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REGISTERED NUMBER: 09433766 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

QCA QUALITY COVERS ALL LIMITED

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QCA QUALITY COVERS ALL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: G Bungay
A C Masters
P Wilkins



REGISTERED OFFICE: 10 Blackbrook Business Park
Blackbrook Road
Fareham
Hampshire
PO15 5DR



REGISTERED NUMBER: 09433766 (England and Wales)



ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



BANKERS: HSBC Bank PLC
26 High Street
Gosport
Hampshire
PO12 1DG

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

BALANCE SHEET
28TH FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,000 9,000
Tangible assets 5 49,897 57,156
55,897 66,156

CURRENT ASSETS
Stocks 42,000 45,000
Debtors 6 204,347 188,065
Cash at bank 19,309 2
265,656 233,067
CREDITORS
Amounts falling due within one year 7 202,352 221,212
NET CURRENT ASSETS 63,304 11,855
TOTAL ASSETS LESS CURRENT LIABILITIES 119,201 78,011

CREDITORS
Amounts falling due after more than one year 8 (112,500 ) (162,500 )

PROVISIONS FOR LIABILITIES (10,977 ) (10,860 )
NET LIABILITIES (4,276 ) (95,349 )

CAPITAL AND RESERVES
Called up share capital 9 300 300
Retained earnings (4,576 ) (95,649 )
SHAREHOLDERS' FUNDS (4,276 ) (95,349 )

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.

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

BALANCE SHEET - continued
28TH 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 24th November 2023 and were signed on its behalf by:




G Bungay - Director A C Masters - Director




P Wilkins - Director


QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

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


1. STATUTORY INFORMATION

QCA Quality Covers All 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33.3% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

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


2. ACCOUNTING POLICIES - continued

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.

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

Going concern
The financial statements for the year ended 28th February 2023 have been prepared on a going concern basis. In making this going concern assessment, all available information about the foreseeable future has been taken into account.

Despite net liabilities exceeding net assets for the period ending 28th February 2023, the company has achieved sufficient sales post year end and therefore the going concern basis of preparation remains appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2022
and 28th February 2023 30,000
AMORTISATION
At 1st March 2022 21,000
Charge for year 3,000
At 28th February 2023 24,000
NET BOOK VALUE
At 28th February 2023 6,000
At 28th February 2022 9,000

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st March 2022 76,200 40,392 3,595 120,187
Additions 1,292 2,200 - 3,492
At 28th February 2023 77,492 42,592 3,595 123,679
DEPRECIATION
At 1st March 2022 35,601 24,214 3,216 63,031
Charge for year 6,846 3,529 376 10,751
At 28th February 2023 42,447 27,743 3,592 73,782
NET BOOK VALUE
At 28th February 2023 35,045 14,849 3 49,897
At 28th February 2022 40,599 16,178 379 57,156

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 24,572 15,587
Other debtors 179,775 172,478
204,347 188,065

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 76,081 140,838
Trade creditors (591 ) 5,697
Taxation and social security 36,946 39,554
Other creditors 89,916 35,123
202,352 221,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 112,500 162,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
300 Ordinary £1 300 300

QCA QUALITY COVERS ALL LIMITED (REGISTERED NUMBER: 09433766)

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


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

28.2.23 28.2.22
£    £   
G Bungay
Balance outstanding at start of year 53,701 56,808
Amounts advanced 22,162 1,610
Amounts repaid (12,100 ) (4,717 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,763 53,701

A C Masters
Balance outstanding at start of year (31,925 ) 54,705
Amounts advanced 23,500 1,254
Amounts repaid (79,976 ) (87,884 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (88,401 ) (31,925 )

P Wilkins
Balance outstanding at start of year 51,784 54,927
Amounts advanced 22,127 1,562
Amounts repaid (11,992 ) (4,705 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 61,919 51,784

Interest has been charged on the overdrawn directors loan account and is repayable on demand.