QUALITY ONIONS LTD

QUALITY ONIONS LTD

QUALITY ONIONS LTD - Company Information

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QUALITY ONIONS LTD

Company Registration Number:
09280399 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2019

Period of accounts

Start date: 01 November 2018

End date: 31 October 2019

QUALITY ONIONS LTD

Contents of the Financial Statements

for the Period Ended 31 October 2019

Balance sheet
Notes

QUALITY ONIONS LTD

Balance sheet

As at 31 October 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 370,500 370,500
Total fixed assets: 370,500 370,500
Current assets
Debtors:   2,399
Cash at bank and in hand: 41,371 31,134
Total current assets: 43,770 31,134
Creditors: amounts falling due within one year:   (5,346) (6,299)
Net current assets (liabilities): 38,424 24,835
Total assets less current liabilities: 408,924 395,335
Creditors: amounts falling due after more than one year:   (375,000) (375,000)
Total net assets (liabilities): 33,924 20,335
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 33,923 20,334
Shareholders funds: 33,924 20,335

The notes form part of these financial statements

QUALITY ONIONS LTD

Balance sheet statements

For the year ending 31 October 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 October 2020
and signed on behalf of the board by:

Name: Mr M Ali
Status: Director

The notes form part of these financial statements

QUALITY ONIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

QUALITY ONIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2019

2. Employees

2019 2018
Average number of employees during the period 0 0

QUALITY ONIONS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2019

3. Tangible Assets

Total
Cost £
At 01 November 2018 370,500
At 31 October 2019 370,500
Net book value
At 31 October 2019 370,500
At 31 October 2018 370,500