Marketing Quality Assurance Limited - Accounts to registrar (filleted) - small 18.2
Marketing Quality Assurance Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2020 |
for |
Marketing Quality Assurance Limited |
Marketing Quality Assurance Limited (Registered number: 02749419) |
Contents of the Financial Statements |
for the Year Ended 30 September 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Marketing Quality Assurance Limited |
Company Information |
for the Year Ended 30 September 2020 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Marketing Quality Assurance Limited (Registered number: 02749419) |
Abridged Balance Sheet |
30 September 2020 |
30.9.20 | 30.9.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Marketing Quality Assurance Limited (Registered number: 02749419) |
Notes to the Financial Statements |
for the Year Ended 30 September 2020 |
1. | STATUTORY INFORMATION |
Marketing Quality Assurance Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has reported a loss in the period to 30 September 2020 due to the difficult trading situation from the outbreak of COVID 19 halfway through the accounting year. The directors are of the opinion that the company will be able to return to a profit making situation and therefore they have indicated that they are prepared to assist the company with the working capital requirements allowing the company to meet its debts as they fall due. |
For the above reasons the directors are of the opinion that the company will continue to trade for the foreseeable future and have prepared the accounts on the going concern basis. |
Turnover |
Turnover represents net invoiced charges, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Financial instruments |
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Marketing Quality Assurance Limited (Registered number: 02749419) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2020 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2019 |
Disposals | ( |
) |
At 30 September 2020 |
DEPRECIATION |
At 1 October 2019 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2020 |
NET BOOK VALUE |
At 30 September 2020 |
At 30 September 2019 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.20 | 30.9.19 |
£ | £ |
Bank overdrafts |
Bank borrowing is secured by a fixed and floating charge over the company's assets and personal guarantees given by the directors. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.20 | 30.9.19 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |