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REGISTERED NUMBER: SC621679 (Scotland)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Quality Alliance International Ltd

Quality Alliance International Ltd (Registered number: SC621679)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Quality Alliance International Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr J P Hamilton
Mr S Minty





REGISTERED OFFICE: 42 Queens Road
Aberdeen
AB15 4YE





REGISTERED NUMBER: SC621679 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Quality Alliance International Ltd (Registered number: SC621679)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311 613

CURRENT ASSETS
Debtors 5 116,054 11,123
Cash at bank 23,134 54,211
139,188 65,334
CREDITORS
Amounts falling due within one year 6 106,551 37,155
NET CURRENT ASSETS 32,637 28,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,948

28,792

CREDITORS
Amounts falling due after more than one
year

7

(15,800

)

(6,042

)

PROVISIONS FOR LIABILITIES (67 ) (116 )
NET ASSETS 17,081 22,634

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 16,981 22,534
17,081 22,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Alliance International Ltd (Registered number: SC621679)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





Mr J P Hamilton - Director


Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Quality Alliance International 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 each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2023
and 29 February 2024 1,294
DEPRECIATION
At 1 March 2023 681
Charge for year 302
At 29 February 2024 983
NET BOOK VALUE
At 29 February 2024 311
At 28 February 2023 613

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 110,856 9,745
Other debtors 5,198 1,378
116,054 11,123

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 7,500 2,500
Trade creditors 9 6,892
Taxation and social security 19,444 24,141
Other creditors 79,598 3,622
106,551 37,155

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 15,800 6,042

Quality Alliance International Ltd (Registered number: SC621679)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mr J P Hamilton
Balance outstanding at start of year (535 ) (2,014 )
Amounts advanced 4,349 3,437
Amounts repaid (3,829 ) (1,958 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15 ) (535 )

Mr S Minty
Balance outstanding at start of year (689 ) (1,901 )
Amounts advanced 3,022 3,137
Amounts repaid (2,437 ) (1,925 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (104 ) (689 )

9. ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the year.