Quality Mouldings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07329745 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

FOR

QUALITY MOULDINGS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr L J Couzens

Mr M Pinhorne

REGISTERED OFFICE:

The Ivy House

1 Folly Lane

Petersfield

Hampshire

GU31 4AU

REGISTERED NUMBER:

07329745 (England and Wales)

ACCOUNTANTS:

Wallis White & Co

Accountants and Tax Consultants

The Ivy House

1 Folly Lane

Petersfield

Hampshire

GU31 4AU

FIXED ASSETS

Tangible assets

4

8,029

8,519

CURRENT ASSETS

Stocks

11,569

10,960

Debtors

45,513

35,146

Cash at bank

300,120

234,822

357,202

280,928

CREDITORS

Amounts falling due within one year

118,065

69,736

NET CURRENT ASSETS

239,137

211,192

TOTAL ASSETS LESS CURRENT LIABILITIES

247,166

219,711

PROVISIONS FOR LIABILITIES

1,526

1,619

NET ASSETS

245,640

218,092

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

245,637

218,089

SHAREHOLDERS' FUNDS

245,640

218,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2020 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 and authorised for issue on 27 May 2021 and were signed on its behalf by:

Mr L J Couzens - Director

Mr M Pinhorne - Director

1.	STATUTORY INFORMATION

Quality Mouldings Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 year was 8 (2019 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2019

22,254

Additions

1,228

At 31 August 2020

23,482

DEPRECIATION

At 1 September 2019

13,735

Charge for year

1,718

At 31 August 2020

15,453

NET BOOK VALUE

At 31 August 2020

8,029

At 31 August 2019

8,519