	-	(143,103 )	(143,103)

Dividends paid	-	(60,000)	(60,000)

As at 31 October 2023 and 1 November 2023	1,000	(90,271 )	(89,271)


Profit for the year and total comprehensive income	-	3,310	3,310

As at 31 October 2024	1,000	(86,961 )	(85,961)

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Qmover MFS Ltd

Company Statement of Changes in Equity

For The Year Ended 31 October 2024

Company Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 November 2022	1,000	146,912	147,912
Loss for the year and total comprehensive income	-	(101,964 )	(101,964)

Dividends paid	-	(60,000)	(60,000)

As at 31 October 2023 and 1 November 2023	1,000	(15,052 )	(14,052)


Profit for the year and total comprehensive income	-	539	539

As at 31 October 2024	1,000	(14,513 )	(13,513)

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Qmover MFS Ltd

Consolidated Statement of Cash Flows

For The Year Ended 31 October 2024

Consolidated Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	64,216	312,571
Interest paid		(592 )	-
Tax paid		-	(21,508 )

Net cash generated from operating activities		63,624	291,063

Cash flows from investing activities
Purchase of tangible assets		(132,338 )	(180,818 )
Proceeds from disposal of tangible assets		123,431	120,143
Interest received		473	2

Net cash used in investing activities		(8,434 )	(60,673 )

Cash flows from financing activities
Equity dividends paid		-	(60,000 )
Amount withdrawn by directors		(69,732)	(85,536)

Net cash used in financing activities		(69,732 )	(145,536 )



(Decrease)/increase in cash and cash equivalents		(14,542 )	84,854
Cash and cash equivalents at beginning of year	2	112,779	27,925

Cash and cash equivalents at end of year	2	98,237	112,779

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Qmover MFS Ltd

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 October 2024

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit/(loss) for the financial year to cash generated from operations

	2024	2023
	£	£
Profit/(loss) for the financial year	3,310	(143,103 )
Adjustments for:
Tax on profit/(loss)	4,762	(20,182 )
Interest expense	592	-
Interest income	(473 )	(2 )
Amortisation of intangible assets	14,700	14,700
Depreciation of tangible assets	56,711	51,864
Profit on disposal of tangible assets	(40,002)	(42,023)
Movements in working capital:
Decrease in stocks	14,139	605,014
Decrease in trade and other debtors	245,488	145,886
Decrease in trade and other creditors	(235,011 )	(299,583 )

Net cash generated from operations	64,216	312,571

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	98,237	112,779

3. Analysis of changes in net funds

	As at 1 November 2023	Cash flows	As at 31 October 2024
	£	£	£
Cash at bank and in hand	112,779	(14,542)	98,237

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Qmover MFS Ltd

Notes to the Financial Statements

For The Year Ended 31 October 2024

Notes to the Financial Statements

1. General Information

Qmover MFS Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12968664 . The registered office is Rylance Farm Ind Est, Walton Lane, Barton Under Needwood, Burton-On-Trent, DE13 8EJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements of the group show a return to profitability, as the group cut costs and acquired customers in new market sectors, such as schools, residential care homes and the NHS. The group has generated positive operating cashflows in the year and has access to finance that will allow it to trade for a period beyond 12 months from the date these accounts are signed. During the next 12 months, the group will continue to focus on acquiring customers in new market sectors and driving forward profitability. On this basis, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.

Goodwill is amortised over its expected useful life which is estimated to be 10 years.

Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Reducing Balance
Motor Vehicles	20% Reducing Balance
Computer Equipment	15% Reducing Balance

2.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out method. At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account.

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.8. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

The whole of the group's turnover is derived from the UK and is from the group's principal activity.

4. Other Operating Income

	2024	2023
	£	£
Commission income	-	100

	-	100

5. Operating Loss

The operating loss is stated after charging:

	2024	2023
	£	£
Bad debts	19,398	127,326
Depreciation of tangible fixed assets	56,711	51,864
Amortisation of intangible fixed assets	14,700	14,700

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the group and company's financial statements	8,500	8,000


Other Services
Audit-related assurance services	5,700	5,450
Taxation compliance service	400	400
Other non-audit services	4,908	4,908

	11,008	10,758

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Wages and salaries	1,656,530	1,744,094	1,444,284	1,558,979
Social security costs	140,755	149,364	121,232	134,958
Other pension costs	40,690	46,792	37,737	44,748

	1,837,975	1,940,250	1,603,253	1,738,685

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	Group		Company
	2024	2023	2024	2023
Office and administration	6	5	6	5
Sales, marketing and distribution	56	69	48	61

	62	74	54	66

9. Directors' remuneration

	2024	2023
	£	£
Emoluments	164,025	146,264
Company contributions to money purchase pension schemes	3,270	3,166

	167,295	149,430

The number of directors to whom retirement benefits were accruing was as follows:

	2024		2023
Money purchase pension schemes	3		3

10. Interest Receivable and Similar Income

	2024	2023
	£	£
Bank interest receivable	473	2

11. Interest Payable and Similar Charges

	2024	2023
	£	£
Other finance charges	592	-

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

12. Tax on Profit

	Tax Rate		2024	2023
The tax charge/(credit) on the profit/(loss) for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	22.5%	-	-
Prior period adjustment			-	106

			-	106
Deferred Tax
Deferred taxation			4,762	(20,288 )


Total tax charge for the period			4,762	(20,182 )


The actual charge/(credit) for the year can be reconciled to the expected charge/(credit) for the year based on the profit/(loss) and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			8,072	(163,285)

Tax on profit at 25% (UK standard rate)			3,872	(17,328 )
Goodwill/depreciation not allowed for tax			3,676	1,386
Expenses not deductible for tax purposes			520	347
Tax losses utilised			(9,614 )	25,018
Capital allowances			1,546	(9,423 )
Short term timing differences			4,762	(20,288 )
Prior period adjustment			-	106

Total tax charge for the period			4,762	(20,182)

13. Prior Period Adjustment

Prior year employee costs totalling £169,185, have been moved from administrative expenses to distribution costs and prior year employee costs of £1,528,770, have been moved from cost of sales to distribution costs. The director believes that this more fairly represents the work undertaken by the employees associated with those costs.

