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REGISTERED NUMBER: 09713446 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

Quality Stitches Of York Limited

Quality Stitches Of York Limited (Registered number: 09713446)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quality Stitches Of York Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: M Tutus





REGISTERED OFFICE: 15 Goodram Gate
York
Y01 7LW





REGISTERED NUMBER: 09713446 (England and Wales)





ACCOUNTANTS: Musalar & Co Accountants
International Accountant &Tax Consultant
FAIA, FFA, FIPA, FCPA, FFTA
536 Lordship Lane
London
N22 5BY

Quality Stitches Of York Limited (Registered number: 09713446)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 180 375

CURRENT ASSETS
Stocks 367 -
Debtors 5 4,755 -
Cash at bank and in hand 8,299 26,843
13,421 26,843
CREDITORS
Amounts falling due within one year 6 755 1,588
NET CURRENT ASSETS 12,666 25,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,846

25,630

CREDITORS
Amounts falling due after more than one
year

7

30,904

40,000
NET LIABILITIES (18,058 ) (14,370 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 (19,058 ) (15,370 )
SHAREHOLDERS' FUNDS (18,058 ) (14,370 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Quality Stitches Of York Limited (Registered number: 09713446)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 April 2024 and were signed by:





M Tutus - Director


Quality Stitches Of York Limited (Registered number: 09713446)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Quality Stitches Of York 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 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.

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

Quality Stitches Of York Limited (Registered number: 09713446)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 August 2022
and 31 July 2023 975
DEPRECIATION
At 1 August 2022 600
Charge for year 195
At 31 July 2023 795
NET BOOK VALUE
At 31 July 2023 180
At 31 July 2022 375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 4,755 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 755 600
Paye - 988
755 1,588

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans (see note 8) 30,904 40,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 30,904 40,000

Quality Stitches Of York Limited (Registered number: 09713446)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 30,904 40,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1,000 Ordinary shares class A 1.00 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 August 2022 (15,370 )
Deficit for the year (3,688 )
At 31 July 2023 (19,058 )