Registered number
04001248
QUALITY PROTECTS CHILDREN LTD
Filleted Accounts
31 October 2023
QUALITY PROTECTS CHILDREN LTD
Registered number: 04001248
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 890,735 878,213
Current assets
Debtors 4 806,158 1,409,831
Cash at bank and in hand 2,276,023 1,920,117
3,082,181 3,329,948
Creditors: amounts falling due within one year 5 (393,715) (640,871)
Net current assets 2,688,466 2,689,077
Total assets less current liabilities 3,579,201 3,567,290
Creditors: amounts falling due after more than one year 6 (178,080) (172,080)
Provisions for liabilities (20,531) (20,531)
Net assets 3,380,590 3,374,679
Capital and reserves
Called up share capital 180 180
Profit and loss account 3,380,410 3,374,499
Shareholders' funds 3,380,590 3,374,679
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
A Nolan
Director
Approved by the board on 31 October 2024
QUALITY PROTECTS CHILDREN LTD
Notes to the Accounts
for the year ended 31 October 2023
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 and value added taxes. 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 134 138
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 660,569 742,754 1,403,323
Additions - 85,110 85,110
At 31 October 2023 660,569 827,864 1,488,433
Depreciation
At 1 November 2022 - 525,110 525,110
Charge for the year - 72,588 72,588
At 31 October 2023 - 597,698 597,698
Net book value
At 31 October 2023 660,569 230,166 890,735
At 31 October 2022 660,569 217,644 878,213
4 Debtors 2023 2022
£ £
Trade debtors 790,024 861,851
Other debtors 16,134 547,980
806,158 1,409,831
Other debtors include £390,938 due from the directors. The loan is interest bearing and was repaid in full subsequent to the year end.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 23,804
Trade creditors 18,412 20,132
Taxation and social security costs 166,865 430,786
Other creditors 208,438 166,149
393,715 640,871
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 178,080 172,080
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 178,080 195,884
Bank loans are secured against the assets of the company.
8 Other information
QUALITY PROTECTS CHILDREN LTD is a private company limited by shares and incorporated in England. Its registered office is:
Hill House
Archway Road
Liverpool
L36 9XB
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