General information
Q&Q Builders Ltd is a private company limited by shares, incorporated in England and Wales (registered number 15929928). The registered office is 7 Benwell Grange Terrace, Newcastle Upon Tyne, England, NE15 6RL. The principal activity of the company is property development, residential construction and the buying and selling of its own real estate.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, the Financial Reporting Standard applicable in the UK and Republic of Ireland for small entities, and the Companies Act 2006, including the provisions of the small companies regime.
Basis of preparation
The financial statements have been prepared under the historical cost convention, in accordance with the accounting policies set out below, which have been applied consistently throughout the year and the preceding period.
The financial statements are presented in pounds sterling, which is the functional currency of the company, and are rounded to the nearest pound.
The comparative figures are for the period from 2 September 2024 to 30 September 2025, being the first accounting period of the company, and are therefore not entirely comparable with the current year.

The company made a loss of £5,270 for the year and had net liabilities of £5,101 at 30 September 2026. The director has assessed the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. The director has confirmed that he will continue to support the company and will not seek repayment of the £7,060 owed to him until the company has sufficient funds. On this basis the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and the going concern basis of accounting has been adopted in preparing the financial statements.

Turnover represents the fair value of the consideration received or receivable for building and construction work carried out during the year, excluding Value Added Tax and trade discounts. Turnover is recognised when the work has been completed and the company has obtained the right to consideration. Turnover from the sale of the company's own property is recognised on legal completion of the sale.

Cost of sales comprises the cost of materials and sub-contractor services used directly in carrying out construction work, and is recognised in the period in which the related turnover is recognised.

The tax expense or credit for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised directly in equity.
Current tax is the amount of corporation tax payable or recoverable in respect of the taxable profit or loss for the year, and is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Where a trading loss is carried back against the profits of an earlier period, the resulting tax repayment is recognised as a tax credit in the year in which the loss arises.
Deferred tax has not been recognised on the timing difference between depreciation and capital allowances on the motor vehicle, as the amount is not material. Current tax assets and liabilities are not discounted.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability when approved by the shareholders before the statement of financial position date.

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of each asset, less its estimated residual value, over its expected useful life. A full year's depreciation is charged in the year of acquisition and none in the year of disposal. The rates used are:

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Cash at bank comprises balances held in the company's current account.
Debtors, including amounts owed by the director, are basic financial assets. They are recognised initially at the transaction price and subsequently measured at amortised cost, less any impairment for amounts considered irrecoverable. Amounts owed by the director are repayable on demand and are not discounted.
Creditors, including taxation and social security and other creditors, are basic financial liabilities payable within one year. They are recognised initially at the transaction price and subsequently measured at the undiscounted amount of cash expected to be paid.
Financial assets and liabilities are offset, with the net amount presented in the financial statements, only when there is a legally enforceable right to set off the recognised amounts and an intention to settle on a net basis.