All About Quality Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05326843 (England and Wales)

ALL ABOUT QUALITY LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Page

Company Information

1

Abridged Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

O O'Connor

M Okamoto

I Martinez

REGISTERED OFFICE:

County Hall

Riverside Buildings

Westminster Bridge

London

SE1 7PB

REGISTERED NUMBER:

05326843 (England and Wales)

AUDITORS:

Wags LLP t/a Wagstaffs

Chartered Accountants and Statutory Auditors

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

FIXED ASSETS

Property, plant and equipment

5

-

-

Investments

6

14,653,023

15,417,919

14,653,023

15,417,919

CURRENT ASSETS

Debtors

7

22,681,829

21,407,037

Cash at bank

2,528,887

2,534,389

25,210,716

23,941,426

CREDITORS

Amounts falling due within one year

(13,918,098

)

(13,250,056

)

NET CURRENT ASSETS

11,292,618

10,691,370

TOTAL ASSETS LESS CURRENT LIABILITIES

25,945,641

26,109,289

CREDITORS

Amounts falling due after more than one year

8

(10,643,430

)

(10,137,756

)

NET ASSETS

15,302,211

15,971,533

CAPITAL AND RESERVES

Called up share capital

9

28,000,000

28,000,000

Retained earnings

(12,697,789

)

(12,028,467

)

SHAREHOLDERS' FUNDS

15,302,211

15,971,533

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 Statement of Financial Position for the year ended 31st December 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 16th August 2021 and were signed on its behalf by:

O O'Connor - Director

1.	STATUTORY INFORMATION

All About Quality 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about All About Quality Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, London Sky Garden Limited, Riverside Building County Hall, Westminster Bridge Road, London, United Kingdom, SE1 7PB.

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.

Significant judgements and estimates

In the application of the company's accounting policies, which are described below, management is required to make judgements estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

- Useful Economic Life of Tangible Assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.

Property, plant and equipment

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

Fixtures and fittings

-

33% on cost and 20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Tax

Tax 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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 the income statement in the period to which they relate.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st January 2020

and 31st December 2020

13,899

Depreciation

At 1st January 2020

and 31st December 2020

13,899

Net book value

At 31st December 2020

-

At 31st December 2019

-

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

Cost

At 1st January 2020

28,891,019

Exchange differences

342,443

At 31st December 2020

29,233,462

Provisions

At 1st January 2020

13,473,100

Charge for year

1,107,339

At 31st December 2020

14,580,439

Net book value

At 31st December 2020

14,653,023

At 31st December 2019

15,417,919

7.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

13,480,360

13,272,207

Amounts owed by connected companies

4,859,209

4,593,907

18,339,569

17,866,114

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2020

2019

£

£

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

8,344,603

7,889,007

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

28,000,000

Ordinary

£1

28,000,000

28,000,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Hubbocks (Senior Statutory Auditor)

for and on behalf of Wags LLP t/a Wagstaffs

11.	RELATED PARTY DISCLOSURES

Included within creditors falling due after more than one year is £9,494,257 (2019: £9,004,939) relating to a directors' loan account in favour of O O'Connor.

Included within creditors falling due within one year is an amount of £1,824,093 (2019: £1,844,512) relating to a directors' loan account in favour of M Okamoto.

There are no formal repayment terms agreed on the above loans and are interest free.

Included in debtors due after more than one year is £4,859,209 (2019: £4,593,907) due from Ozu Limited, a company incorporated in England and Wales in which County Hall Entertainment Limited is interested as shareholder and O O'Connor is director. Additionally, amounts due to Ozu Limited are shown within creditors falling due within one year of £78,998 (2019: £72,972) and creditors falling due after more than five years of £2,298,827 (2019: £2,248,749).

12.	ULTIMATE CONTROLLING PARTY

London Sky Garden Limited is regarded by the directors as being the company's ultimate controlling party and is the smallest and largest company which includes the company within its consolidated financial statements. These are available at London Sky Garden Limited, Riverside Building, County Hall, Westminster Bridge, London, SE1 7PB.