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REGISTERED NUMBER: SC213699 (Scotland)















QUALITY RENTAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






QUALITY RENTAL LTD (REGISTERED NUMBER: SC213699)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


QUALITY RENTAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr P J Spittle
Mrs S Spittle





REGISTERED OFFICE: 41 Colvilles Place
East Kilbride
Lanarkshire
G75 0PZ





REGISTERED NUMBER: SC213699 (Scotland)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

QUALITY RENTAL LTD (REGISTERED NUMBER: SC213699)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 68,214 69,640

CURRENT ASSETS
Stocks 173 173
Debtors 5 15,078 37,048
Cash at bank and in hand 482 1,300
15,733 38,521
CREDITORS
Amounts falling due within one year 6 (28,132 ) (50,325 )
NET CURRENT LIABILITIES (12,399 ) (11,804 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,815

57,836

CREDITORS
Amounts falling due after more than one
year

7

(19,078

)

(36,744

)

PROVISIONS FOR LIABILITIES (12,961 ) (13,232 )
NET ASSETS 23,776 7,860

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Retained earnings (6,224 ) (22,140 )
SHAREHOLDERS' FUNDS 23,776 7,860

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

QUALITY RENTAL LTD (REGISTERED NUMBER: SC213699)

BALANCE SHEET - continued
30 JUNE 2024


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 8 August 2024 and were signed on its behalf by:





Mr P J Spittle - Director


QUALITY RENTAL LTD (REGISTERED NUMBER: SC213699)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Quality Rental Ltd is a private company, limited by shares , registered in Scotland. 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 the cost less estimated residual value of each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Motor vehicles - 33% on cost
Plant and machinery - 25% on cost
Computer equipment - 40% on reducing balance

Software - not depreciated

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

QUALITY RENTAL LTD (REGISTERED NUMBER: SC213699)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Leasehold Motor Plant and Computer
improvements vehicles machinery equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 25,409 13,309 3,007 175,588 217,313
Additions - - - 24,458 24,458
Disposals - - - (2,499 ) (2,499 )
At 30 June 2024 25,409 13,309 3,007 197,547 239,272
DEPRECIATION
At 1 July 2023 25,409 10,625 3,007 108,632 147,673
Charge for year - 1,304 - 22,264 23,568
Eliminated on disposal - - - (183 ) (183 )
At 30 June 2024 25,409 11,929 3,007 130,713 171,058
NET BOOK VALUE
At 30 June 2024 - 1,380 - 66,834 68,214
At 30 June 2023 - 2,684 - 66,956 69,640

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,982 20,102
Sundry debtors 2,733 15,683
Prepayments 363 1,263
15,078 37,048

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 18,000 18,000
Trade creditors 330 18,162
Corporation Tax (13 ) (13 )
Social security and other taxes 1,875 4,599
VAT 6,323 2,724
Directors' current accounts 417 5,124
Accrued expenses 1,200 1,729
28,132 50,325

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans - 2-5 years 19,078 36,744