Quality Autoz Ltd |
Registered number: |
07651609 |
Balance Sheet |
as at 31 May 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
12,000 |
|
|
12,000 |
Tangible assets |
4 |
|
|
- |
|
|
2,106 |
|
|
|
|
12,000 |
|
|
14,106 |
|
Current assets |
Cash at bank and in hand |
|
|
3,913 |
|
|
2,558 |
|
Creditors: amounts falling due within one year |
5 |
|
(80,917) |
|
|
(80,623) |
|
Net current liabilities |
|
|
|
(77,004) |
|
|
(78,065) |
|
Total assets less current liabilities |
|
|
|
(65,004) |
|
|
(63,959) |
|
|
Provisions for liabilities |
|
|
|
(178) |
|
|
(178) |
|
|
Net liabilities |
|
|
|
(65,182) |
|
|
(64,137) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Share premium |
|
|
|
10,000 |
|
|
10,000 |
Profit and loss account |
|
|
|
(75,282) |
|
|
(74,237) |
|
Shareholder's funds |
|
|
|
(65,182) |
|
|
(64,137) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr Shabir Iqbal Khan |
Director |
Approved by the board on 6 August 2024 |
|
Quality Autoz Ltd |
Notes to the Accounts |
for the year ended 31 May 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
Motor vehicles |
over 5 years |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 June 2023 |
12,000 |
|
At 31 May 2024 |
12,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 May 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2024 |
12,000 |
|
At 31 May 2023 |
12,000 |
|
|
|
|
|
|
|
|
|
|
Goodwill represents the purchased value of previous business called " A1 Motors" and is carried in the accounts at its historic value on 1 June 2011. Goodwill is not amortised as the director is of the opinion that its carrying value is fully recoverable and there are no accumulated impairement losses to be realised. |
|
|
4 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Fixtures & fittings |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2023 |
1,911 |
|
11,572 |
|
13,483 |
|
Disposals |
(1,911) |
|
(11,572) |
|
(13,483) |
|
At 31 May 2024 |
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2023 |
1,735 |
|
9,643 |
|
11,378 |
|
On disposals |
(1,735) |
|
(9,643) |
|
(11,378) |
|
At 31 May 2024 |
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2024 |
- |
|
- |
|
- |
|
At 31 May 2023 |
176 |
|
1,929 |
|
2,106 |
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
21 |
|
- |
|
Trade creditors |
4,984 |
|
4,984 |
|
Director's account |
|
|
|
|
75,498 |
|
72,923 |
|
Accruals and deferred income |
|
|
|
|
334 |
|
313 |
|
Taxation and social security costs |
80 |
|
2,403 |
|
|
|
|
|
|
80,917 |
|
80,623 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
Other information |
|
|
Quality Autoz Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
1 Byron Road |
|
Denton |
|
Manchester |
|
England |
|
M34 7LY |