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REGISTERED NUMBER: SC538947 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

QA Vehicle Solutions Limited

QA Vehicle Solutions Limited (Registered number: SC538947)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


QA Vehicle Solutions Limited (Registered number: SC538947)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 309,260 182,900

CURRENT ASSETS
Stocks 489,151 587,484
Debtors 5 1,054,619 1,078,001
Cash at bank and in hand 239,006 523,679
1,782,776 2,189,164
CREDITORS
Amounts falling due within one year 6 (1,761,723 ) (2,101,792 )
NET CURRENT ASSETS 21,053 87,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,313

270,272

CREDITORS
Amounts falling due after more than one year 7 (290,177 ) (223,073 )

PROVISIONS FOR LIABILITIES (9,623 ) (22,096 )
NET ASSETS 30,513 25,103

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 30,413 25,003
30,513 25,103

QA Vehicle Solutions Limited (Registered number: SC538947)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:




Mrs E Arthur - Director Mr S Quigley - Director




Mr A Arthur - Director


QA Vehicle Solutions Limited (Registered number: SC538947)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

QA Vehicle Solutions Limited is a private company, limited by shares, domiciled in Scotland, registration number SC538947. The registered office is 3 Guardwell Crescent, Edinburgh, Midlothian, Scotland, EH17 7JA.

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
Turnover represents net invoiced sales of goods and services in respect of maintenance and repair of motor vehicles, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on cost, 25% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

QA Vehicle Solutions Limited (Registered number: SC538947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 38 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 391,121
Additions 217,443
Transfer to ownership 1
At 30 June 2023 608,565
DEPRECIATION
At 1 July 2022 208,221
Charge for year 91,084
At 30 June 2023 299,305
NET BOOK VALUE
At 30 June 2023 309,260
At 30 June 2022 182,900

QA Vehicle Solutions Limited (Registered number: SC538947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022 93,925
Additions 217,443
Transfer to ownership (30,511 )
At 30 June 2023 280,857
DEPRECIATION
At 1 July 2022 19,886
Charge for year 56,627
Transfer to ownership (21,341 )
At 30 June 2023 55,172
NET BOOK VALUE
At 30 June 2023 225,685
At 30 June 2022 74,039

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 569,858 591,812
Amounts owed by related parties 132,106 132,106
Other debtors 352,655 354,083
1,054,619 1,078,001

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 60,000 60,000
Hire purchase contracts 49,985 14,876
Trade creditors 536,391 899,451
Taxation and social security 193,853 466,442
Other creditors 921,494 661,023
1,761,723 2,101,792

QA Vehicle Solutions Limited (Registered number: SC538947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 120,000 180,000
Hire purchase contracts 170,177 43,073
290,177 223,073

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 220,162 57,949
Invoice factoring 352,566 327,753
572,728 385,702

Balances due under hire purchase contracts are secured against the assets to which they relate.

Amounts due under invoice factoring are secured by way of a fixed and floating charge over the assets of the company in favour of Bibby Invoice Discounting Limited.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mrs E Arthur
Balance outstanding at start of year 110,380 -
Amounts advanced - 110,380
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,380 110,380

Mr S Quigley
Balance outstanding at start of year 58,576 -
Amounts advanced - 58,576
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,576 58,576

QA Vehicle Solutions Limited (Registered number: SC538947)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A Arthur
Balance outstanding at start of year 63,576 -
Amounts advanced - 63,576
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,576 63,576

10. RELATED PARTY DISCLOSURES

Companies under common control

At the year end the company was owed £132,106 (2022 - £132,106) by a company with common directors and shareholders.

Personal guarantees

The balance due on other loans is covered by a personal guarantee from the directors.