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Registered Number: 08577961
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 30 June 2023

for

QUALSTITCH LTD

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 80,055  81,301 
Current assets 1,264  1,179 
Creditors: amount falling due within one year (21,087) (27,075)
Net current assets (19,823) (25,896)
Total assets less current liabilities 60,232  55,405 
Creditors: amount falling due after more than one year (69,678) (62,516)
Net assets (9,446) (7,111)
 
Capital and reserves (9,446) (7,111)
 
  1. For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Sean Marshall
Director

Date approved: 29 March 2024
1
Statutory Information
QUALSTITCH LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 08577961, registration address 7 Wellesley Avenue, Sunnyhill, Derby, DE23 1GQ, England.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Tangible fixed assets

Cost or Valuation Freehold property   Plant and Machinery   Motor Vehicles   Total
  £   £   £   £
At 01 July 2022 75,068    10,099    11,064    96,231 
Additions      
Disposals      
At 30 June 2023 75,068    10,099    11,064    96,231 
Depreciation
At 01 July 2022   7,218    7,712    14,930 
Charge for year   576    670    1,246 
On disposals      
At 30 June 2023   7,794    8,382    16,176 
Net book values
Closing balance as at 30 June 2023 75,068    2,305    2,682    80,055 
Opening balance as at 01 July 2022 75,068    2,881    3,352    81,301 

3.

Average number of employees

Average number of employees during the year was 1  (2022: 2).
2