QCROSS LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01989312

QCROSS LIMITED

Filleted Unaudited Financial Statements

31 March 2025

QCROSS LIMITED

Statement of Financial Position

31 March 2025

	2025		2024
			(restated)
Note	£	£	£

Fixed assets

Tangible assets	6	1,350	1,799
Investments	7	2,477,521	2,367,601
		------------	------------
		2,478,871	2,369,400

Current assets

Stocks		36,250	35,470
Debtors	8	475,254	287,983
Cash at bank and in hand		2,081,366	1,936,565
		------------	------------
		2,592,870	2,260,018

Creditors: amounts falling due within one year	9	316,652		318,610
		------------		------------
Net current assets			2,276,218	1,941,408
			------------	------------
Total assets less current liabilities			4,755,089	4,310,808

Provisions

Taxation including deferred tax	146,090	129,389
	------------	------------
Net assets	4,608,999	4,181,419
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	4,608,997	4,181,417
	------------	------------
Shareholders funds	4,608,999	4,181,419
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have 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 Act with respect to accounting records and the preparation of financial statements .

QCROSS LIMITED

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

Mr Harishkumar M Haria
Director

Company registration number: 01989312

QCROSS LIMITED

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Friern Barnet Road, New Southgate, London, N11 1NE.

2. Statement of compliance

The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to he financial statements for the period and there were no material departures from the reporting standard. The financial statements are presented in pound sterling and this is the functional currency of the company.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and 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 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 (as restated) and 31 March 2025	40,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	40,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2024 (as restated) and 31 March 2025	633	2,490	52,313	55,436
	----	-------	--------	--------
Depreciation
At 1 April 2024	633	2,384	50,620	53,637
Charge for the year	–	26	423	449
	----	-------	--------	--------
At 31 March 2025	633	2,410	51,043	54,086
	----	-------	--------	--------
Carrying amount
At 31 March 2025	–	80	1,270	1,350
	----	-------	--------	--------
At 31 March 2024	–	106	1,693	1,799
	----	-------	--------	--------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 as restated	2,367,601
Additions	126,903
Disposals	( 83,788)
Revaluations	66,805
	------------
At 31 March 2025	2,477,521
	------------
Impairment
At 1 April 2024 as restated and 31 March 2025	–
	------------

Carrying amount
At 31 March 2025	2,477,521
	------------
At 31 March 2024	2,367,601
	------------

8. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	91,512	( 18,643)
Other debtors	383,742	306,626
	---------	---------
	475,254	287,983
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Trade creditors	64,358	65,787
Corporation tax	141,511	136,535
Social security and other taxes	2,956	1,002
Other creditors	107,827	115,286
	---------	---------
	316,652	318,610
	---------	---------

10. Prior period errors

In previous periods the Investments were shown at cost whereas they should have been shown at fair value. This has now been corrected and the comparatives have been restated.

11. Related party transactions

The company was under the control of Mr Harishkumar H Haria throughout the current and previous year. Mr Harishkumar H Haria is the managing director and majority shareholder.