Quality Events Limited - Accounts to registrar (filleted) - small 22.3

Quality Events Limited - Accounts to registrar (filleted) - small 22.3

QUALITY EVENTS LIMITED - Company Information

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REGISTERED NUMBER: 07976710 (England and Wales)









Financial Statements

for the Year Ended 31 March 2022

for

Quality Events Limited
Quality Events Limited (Registered number: 07976710)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Quality Events Limited

Company Information
for the Year Ended 31 March 2022







DIRECTORS: K Musson
D J Musson





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 07976710 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR
1
Quality Events Limited (Registered number: 07976710)

Balance Sheet
31 March 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Stocks 75,000 40,000
Debtors 4 10,000 1,326
Cash at bank 175,801 75,683
260,801 117,009
CREDITORS
Amounts falling due within one year 5 (95,811 ) (36,261 )
NET CURRENT ASSETS 164,990 80,748
TOTAL ASSETS LESS CURRENT
LIABILITIES
164,990
80,748

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,890 80,648
SHAREHOLDERS' FUNDS 164,990 80,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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 Board of Directors and authorised for issue on 23 December 2022 and were signed on its behalf by:





D J Musson - Director


The notes form part of these financial statements

2
Quality Events Limited (Registered number: 07976710)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Quality Events 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income is recognised when the service is provided.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 10,000 1,326

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 38,102 -
Other creditors 57,709 36,261
95,811 36,261

3 continued...
Quality Events Limited (Registered number: 07976710)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. RELATED PARTY DISCLOSURES

Included within other creditors at the year end is an aggregate amount of £54,959 (2021: £33,849) due to the directors D J Musson and K Musson which has been provided unsecured, interest free and is repayable on demand.

4