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REGISTERED NUMBER: 03252754 (England and Wales)















QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: Mr R Andrew
Mr D T Funnell





SECRETARY:





REGISTERED OFFICE: 28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB





REGISTERED NUMBER: 03252754 (England and Wales)





ACCOUNTANTS: Weaver Wroot
28 Dudley Street
Grimsby
N E Lincolnshire
DN31 2AB

QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

BALANCE SHEET
28TH FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,106 38,238

CURRENT ASSETS
Stocks 46,554 30,007
Debtors 5 152,248 138,492
Cash at bank and in hand 98,855 146,943
297,657 315,442
CREDITORS
Amounts falling due within one year 6 173,653 101,600
NET CURRENT ASSETS 124,004 213,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,110

252,080

PROVISIONS FOR LIABILITIES 25,588 6,701
NET ASSETS 235,522 245,379

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 10 10
Retained earnings 235,412 245,269
SHAREHOLDERS' FUNDS 235,522 245,379

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th October 2023 and were signed on its behalf by:





Mr R Andrew - Director


QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Quality Machining Services (Grimsby) 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. 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.
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Motor vehicles - Straight line over 5 years

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

QUALITY MACHINING SERVICES (GRIMSBY)
LIMITED (REGISTERED NUMBER: 03252754)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st March 2022 46,994 193,667 36,575 277,236
Additions - 107,245 - 107,245
At 28th February 2023 46,994 300,912 36,575 384,481
DEPRECIATION
At 1st March 2022 46,994 158,131 33,873 238,998
Charge for year - 7,026 1,351 8,377
At 28th February 2023 46,994 165,157 35,224 247,375
NET BOOK VALUE
At 28th February 2023 - 135,755 1,351 137,106
At 28th February 2022 - 35,536 2,702 38,238

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 149,518 135,779
Other debtors 2,730 2,713
152,248 138,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 124,715 36,761
Taxation and social security 22,012 51,104
Other creditors 26,926 13,735
173,653 101,600