Company Registration No. 07321223 (England and Wales)
Quicktest Scientific Limited
Unaudited accounts
for the year ended 31 July 2019
Quicktest Scientific Limited
Unaudited accounts
Contents
Quicktest Scientific Limited
Company Information
for the year ended 31 July 2019
Director
Raphael David Katz
Company Number
07321223 (England and Wales)
Registered Office
Building 6
30 Friern Park
London
N12 9DA
Quicktest Scientific Limited
Statement of financial position
as at 31 July 2019
Intangible assets
88,000
96,000
Tangible assets
2,896
2,870
Cash at bank and in hand
20,918
9,438
Creditors: amounts falling due within one year
(12,545)
(33,553)
Net current assets
65,097
45,861
Total assets less current liabilities
155,993
144,731
Creditors: amounts falling due after more than one year
(102,000)
(102,000)
Called up share capital
1
1
Profit and loss account
53,992
42,730
Shareholders' funds
53,993
42,731
For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 9 March 2020.
Raphael David Katz
Director
Company Registration No. 07321223
Quicktest Scientific Limited
Notes to the Accounts
for the year ended 31 July 2019
Quicktest Scientific Limited is a private company, limited by shares, registered in England and Wales, registration number 07321223. The registered office is Building 6, 30 Friern Park, London, N12 9DA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
25% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation on intangible fixed assets is charged over 20 years.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
4
Intangible fixed assets
Goodwill
Quicktest Scientific Limited
Notes to the Accounts
for the year ended 31 July 2019
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2018
21,102
5,278
-
26,380
At 31 July 2019
21,102
5,278
1,168
27,548
At 1 August 2018
18,408
5,102
-
23,510
Charge for the year
674
176
292
1,142
At 31 July 2019
19,082
5,278
292
24,652
At 31 July 2019
2,020
-
876
2,896
At 31 July 2018
2,694
176
-
2,870
Finished goods
56,000
66,300
Accrued income and prepayments
-
2,586
8
Creditors: amounts falling due within one year
2019
2018
Trade creditors
3,917
16,121
Taxes and social security
5,535
2,205
Loans from directors
357
9,592
9
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
102,000
102,000
10
Average number of employees
During the year the average number of employees was 13 (2018: 15).
