REACT Quality Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07396279 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 FEBRUARY 2018 TO 31 DECEMBER 2018

FOR

REACT QUALITY MANAGEMENT LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Jurgens-Mestre

B Leblanc

M Rambaud

REGISTERED OFFICE:

Grenadier House

1625 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

REGISTERED NUMBER:

07396279 (England and Wales)

BANKERS:

Lloyds Bank plc

22 Bridge Street

Stratford-Upon-Avon

Warwickshire

CV37 6AG

FIXED ASSETS

Tangible assets

4

27,828

33,326

CURRENT ASSETS

Debtors

1,444,214

2,931,526

Cash at bank

147,538

-

1,591,752

2,931,526

CREDITORS

Amounts falling due within one year

1,341,258

2,724,196

NET CURRENT ASSETS

250,494

207,330

TOTAL ASSETS LESS CURRENT LIABILITIES

278,322

240,656

PROVISIONS FOR LIABILITIES

5,287

-

NET ASSETS

273,035

240,656

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

273,034

240,655

SHAREHOLDERS' FUNDS

273,035

240,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 5 August 2019 and were signed on its behalf by:

D Jurgens-Mestre - Director

1.	STATUTORY INFORMATION

REACT Quality Management 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 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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year.

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 comprises the value of sales (net of value added tax) of services provided in the normal course of

business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

Tangible fixed assets

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

Plant & machinery

-

10% on cost

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the income statement.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet 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 period was 70 (2018 - 90 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2018

and 31 December 2018

54,976

DEPRECIATION

At 1 February 2018

21,650

Charge for period

5,498

At 31 December 2018

27,148

NET BOOK VALUE

At 31 December 2018

27,828

At 31 January 2018

33,326

5.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2018

£

£

Bank overdrafts

-

305,711

The director has provided security to the bank for these items.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2018

value:

£

£

1

Ordinary

£1

1

1

7.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The pension charge represents contributions due

from the company and amounted to £15,774 (2018 - £9,687).

At the balance sheet date, unpaid contributions of £3,006 (2018 - £3,705) were due to the fund. They are

included in other creditors.

8.	RELATED PARTY DISCLOSURES

The key management are considered to be the directors, whose remuneration totalled £nil (2018 - £nil).

9.	ULTIMATE PARENT COMPANY

Trigo Western Europe (incorporated in France) is regarded by the directors as being the company's ultimate

parent company. The register office for the company is as follows;

4 Avenue Pablo Picasso

Nanterre

Paris

France

92000