Registration number:
A Quality Service Ltd
for the Period from 1 April 2019 to 31 December 2019
A Quality Service Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
A Quality Service Ltd
Company Information
Directors |
Mr I K Crook Mr F P Caqueret Mr R J Kinrade Mrs G E Edwards Mrs D Cheesebrough |
Registered office |
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Accountants |
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A Quality Service Ltd
(Registration number: 07543597)
Balance Sheet as at 31 December 2019
Note |
31 December |
31 March |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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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 assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
101 |
2 |
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Profit and loss account |
1,931,972 |
1,495,915 |
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Shareholders' funds |
1,932,073 |
1,495,917 |
For the financial period ending 31 December 2019 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
.........................................
Director
A Quality Service Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tax
The tax expense for the period comprises current and deferred 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 income 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
A Quality Service Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
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 |
Plant and machinery |
25% on reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
A Quality Service Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2019 |
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Disposals |
( |
- |
- |
( |
At 31 December 2019 |
- |
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Depreciation |
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At 1 April 2019 |
- |
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Charge for the period |
- |
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At 31 December 2019 |
- |
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Carrying amount |
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At 31 December 2019 |
- |
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At 31 March 2019 |
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Included within the net book value of land and buildings above is £
nil (2019 - £165,000) in respect of freehold land and buildings.
Stocks |
31 December |
31 March |
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Stock |
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Debtors |
A Quality Service Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
31 December |
31 March |
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Trade debtors |
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Prepayments |
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Other debtors |
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A Quality Service Ltd
Notes to the Unaudited Financial Statements for the Period from 1 April 2019 to 31 December 2019
Creditors |
Creditors: amounts falling due within one year
31 December |
31 March |
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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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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
31 December |
31 March |
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No. |
£ |
No. |
£ |
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101.00 |
- |
- |
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- |
- |
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2 |
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Dividends |
Interim dividends paid
31 December |
31 March |
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Interim dividend of £
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Related party transactions |
Transactions with directors |
2019 |
At 1 April 2018 |
Repayments by director |
At 31 March 2019 |
Mrs G E Edwards |
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Current balance |
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( |
- |