2022-09-012023-08-312023-08-31false08187821QUALITY MEDIA SUPPLIES 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QUALITY MEDIA SUPPLIES LIMITED

Registered Number
08187821
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

QUALITY MEDIA SUPPLIES LIMITED
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

BLAKE, James Dean
WETTERVIK, Maria Theresia

Registered Address

90a High Street
Hanham
Bristol
BS15 3EJ

Registered Number

08187821 (England and Wales)
QUALITY MEDIA SUPPLIES LIMITED
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets63,8645,148
Investments752,69651,888
56,56057,036
Current assets
Stocks84,75775,456
Debtors4,0008,787
Cash at bank and on hand115,226207,355
203,983291,598
Creditors amounts falling due within one year(17,995)(32,210)
Net current assets (liabilities)185,988259,388
Total assets less current liabilities242,548316,424
Provisions for liabilities(3,499)(3,499)
Net assets239,049312,925
Capital and reserves
Called up share capital100100
Profit and loss account238,949312,825
Shareholders' funds239,049312,925
The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2024, and are signed on its behalf by:
BLAKE, James Dean
Director
Registered Company No. 08187821
QUALITY MEDIA SUPPLIES LIMITED
Notes to the Financial Statements
for the year ended 31 August 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment15
Intangible assets policy
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.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year22
5.Intangible assets

Total

£
Cost or valuation
At 01 September 22425,000
At 31 August 23425,000
Amortisation and impairment
At 01 September 22425,000
At 31 August 23425,000
Net book value
At 31 August 23-
At 31 August 22-
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 September 2217,708
At 31 August 2317,708
Depreciation and impairment
At 01 September 2212,560
Charge for year1,284
At 31 August 2313,844
Net book value
At 31 August 233,864
At 31 August 225,148
7.Fixed asset investments

Total

£
Cost or valuation
At 01 September 2251,888
Revaluations808
At 31 August 2352,696
Net book value
At 31 August 2352,696
At 31 August 2251,888