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Registered number: 14716970
QA (Shropshire) Limited
Unaudited Financial Statements
For the Period 8 March 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14716970
31 March 2024
Notes £ £
FIXED ASSETS
Investments 4 2,147,985
2,147,985
CURRENT ASSETS
Debtors 5 100
Cash at bank and in hand 24,929
25,029
Creditors: Amounts Falling Due Within One Year 6 (103,209 )
NET CURRENT ASSETS (LIABILITIES) (78,180 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,069,805
Creditors: Amounts Falling Due After More Than One Year 7 (300,000 )
NET ASSETS 1,769,805
CAPITAL AND RESERVES
Called up share capital 8 145
Profit and Loss Account 1,769,660
SHAREHOLDERS' FUNDS 1,769,805
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr David Teece
Director
7 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
QA (Shropshire) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14716970 . The registered office is Unit 1 , Halesfield 22, Telford, Shropshire, TF7 4QX.
The financial statements are presented in pound sterling (£) and rounded to the nearest whole £.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.
2.2. Turnover
No turnover was generated during the period.
Investment income represents dividends received from unquoted investments and is recognised when the shareholder's right to receive payment is established.
2.3. 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 year 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 asset reflects 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.
2.4. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, employed under PAYE during the period was: NIL
-
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4. Investments
Unlisted
£
Cost
As at 8 March 2023 -
Additions 2,147,985
As at 31 March 2024 2,147,985
Provision
As at 8 March 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 2,147,985
As at 8 March 2023 -
The company holds 20% or more of the share capital of the following companies:
QA (Telford) Limited (a company incorporated in England & Wales)
Ordinary shares held comprising 100% of the issued share capital. The subsidiary's nature of business is that of a holding and investment company.
5. Debtors
31 March 2024
£
Due within one year
Other debtors 100
6. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Amounts owed to group undertakings 2,009
Other creditors 101,200
103,209
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Other creditors 300,000
8. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 145
Of the shares issued during the period 100 were issued upon incorporation for cash at par and 45 were issued by way of a share for share exchange as consideration for shares acquired in the subsidiary QA (Telford) Limited.
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9. Related Party Transactions
Included within note 6 is a balance owed to subsidiary companies. No interest has been charged on the outstanding balances and there were no conditions attached.
10. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their interest in the issued share capital in the company.
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