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REGISTERED NUMBER: 06448710 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

First Quality Services Limited

First Quality Services Limited (Registered number: 06448710)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

First Quality Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R J Lewsey





SECRETARY: Mrs I M Lewsey





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 06448710 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

First Quality Services Limited (Registered number: 06448710)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 561 944

CURRENT ASSETS
Stocks 1,300 1,300
Debtors 5 6,636 21,965
Cash at bank 7,800 476
15,736 23,741
CREDITORS
Amounts falling due within one year 6 14,180 15,895
NET CURRENT ASSETS 1,556 7,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,117

8,790

CREDITORS
Amounts falling due after more than one
year

7

8,281

10,156
NET LIABILITIES (6,164 ) (1,366 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (6,166 ) (1,368 )
SHAREHOLDERS' FUNDS (6,164 ) (1,366 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

First Quality Services Limited (Registered number: 06448710)

Balance Sheet - continued
31 December 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 23 September 2024 and were signed by:





R J Lewsey - Director


First Quality Services Limited (Registered number: 06448710)

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

1. STATUTORY INFORMATION

First Quality Services 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.

Whilst these accounts show a deficit of shareholders' funds, the company is financially supported by the director. The director considers it necessary and appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance and 25% on cost
Computer equipment - 33.3% straight line

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

First Quality Services Limited (Registered number: 06448710)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,645 2,935 25,376 1,778 32,734
Disposals - - (7,089 ) - (7,089 )
At 31 December 2023 2,645 2,935 18,287 1,778 25,645
DEPRECIATION
At 1 January 2023 2,566 2,265 25,288 1,671 31,790
Charge for year 21 169 - 105 295
Eliminated on disposal - - (7,001 ) - (7,001 )
At 31 December 2023 2,587 2,434 18,287 1,776 25,084
NET BOOK VALUE
At 31 December 2023 58 501 - 2 561
At 31 December 2022 79 670 88 107 944

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 6,636 21,965

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 1,875 1,875
Trade creditors - 2,016
Taxation and social security 5,539 10,238
Other creditors 6,766 1,766
14,180 15,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 8,281 10,156

First Quality Services Limited (Registered number: 06448710)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
R J Lewsey
Balance outstanding at start of year 14,968 18,425
Amounts advanced 159 1,496
Amounts repaid (20,392 ) (4,953 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,265 ) 14,968

Interest on the above loan was applied using HMRC approved rates.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
First Quality Services Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Quality Services Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of First Quality Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of First Quality Services Limited and state those matters that we have agreed to state to the director of First Quality Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Quality Services Limited and its director for our work or for this report.

It is your duty to ensure that First Quality Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of First Quality Services Limited. You consider that First Quality Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of First Quality Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


23 September 2024