Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 31 December 2021 false 1 January 2023 31 December 2023 31 December 2023 11222219 Ms Emanuela Antonelli iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11222219 2022-12-31 11222219 2023-12-31 11222219 2023-01-01 2023-12-31 11222219 frs-core:CurrentFinancialInstruments 2023-12-31 11222219 frs-core:ComputerEquipment 2023-12-31 11222219 frs-core:ComputerEquipment 2023-01-01 2023-12-31 11222219 frs-core:ComputerEquipment 2022-12-31 11222219 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11222219 frs-core:FurnitureFittings 2023-12-31 11222219 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11222219 frs-core:FurnitureFittings 2022-12-31 11222219 frs-core:MotorVehicles 2023-12-31 11222219 frs-core:MotorVehicles 2023-01-01 2023-12-31 11222219 frs-core:MotorVehicles 2022-12-31 11222219 frs-core:OtherResidualIntangibleAssets 2023-12-31 11222219 frs-core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 11222219 frs-core:OtherResidualIntangibleAssets 2022-12-31 11222219 frs-core:PlantMachinery 2023-12-31 11222219 frs-core:PlantMachinery 2023-01-01 2023-12-31 11222219 frs-core:PlantMachinery 2022-12-31 11222219 frs-core:ShareCapital 2023-12-31 11222219 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11222219 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11222219 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11222219 frs-bus:SmallEntities 2023-01-01 2023-12-31 11222219 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11222219 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11222219 frs-core:UnlistedNon-exchangeTraded 2023-12-31 11222219 frs-core:UnlistedNon-exchangeTraded 2022-12-31 11222219 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 11222219 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 11222219 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 11222219 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 11222219 frs-bus:Director1 2023-01-01 2023-12-31 11222219 frs-core:CurrentFinancialInstruments 2 2023-12-31 11222219 frs-core:CurrentFinancialInstruments 3 2023-12-31 11222219 frs-countries:EnglandWales 2023-01-01 2023-12-31 11222219 2021-12-30 11222219 2022-12-31 11222219 2021-12-31 2022-12-31 11222219 frs-core:CurrentFinancialInstruments 2022-12-31 11222219 frs-core:ShareCapital 2022-12-31 11222219 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11222219 frs-core:CurrentFinancialInstruments 1 2022-12-31 11222219 frs-core:CurrentFinancialInstruments 2 2022-12-31 11222219 frs-core:CurrentFinancialInstruments 3 2022-12-31
Registered number: 11222219
Quality London Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Tax and Advise Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11222219
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 61,833 75,833
Tangible Assets 5 219,149 266,172
Investments 6 169,000 169,000
449,982 511,005
CURRENT ASSETS
Stocks 7 28,200 40,975
Debtors 8 299,497 273,266
Cash at bank and in hand 523,553 513,554
851,250 827,795
Creditors: Amounts Falling Due Within One Year 9 (448,866 ) (488,962 )
NET CURRENT ASSETS (LIABILITIES) 402,384 338,833
TOTAL ASSETS LESS CURRENT LIABILITIES 852,366 849,838
NET ASSETS 852,366 849,838
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 852,365 849,837
SHAREHOLDERS' FUNDS 852,366 849,838
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Emanuela Antonelli
Director
25/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Quality London Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11222219 . The registered office is 7 , Northumberland Avenue, London, WC2N 5BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible asset is goodwill It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% SLM
Motor Vehicles 20% SLM
Fixtures & Fittings 10% SLM
Office Equipment 10% SLM
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 48 (2022: 34)
48 34
4. Intangible Assets
Other
£
Cost
As at 1 January 2023 140,000
As at 31 December 2023 140,000
Amortisation
As at 1 January 2023 64,167
Provided during the period 14,000
As at 31 December 2023 78,167
Net Book Value
As at 31 December 2023 61,833
As at 1 January 2023 75,833
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Office Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 197,417 8,014 224,026 32,746 462,203
As at 31 December 2023 197,417 8,014 224,026 32,746 462,203
...CONTINUED
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Depreciation
As at 1 January 2023 85,767 5,506 88,215 16,543 196,031
Provided during the period 19,742 1,603 22,403 3,275 47,023
As at 31 December 2023 105,509 7,109 110,618 19,818 243,054
Net Book Value
As at 31 December 2023 91,908 905 113,408 12,928 219,149
As at 1 January 2023 111,650 2,508 135,811 16,203 266,172
6. Investments
Unlisted
£
Cost
As at 1 January 2023 169,000
As at 31 December 2023 169,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 169,000
As at 1 January 2023 169,000
Quality london did investing in European consulting amount of £ 169,000.
7. Stocks
2023 2022
£ £
Stock 28,200 40,975
8. Debtors
2023 2022
£ £
Due within one year
Trade debtors 42,534 18,280
Prepayments and accrued income 30,352 28,375
Rent Deposit 100,000 100,000
Loan - Quality SRL 43,345 43,345
Loan - Anni Cinquanta SRL 83,266 83,266
299,497 273,266
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9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 144,839 242,330
Bank loans and overdrafts 32,416 42,122
Corporation tax 72,952 52,075
Other taxes and social security 46,826 24,157
VAT 137,390 88,784
Net wages - 1,783
Other creditors (1) - 28,258
Pension payable 3,230 2,240
Shareholder's Funds 7,213 7,213
Accruals and deferred income 4,000 -
448,866 488,962
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Related Party Transactions
During the year company has taken services from Quality SRL for £297,908 (2022 : £106,535).

During the year company has outstanding loan from the Quality SRL is £43,345 (2022 : £43,345) same included in note
no.8
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