Qumin Limited - Accounts to registrar (filleted) - small 18.2
Qumin Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 April 2021 |
| for |
| Qumin Limited |
| Qumin Limited (Registered number: 08032811) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Qumin Limited |
| Company Information |
| for the Year Ended 30 April 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Technology Park |
| Colindeep Lane |
| Colindale |
| London |
| NW9 6BX |
| Qumin Limited (Registered number: 08032811) |
| Statement of Financial Position |
| 30 April 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| 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. |
| Qumin Limited (Registered number: 08032811) |
| Statement of Financial Position - continued |
| 30 April 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Qumin Limited (Registered number: 08032811) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2021 |
| 1. | STATUTORY INFORMATION |
| Qumin Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Qumin Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents invoiced sale of services, excluding value added tax. Income is recognised at the point of delivery. |
| Tangible fixed assets |
| Short leasehold | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Government grants |
| The company recognises government grants received relating to the Coronavirus Job Retention Scheme on an accrual basis. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans with banks, other third parties and related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Debtors |
| Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, are recognised at transaction price. |
| Qumin Limited (Registered number: 08032811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Research and development |
| Expenditure on research is written off in the year in which it is incurred. |
| Development expenditure is capitalised from the point that all recognition criterion are met. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Qumin Limited (Registered number: 08032811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | and | Computer |
| leasehold | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 May 2020 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 April 2021 |
| DEPRECIATION |
| At 1 May 2020 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 April 2021 |
| NET BOOK VALUE |
| At 30 April 2021 |
| At 30 April 2020 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2020 |
| and 30 April 2021 |
| NET BOOK VALUE |
| At 30 April 2021 |
| At 30 April 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' current accounts | 81,992 | 55,952 |
| Prepayments and accrued income |
| Qumin Limited (Registered number: 08032811) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans due after more than five years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due after more than five years | 50,000 | - |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 April 2021 and 30 April 2020: |
| 2021 | 2020 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged at 2.5% on the directors' overdrawn current accounts where appropriate. |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with subsidiaries within the group. |