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Company Registration No. SC657152 (Scotland)
QUALITY PARTS LTD Unaudited accounts for the year ended 31 March 2023
QUALITY PARTS LTD Unaudited accounts Contents
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QUALITY PARTS LTD Company Information for the year ended 31 March 2023
Directors
Romualdas Dabasinskas Tomas Keinys
Company Number
SC657152 (Scotland)
Registered Office
157 NORMAN RISE LIVINGSTON EH54 6NN SCOTLAND
Accountants
Eurofirma Ltd 59 Devons Road London E3 3DW
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QUALITY PARTS LTD Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
447,500 
250,200 
Debtors
8,113 
7,382 
Cash at bank and in hand
5,162 
6,629 
460,775 
264,211 
Creditors: amounts falling due within one year
(407,764)
(199,877)
Net current assets
53,011 
64,334 
Total assets less current liabilities
53,011 
64,334 
Creditors: amounts falling due after more than one year
(29,784)
(61,572)
Net assets
23,227 
2,762 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
23,127 
2,662 
Shareholders' funds
23,227 
2,762 
For the year ending 31 March 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by
Romualdas Dabasinskas Director Company Registration No. SC657152
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QUALITY PARTS LTD Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
QUALITY PARTS LTD is a private company, limited by shares, registered in Scotland, registration number SC657152. The registered office is 157 NORMAN RISE, LIVINGSTON, EH54 6NN, SCOTLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
8,013 
7,282 
Other debtors
100 
100 
8,113 
7,382 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
12,700 
- 
Trade creditors
11,469 
3,352 
Taxes and social security
6,266 
1,081 
Other creditors
281 
244 
Loans from directors
377,048 
195,200 
407,764 
199,877 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
29,784 
61,572 
7
Average number of employees
During the year the average number of employees was 15 (2022: 16).
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