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

REGISTERED NUMBER: 12065487 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

QUALITY BALUSTRADES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

66,006

63,005

CURRENT ASSETS

Stocks

30,000

30,000

Debtors

5

72,694

2,679

Cash at bank

1

13

102,695

32,692

CREDITORS

Amounts falling due within one year

6

248,914

120,262

NET CURRENT LIABILITIES

(146,219

)

(87,570

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(80,213

)

(24,565

)

CREDITORS

Amounts falling due after more than one year

7

11,944

16,000

NET LIABILITIES

(92,157

)

(40,565

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(92,158

)

(40,566

)

SHAREHOLDERS' FUNDS

(92,157

)

(40,565

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 4 April 2023 and were signed on its behalf by:

B Mander - Director

1.	STATUTORY INFORMATION

Quality Balustrades Limited is a private company, limited by shares, registered in England and Wales, registered number 12065487. Its registered office is Unit 2, Winchester Works, Malt Mill Lane, Halesowen, West Midlands, B62 8JF.

The financial statements are presented in Sterling, which is the functional currency of the company.

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 etc

-

25% on reducing balance, 20% on reducing balance and 10% on cost

Stocks

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

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.

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.

Going concern

The accounts have been drawn up on the going concern basis. The company's ongoing activities are dependent upon the continued support of its other loan creditors, who have undertaken that this support will be given for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2021

75,173

Additions

15,500

At 30 June 2022

90,673

DEPRECIATION

At 1 July 2021

12,168

Charge for year

12,499

At 30 June 2022

24,667

NET BOOK VALUE

At 30 June 2022

66,006

At 30 June 2021

63,005

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

61,751

(1,457

)

Other debtors

10,943

4,136

72,694

2,679

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

4,151

4,000

Trade creditors

127,010

40,153

Taxation and social security

2,431

500

Other creditors

115,322

75,609

248,914

120,262

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans

11,944

16,000

8.	RELATED PARTY DISCLOSURES

The company is party to loans from the shareholder and parties related to them. At the balance sheet date the amounts owed to these related parties was £110,360 (2021 - £74,109).