Company Registration No. 12458929 (England and Wales)
Quality Auto Ltd
Unaudited accounts
for the year ended 28 February 2022
Quality Auto Ltd
Unaudited accounts
Contents
Quality Auto Ltd
Company Information
for the year ended 28 February 2022
Director
Sharif Mohamed Sarwar
Company Number
12458929 (England and Wales)
Registered Office
96 The Crescent
Harlington
Hayes
Middlesex
UB3 5NB
England
Accountants
SAMI & CO ACCOUNTANTS
48 BILTON ROAD
PERIVALE
MIDDLESEX
UB6 7DH
Quality Auto Ltd
Statement of financial position
as at 28 February 2022
Tangible assets
1,499
1,665
Cash at bank and in hand
7,074
2,542
Creditors: amounts falling due within one year
(2,514)
(1,992)
Net current assets
33,860
36,773
Total assets less current liabilities
35,359
38,438
Creditors: amounts falling due after more than one year
(26,934)
(37,766)
Profit and loss account
8,325
572
Shareholders' funds
8,425
672
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 September 2022 and were signed on its behalf by
Sharif Mohamed Sarwar
Director
Company Registration No. 12458929
Quality Auto Ltd
Notes to the Accounts
for the year ended 28 February 2022
Quality Auto Ltd is a private company, limited by shares, registered in England and Wales, registration number 12458929. The registered office is 96 The Crescent , Harlington, Hayes, Middlesex, UB3 5NB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10% reducing Balance
Computer equipment
10% reducing balance
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2021
850
1,000
1,850
At 28 February 2022
850
1,000
1,850
At 1 March 2021
85
100
185
Charge for the year
76
90
166
At 28 February 2022
161
190
351
At 28 February 2022
689
810
1,499
At 28 February 2021
765
900
1,665
Quality Auto Ltd
Notes to the Accounts
for the year ended 28 February 2022
5
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
1,794
1,272
Corporation Tax £347
Accountancy Fees £600
Directors Loan Account £37766
6
Creditors: amounts falling due after more than one year
2022
2021
Loans from directors
26,934
37,766
7
Average number of employees
During the year the average number of employees was 0 (2021: 0).