CQRS Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08521440 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

CQRS Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTORS:

R F Davies

Q C M Solt

J de Cock

REGISTERED OFFICE:

Brimpton Mill

Brimpton Road

Brimpton

Reading

Berkshire

RG7 4SG

REGISTERED NUMBER:

08521440 (England and Wales)

ACCOUNTANTS:

D. A. Locke & Co, Chartered Accountants

Stoke Bruerne

Northamptonshire

NN12 7SF

FIXED ASSETS

Tangible assets

4

-

417

Investments

5

572,885

1,157,911

572,885

1,158,328

CURRENT ASSETS

Debtors

6

63,679

74,007

Investments

7

12,500

-

Cash at bank and in hand

25,596

5,513

101,775

79,520

CREDITORS

Amounts falling due within one year

8

99,552

70,352

NET CURRENT ASSETS

2,223

9,168

TOTAL ASSETS LESS CURRENT LIABILITIES

575,108

1,167,496

CREDITORS

Amounts falling due after more than one year

9

(213,362

)

(200,462

)

PROVISIONS FOR LIABILITIES

(75,677

)

(186,911

)

NET ASSETS

286,069

780,123

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Share premium

31,139

31,139

Retained earnings

253,730

747,784

286,069

780,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

R F Davies - Director

1.	STATUTORY INFORMATION

CQRS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Initial measurement

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery etc - 25% on cost or 33% on cost, depending on the asset concerned.

Impairment of fixed assets

At each reporting period end, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

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 balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less and bank over drafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and bank and cash balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Unlisted fixed asset investments are stated in the balance sheet at fair value, as determined by the directors, based on the most recent price at which investors subscribed for shares in the company concerned.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the individual financial arrangements entered into. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, in which case the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due in one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Exceptional items

Exceptional items are those which in the opinion of the directors are of such a nature as to affect a proper understanding of the financial statements were they to be reported as part of operating profit. Exceptional items are stated net of their tax effect as part of other comprehensive income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

11,523

DEPRECIATION

At 1 July 2020

11,107

Charge for year

416

At 30 June 2021

11,523

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

416

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 July 2020

1,157,911

Impairments

(585,026

)

At 30 June 2021

572,885

NET BOOK VALUE

At 30 June 2021

572,885

At 30 June 2020

1,157,911

Cost or valuation at 30 June 2021 is represented by:

Other

investments

£

Valuation in 2016

222,919

Valuation in 2017

186,687

Valuation in 2018

190,983

Valuation in 2019

602,384

Valuation in 2020

(45,062

)

Valuation in 2021

(585,026

)

572,885

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

63,679

67,016

Other debtors

-

6,991

63,679

74,007

7.	CURRENT ASSET INVESTMENTS

30.6.21

30.6.20

£

£

Unlisted investments

12,500

-

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade creditors

15,856

6,011

Taxation and social security

28,056

33,761

Other creditors

55,640

30,580

99,552

70,352

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Other creditors

213,362

200,462

Creditors due after more than one year are unsecured loans. Of the total, £60,000 (2020: £60,000) are term loans. The terms of the loans provide that they may be repaid on thirteen months' notice if a majority of the lenders so request but that no part of the loans may be repaid if such payment would result in the company being in breach of any regulatory capital requirement. Loan interest is payable at the company's discretion.

The remainder of the loans are repayable at a future date not less than twelve months following the date of approval of these financial statements. Loan interest is payable at the company's discretion.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CQRS Limited for the year ended 30 June 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CQRS Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CQRS Limited and state those matters that we have agreed to state to the Board of Directors of CQRS Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CQRS Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CQRS Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of CQRS Limited. You consider that CQRS Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CQRS Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

D. A. Locke & Co, Chartered Accountants

Stoke Bruerne

Northamptonshire

NN12 7SF

10 October 2021