Quality Assured Valeting (Holdings) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09247822 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

QUALITY ASSURED VALETING

(HOLDINGS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G D Ridgway

Mr T Rix

Mr K Churchill

Mr A J Welsh

REGISTERED OFFICE:

Unit 2 Grange Farm Business Park

Grange Road

Hugglescote

Leicestershire

LE67 2BT

REGISTERED NUMBER:

09247822 (England and Wales)

FIXED ASSETS

Investments

4

2,725,158

2,725,158

CURRENT ASSETS

Debtors

5

100

100

CREDITORS

Amounts falling due within one year

6

1,989,084

2,344,804

NET CURRENT LIABILITIES

(1,988,984

)

(2,344,704

)

TOTAL ASSETS LESS CURRENT LIABILITIES

736,174

380,454

CREDITORS

Amounts falling due after more than one year

7

702,537

352,929

NET ASSETS

33,637

27,525

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

33,537

27,425

SHAREHOLDERS' FUNDS

33,637

27,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 7 March 2019 and were signed on its behalf by:

Mr K Churchill - Director

Mr T Rix - Director

Mr A J Welsh - Director

Mr G D Ridgway - Director

1.	STATUTORY INFORMATION

Quality Assured Valeting (Holdings) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling (£).

RELATED PARTY EXEMPTION

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 wholly owned subsidiaries within the group.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

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.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective

interest method, less any impairment.

CREDITORS

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans,

are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost

using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 4 ).

4.	FIXED ASSET INVESTMENTS

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

100

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

282,212

-

Amounts owed to group undertakings

1,654,759

1,823,397

Taxation and social security

3,733

6,379

Other creditors

48,380

515,028

1,989,084

2,344,804

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

702,537

-

Other creditors

-

352,929

702,537

352,929

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

984,749

-

The bank loans are secured with a fixed and floating charge over the group assets.