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Unaudited Financial Statements for the Year Ended 31 July 2023

for

Quality and Compliance First Ltd

Quality and Compliance First Ltd (Registered number: SC481624)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Quality and Compliance First Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mrs K Robb





SECRETARY:





REGISTERED OFFICE: 50 Laurelhill Place
Stirling
FK8 2JJ





REGISTERED NUMBER: SC481624 (Scotland)





ACCOUNTANTS: D & A Pearston Ltd
Chartered Accountants
73 Stirling Business Centre
Wellgreen Place
Stirling
FK8 2DZ

Quality and Compliance First Ltd (Registered number: SC481624)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205 273

CURRENT ASSETS
Debtors 5 5,004 348
Cash at bank 11,363 22,479
16,367 22,827
CREDITORS
Amounts falling due within one year 6 14,653 11,837
NET CURRENT ASSETS 1,714 10,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,919

11,263

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 1,819 11,163
SHAREHOLDERS' FUNDS 1,919 11,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 9 November 2023 and were signed by:





Mrs K Robb - Director


Quality and Compliance First Ltd (Registered number: SC481624)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Quality and Compliance First 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.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 NIL (2022 - NIL).

Quality and Compliance First Ltd (Registered number: SC481624)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 1,380
DEPRECIATION
At 1 August 2022 1,107
Charge for year 68
At 31 July 2023 1,175
NET BOOK VALUE
At 31 July 2023 205
At 31 July 2022 273

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 5,004 348

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 1 -
Taxation and social security 1,577 3,404
Other creditors 13,075 8,433
14,653 11,837

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 ordinary 1 100 100

8. RESERVES
Retained
earnings
£   

At 1 August 2022 11,163
Profit for the year 6,656
Dividends (16,000 )
At 31 July 2023 1,819

Quality and Compliance First Ltd (Registered number: SC481624)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mrs K Robb
Balance outstanding at start of year (7,168 ) (12,994 )
Amounts advanced (4,605 ) 5,826
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,773 ) (7,168 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K Robb.