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

REGISTERED NUMBER: 10078287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2018 TO 30 APRIL 2019

FOR

QUIKSWITCH LIMITED

Page

Company information

1

Report of the accountants

2

Balance sheet

3

Notes to the financial statements

5

Director:

Rehan Ahmed

Registered office:

14 Derby Road

Stapleford

Nottingham

NG9 7AA

Registered number:

10078287 (England and Wales)

Accountants:

Shipleys Tax Planning Ltd

Chartered Tax Advisers

Wharf House

Victoria Quays

Wharf Street

Sheffield

South Yorkshire

S2 5SY

The following reproduces the text of the report prepared for the director 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 director 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 Quikswitch Limited for the period ended 31 March 2019 which

comprise the Profit and loss account, the Balance sheet and the related notes from the Company

accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of Quikswitch Limited, as a body, in accordance

with the terms of our agreement. Our work has been undertake solely to prepare for your approval the

financial statements of Quikswitch Limited and state those matters that we have agreed to state to

them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept

or assume responsibility to anyone other than Quikswitch Limited and its Board of Directors, as a

body, for our work or for this report.

It is your duty to ensure that Quikswitch Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the Company's assets and liabilities,

financial position and profit. You consider that Quikswitch Limited is exempt from the statutory audit

requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Quikswitch

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.

Shipleys Tax Planning Ltd

31 December 2019

FIXED ASSETS

Tangible assets

3

2,080

4,160

CURRENT ASSETS

Debtors

4

1,550

1,743

Cash at bank

352

450

1,902

2,193

CREDITORS

Amounts falling due within one year

5

4,415

44,008

NET CURRENT LIABILITIES

(2,513

)

(41,815

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(433

)

(37,655

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(1,433

)

(38,655

)

(433

)

(37,655

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 31 December 2019 and were signed by:

Rehan Ahmed - Director

1.	STATUTORY INFORMATION

Quikswitch 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.

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

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

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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

period 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.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 April 2018

and 30 April 2019

6,240

Depreciation

At 1 April 2018

2,080

Charge for period

2,080

At 30 April 2019

4,160

Net book value

At 30 April 2019

2,080

At 31 March 2018

4,160

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

162

125

Other debtors

1,388

1,618

1,550

1,743

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

2,991

Taxation and social security

2,945

482

Other creditors

1,470

40,535

4,415

44,008

6.	RELATED PARTY DISCLOSURES

At the year end a balance of £54,366 (2018: £39,995) owed to K L Business Solutions Limited,

a connected company of Mr R Ahmed was written off.