Querysum Limited - Period Ending 2021-01-31
Querysum Limited - Period Ending 2021-01-31
Registration number:
Querysum Limited
Chartered Accountants
Querysum Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Querysum Limited
Company Information
Directors |
Mr D C Elliott Mr G M Boult |
Company secretary |
Mrs K Hobbs |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Querysum Limitedfor the Year Ended 31 January 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Querysum Limited for the year ended 31 January 2021 as set out on pages 3 to 7 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Querysum Limited, as a body, in accordance with the terms of our engagement letter dated 8 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of Querysum Limited and state those matters that we have agreed to state to the Board of Directors of Querysum Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Querysum Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Querysum Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Querysum Limited. You consider that Querysum 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 accounts of Querysum 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 accounts.
Chartered Accountants
34 High East Street
Dorchester
Dorset
DT1 1HA
Querysum Limited
(Registration number: 06070101)
Balance Sheet as at 31 January 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
19,108 |
19,108 |
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Profit and loss account |
(43,347) |
(42,879) |
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Shareholders' deficit |
(24,239) |
(23,771) |
For the financial year ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Querysum Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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.
Going concern
The financial statements have been prepared on a going concern basis. The directors have considered the future of the business and the value of their trading contracts which they anticipate will be worth a sum in excess of their book value and will enable the company to continue as a going concern. The directors confirm they will continue to support the company to ensure it meets its debts as they fall due.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
3 year straight line basis |
Querysum Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2021
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Intellectual property |
3 year straight line basis |
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Querysum Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2021
Intangible assets |
Patents |
Total |
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Cost |
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At 1 February 2020 |
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At 31 January 2021 |
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Amortisation |
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At 1 February 2020 |
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At 31 January 2021 |
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Carrying amount |
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At 31 January 2021 |
- |
- |
Tangible fixed assets |
Plant and machinery |
Total |
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Cost |
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At 1 February 2020 |
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At 31 January 2021 |
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Depreciation |
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At 1 February 2020 |
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At 31 January 2021 |
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Carrying amount |
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At 31 January 2021 |
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At 31 January 2020 |
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Querysum Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2021
Debtors |
2021 |
2020 |
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Trade debtors |
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Other debtors |
- |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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- |
Other creditors |
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