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REGISTERED NUMBER: SC621679 (Scotland)















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Quality Alliance International Ltd

Quality Alliance International Ltd (Registered number: SC621679)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quality Alliance International Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr J P Hamilton
Mr S Minty





REGISTERED OFFICE: 42 Queens Road
Aberdeen
AB15 4YE





REGISTERED NUMBER: SC621679 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Quality Alliance International Ltd (Registered number: SC621679)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 613 64

CURRENT ASSETS
Debtors 5 11,123 3,764
Cash at bank 54,211 36,094
65,334 39,858
CREDITORS
Amounts falling due within one year 6 37,155 12,939
NET CURRENT ASSETS 28,179 26,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,792

26,983

CREDITORS
Amounts falling due after more than one
year

7

(6,042

)

(8,542

)

PROVISIONS FOR LIABILITIES (116 ) -
NET ASSETS 22,634 18,441

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 22,534 18,341
22,634 18,441

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Quality Alliance International Ltd (Registered number: SC621679)

Balance Sheet - continued
28 February 2023


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 20 September 2023 and were signed on its behalf by:





Mr J P Hamilton - Director


Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Quality Alliance International Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.
Computer equipment - 33% on cost

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 (2022 - 2 ) .

Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2022 379
Additions 915
At 28 February 2023 1,294
DEPRECIATION
At 1 March 2022 315
Charge for year 366
At 28 February 2023 681
NET BOOK VALUE
At 28 February 2023 613
At 28 February 2022 64

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 9,745 3,000
Other debtors 1,378 764
11,123 3,764

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 2,500 2,500
Trade creditors 6,892 3,060
Taxation and social security 24,141 -
Other creditors 3,622 7,379
37,155 12,939

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 6,042 8,542

Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
Mr J P Hamilton
Balance outstanding at start of year (2,014 ) (2,400 )
Amounts advanced 3,437 2,400
Amounts repaid (1,958 ) (2,014 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (535 ) (2,014 )

Mr S Minty
Balance outstanding at start of year (1,901 ) (1,304 )
Amounts advanced 3,137 1,304
Amounts repaid (1,925 ) (1,901 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (689 ) (1,901 )

9. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the year.