Company Registration No. 6129944 (England and Wales)
QUALITY PAVING AND DRIVEWAYS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
QUALITY PAVING AND DRIVEWAYS LTD
COMPANY INFORMATION
Director
M J Connors
Secretary
M Connors
Company number
6129944
Registered office
Haslingfield
The Cartagena Estate
Broxbourne
Herts
EN10 6TA
QUALITY PAVING AND DRIVEWAYS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2
QUALITY PAVING AND DRIVEWAYS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
Company information
Quality Paving and driveways Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Haslingfield, The Cartagena Estate, Broxbourne, Herts, EN10 6TA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
QUALITY PAVING AND DRIVEWAYS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
2
11
15
Current assets
Stock and work in progress
1,030
1,350
Cash at bank and in hand
17,242
30,328
18,272
31,678
Creditors: amounts falling due within one year
3
(9,623)
(21,398)
Net current assets
8,649
10,280
Total assets less current liabilities
8,660
10,295
Capital and reserves
Called up share capital
4
1
1
Profit and loss reserves
8,659
10,294
Total equity
8,660
10,295
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Director's responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 17 November 2023
M J Connors
Director
Company Registration No. 6129944
QUALITY PAVING AND DRIVEWAYS LTD
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023
28 February 2023
- 2 -
2
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 and 28 February 2023
1,140
Depreciation and impairment
At 1 March 2022
1,125
Depreciation charged in the year
4
At 28 February 2023
1,129
Carrying amount
At 28 February 2023
11
At 28 February 2022
15
3
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,736
6,772
Corporation tax
789
1,628
Other creditors
7,098
12,998
9,623
21,398
4
Called up share capital
2023
2022
£
£
Ordinary share capital
Authorised
100 Ordinary of £1 each
100
100
Issued and fully paid
1 Ordinary of £1 each
1
1