14. Intangible Assets

Group

	Goodwill
	£
Cost
As at 1 November 2023	147,000

As at 31 October 2024	147,000

Amortisation
As at 1 November 2023	24,675
Provided during the period	14,700

As at 31 October 2024	39,375

...CONTINUED

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

Net Book Value
As at 31 October 2024	107,625

As at 1 November 2023	122,325

Company

	Goodwill
	£
Cost
As at 1 November 2023	52,500

As at 31 October 2024	52,500

Amortisation
As at 1 November 2023	10,500
Provided during the period	5,250

As at 31 October 2024	15,750

Net Book Value
As at 31 October 2024	36,750

As at 1 November 2023	42,000

15. Tangible Assets

Group

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2023	94,201	241,003	10,182	345,386
Additions	12,605	117,874	1,859	132,338
Disposals	-	(103,748 )	-	(103,748 )

As at 31 October 2024	106,806	255,129	12,041	373,976

Depreciation
As at 1 November 2023	21,642	54,115	3,693	79,450
Provided during the period	13,484	41,759	1,468	56,711
Disposals	-	(20,319 )	-	(20,319 )

As at 31 October 2024	35,126	75,555	5,161	115,842

Net Book Value
As at 31 October 2024	71,680	179,574	6,880	258,134

As at 1 November 2023	72,559	186,888	6,489	265,936

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

Company

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2023	63,887	219,003	10,182	293,072
Additions	12,505	117,874	1,859	132,238
Disposals	-	(103,748 )	-	(103,748 )

As at 31 October 2024	76,392	233,129	12,041	321,562

Depreciation
As at 1 November 2023	14,861	47,515	3,693	66,069
Provided during the period	8,928	38,679	1,468	49,075
Disposals	-	(20,319 )	-	(20,319 )

As at 31 October 2024	23,789	65,875	5,161	94,825

Net Book Value
As at 31 October 2024	52,603	167,254	6,880	226,737

As at 1 November 2023	49,026	171,488	6,489	227,003

16. Investments

Company

	Subsidiaries
	£
Cost or Valuation
As at 1 November 2023	1

As at 31 October 2024	1

Provision
As at 1 November 2023	-

As at 31 October 2024	-

Net Book Value
As at 31 October 2024	1

As at 1 November 2023	1

Subsidiaries

Details of the group's subsidiaries as at 31 October 2024 are as follows:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Strawberry Fields Qmover Ltd	Rylance Farm, Barton Under Needwood, DE13 8EJ	Ordinary	100.00%	-

The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Strawberry Fields Qmover Ltd	(72,447 )	2,771

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

17. Stocks

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Stock	523,035	537,174	509,679	527,412

18. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Due within one year
Trade debtors	897,559	1,105,970	818,070	991,366
Prepayments and accrued income	2,992	32,207	1,587	30,836
Other debtors	3,076	3,732	-	-
VAT	36,936	44,142	36,936	44,142
Amounts owed by subsidiaries	-	-	201,465	62,000

	940,563	1,186,051	1,058,058	1,128,344

The amounts owed by subsidiaries are unsecured, interest free and repayable on demand.

19. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Trade creditors	1,856,997	2,022,019	1,805,611	1,945,426
Other creditors	5,769	2,889	5,660	2,539
Taxation and social security	30,674	38,896	27,404	34,735
Accruals and deferred income	57,994	52,908	48,554	47,027

	1,951,434	2,116,712	1,887,229	2,029,727

20. Creditors: Amounts Falling Due After More Than One Year

	Group
	2024	2023
	£	£
Other creditors	45,812	185,277

21. Deferred Taxation

The provision for deferred tax is made up as follows:

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Other timing differences	16,309	11,547	16,309	11,547

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

22. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 November 2023	11,547	11,547
Additions	4,762	4,762

Balance at 31 October 2024	16,309	16,309

Company
	Deferred Tax	Total
	£	£
As at 1 November 2023	11,547	11,547
Additions	4,762	4,762

Balance at 31 October 2024	16,309	16,309

23. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
850 Ordinary Shares of £ 1.00 each	850	850
150 Ordinary B shares of £ 1.00 each	150	150

	1,000	1,000

24. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £40,690 (2023: £46,792).

At the balance sheet date contributions of £0 (2023: £1,004) were due to the fund and are included in creditors.

25. Dividends

	2024	2023
	£	£
On equity shares:
Final dividend paid	-	60,000

26. Reserves

Company

Profit and loss account - This reserve records retained earnings and accumulated losses.

27. Post Balance Sheet Events

There are no post balance sheet events that have occurred since the reporting date that need to be disclosed or adjusted for in these financial statements.

Page 21

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Qmover MFS Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

28. Related Party Disclosures

During the year the group paid £20,798 (2023: £20,798) of rent and £119,627 (2023: £224,798) of vehicle hire to J.W. Dolman Enterprises Limited. This is a company in which the group directors Graham Dolman and Marvin Dolman each have a 12% share.

Group creditors, amounts falling due after one year include an amount of £22,906 (2023: £92,638) due to the director Graham Dolman and £22,906 (2023: £92,639) due to the director Marvin Dolman.

29. Controlling Parties

The company's ultimate controlling parties are Graham Dolman and Marvin Dolman who each hold 42.5% of the company's share capital.

Page 22