QC Engineering Group Limited - Period Ending 2021-10-31

QC Engineering Group Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 5

QC Engineering Group Limited

Balance Sheet

31 October 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	8,130	10,030
Creditors: Amounts falling due within one year	5	-	(1,900)
Net assets		8,130	8,130
Capital and reserves
Called up share capital	6	30	30
Profit and loss account		8,100	8,100
Shareholders' funds		8,130	8,130

QC Engineering Group Limited

Balance Sheet

31 October 2021

For the financial year ending 31 October 2021 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 July 2022
 

......................................... Mr T Russell Director

Company Registration Number: 10990578

QC Engineering Group Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2021

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
Devon
PL4 0RA
United Kingdom

The principal place of business is:
The Bungalow
Unit 12
Galileo Close
Plympton
Devon
PL7 4JW
United Kingdom

These financial statements were authorised for issue by the director on 28 July 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

QC Engineering Group Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2021

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Debtors

Current	Note	2021 £	2020 £
Amounts owed by related parties		8,100	10,000
Other debtors		30	30

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Corporation tax	-	1,900

QC Engineering Group Limited

Notes to the Unaudited Financial Statements

Year Ended 31 October 2021

6	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary A shares of £1 each	15	15	15	15
Ordinary B shares of £1 each	15	15	15	15
	30	30	30	30